Are there any Cash App fees to receive money? Well, wonder no more.
This post sheds more light on all things Cash App fees especially when it comes to receiving money.
Cash App, a peer-to-peer online payment system by Square Inc., offers a wide variety of services when it comes to matters online transactions.
Whether it’s sending, receiving, requesting, or even making purchases and payment online, Cash App has made it possible to do so in a manner that is not only easy and convenient but also hassle-free.
While this is so, it is good to note that Cash App does charge a small fee for some of its charges.
With this in mind, many thinking about creating a Cash App user account are always keen on knowing what fees they might be charged when using Cash App.
If this is you, you’ll find this post to be very helpful as it highlights all things Cash App fees.
Cash App Services At A Glance
If there is one online payment system provider that’s seen remarkable growth over the years is Square Inc.’s Cash App. In fact, it is now competing with the likes of Venmo, big names in the industry despite it being very young.
Cash App’s tremendous growth can be attributed to the various types of services, features, and tools it offers its users. Some of the services you can expect to enjoy with Cash App once you decide to create an account include sending, receiving, and requesting money online.
Furthermore, Cash App users have the option of accessing their money offline and making purchases if they happen to have a Cash App Credit Card.
Another great service worth noting with Cash App is their recently introduced Direct Deposit feature. What this service does is basically make it possible for Cash App users to access their paychecks directly to their Cash App account with ease.
Cash App Services & Fees
When focusing on matters of Cash App services and fees it is good to point out that most of their services are free to use. In fact, their key services are completely free especially if you happen to have a personal Cash App account.
In other words, Cash App does not charge its users for sending, receiving, or requesting money online through their platform. While this is so, there are certain fees put in place by Cash App for some of their services.
For starters, they do offer their users two types of direct deposit services, standard direct deposits, and instant direct deposits. While standard direct deposits are free you might have to wait for 3 business days in order for your deposit to reflect on your account.
Instant direct deposits, on the other hand, are instant however Cash App does charge a small fee of 1.5% for this particular service.
Other charges include a 3% fee on any money sent on their platform using a credit card. Worth noting however is that Cash App who choose to make payments on their platform using their bank account or debit card do so free of charge.
If you happen to make an Instant Transfer of funds request from your Cash App account to your debit card, do note that Cash App will charge you a 1.5% fee.
If you happen to have a Cash App business account, do note that you’ll be charged a fee of 2.75% if you receive money that’s payment for the service you are offering.
Note: With the percentages do note that you’ll be charged the said % of the amount sent, received, or paid.
So are there any Cash App fees to receive money?
Well, a simple answer to this is no. Cash App will not charge you for receiving money on via their platform. In fact, if you happen to have a Cash App personal account, most of the services Cash App offers are free to use.