Ever wondered what your Cash App daily limit is regardless of whether you are sending or receiving money? Well, this post highlights everything you need to know about this popular payment app.
Before delving deep into matters of Cash App and its daily limit it is important that we first point out what Cash App really is especially for those who are yet to use it or are just hearing about it for the first time today.
Cash App is basically a payment app that allows one to send or receive money instantly and securely. Currently, this payment app can only be used by residents in the UK and the US.
Before you can send or receive money using this app, however, youíll need to create a Cash App account, a really simple process that involves picking up a unique Cash App username which youíll basically use for all your transactions with the app.
Worth noting with this particular payment app is that it only allows the sending and receiving of money between users who are within the same country. In other words, you canít send money to your friend in England, France, or even South Africa if you happen to live in the US.
How Does Cash App Daily Limit Work?
Now that you have some slight knowledge about Cash App, we can now shift our attention to understanding how it works, in particular its limits.
If you were to create a Cash App account today (assuming you are well familiar with the process of setting up a Cash App account) and you are keen or simply start using it immediately, youíll notice that there is a limit to how much you can send or how much you can receive, whether itís daily, weekly or monthly.
A typical Cash App account has a number of limitations when it comes to the number or amount of transactions that you can perform on a daily, weekly, or monthly basis.
For instance, if you happen to have a regular account with Cash App your sending limit will be $250 per week. In other words, you can only send up to $250 every week. But what about daily you ask? Well, currently Cash App doesnít have a daily limit when it comes to the amount of money you can send or even receive for that matter. That said however doesnít mean that you can just send any amount of money.
Always keep in mind that the weekly transaction limit for your account is $250, so if you happen to transact $250 on a single day using your Cash App account, you will not be able to send money again, be it tomorrow, the day after tomorrow or maybe two, three days after, youíll have to wait for a new week to start for your limit to refresh.
What about the daily receiving limit?
Cash App doesnít have a daily limit on the amount of money you can receive, whether itís from friends, family members, or from your business clients. Worth noting, however, is that it does have a monthly limit which is $1000.
As was the case with sending money, if you happen to receive $1000 in a single day then youíll not be able to receive any more money, whether itís tomorrow or next week, youíll have to wait until a new month begins so your limit can be refreshed.
Are There Any Cash App Daily Limits?
To be clear, currently, there are no daily limits set up by Cash App that on the amount of money you can send or receive, however, that doesnít mean that you can just send or receive money the way you want as there are certain weekly and monthly limits.
How Can I Increase My Cash App Daily Limit?
If you are looking at increasing the amount of money you can send or receive daily using the Cash App, then youíll have to increase your weekly sending limit and your monthly receiving limit.
Is this possible? How can I do it? Well, yes, you can increase your Cash App limit. For this to happen, youíll need to verify your Cash App account. The verification process is equally very simple and also important, very fast.
To verify your account youíll need to provide the following key three details:
- Your Full Legal Name
- Date of Birth
- The Last Four Digits of Your Social Security Number (For US Residents)
While these three are equally important, many are always skeptical about sharing their SNN given the amount of information it holds. So why exactly does Cash App need your SNN for? Well, itís pretty simple, they ask you for this number to stop money laundering.
Fun fact, itís not just Cash App, just about any payment app in the US including the Edge App requires this key piece of information as it helps in preventing money laundering as the apps are required by law to report any suspicious transfer of money to the government.
N/B: When it comes to the verification process, you might be required to share additional information other than the three listed. Furthermore, they do not verify anyone who is under the age of 18.
Once youíve submitted these three and hopefully everything checks out your account will be verified. Worth noting is that this process usually takes 48 hours to complete, so expect to have a verified account within this period. Once verified, your weekly transaction limit can increase from $250 up to $7500.
What this basically means is youíll be able to send more money daily, just remember to always keep an eye on your weekly limit. While the amount of money you send is limited to up to $7500, the amount of money you can receive with a Cash App once you verify your account is unlimited.
Worth noting about Cash App which is equally as important are their daily withdrawal and spending limits. Currently, Cash App does have in place policies that allow their users to make or withdraw only $250 per transaction, $250 per day, $1000 per week, and $1250 per month. In terms of spending, users, using their Cash App, can spend up to $1000 per day.
As already mentioned, there are no Cash App policies that limit you on the amount of money you can send or receive daily whether you have a verified or a non-verified account. Worth noting, however, is that there are weekly and monthly limitations that indirectly tend to limit how much you can send or receive daily with Cash App.
If these weekly and monthly limitations end up impacting the amount of money youíd like to transact daily then it is best to have your Cash App account verified. The process is straightforward, and it only takes 48 hours for your account to be verified.
Even better, they do have in place a leading third-party tech support service ready to assist you with any difficulties that you might encounter when it comes to verifying your account. If you are having challenges contacting their customer service simply visit this link.
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