Complete Guide To Cash App Fees And Charges

Table of Contents

• Does Cash App Charge Fees?
• What Are Cash App's Fees For Adding Funds?
• What Are Cash App's Fees For Receiving Money?
• What Are Cash App's Fees For Sending Or Spending Money?
• What Are Cash App's Fees For International Money Transfers?
• What Are Cash App's Fees For Withdrawing Money?
• What Is Cash App's Fee For Standard Deposits To Bank Account?
• What Is Cash App's Fee For Instant Deposits To Bank Account?
• What Is Cash App's Fee For ATM Withdrawals?
• How Can I Avoid Cash App ATM Withdrawal Fees?
• Are There Any Cash App's Fees For Account Maintenance?
• Cash App Personal Account Fees And Charges Summary
• What Are Cash App's Fees For Business Accounts?
• How Can I Avoid Cash App Fees?
• Do Not Deposit Paper Checks
• Avoid Cash App Instant Deposits
• Prefer In-network ATMs Over Out-of-network ATMs
• Setup Minimum USD 300 Direct Deposit
• Avoid Sending With Credit Card
• Conclusion: Making The Most Of Cash App While Minimizing Fees

Cash App is a popular peer-to-peer payment app that allows users to send and receive money quickly and easily. However, like all financial services, there are several fees and charges are associated with using various Cash App services.

Understanding these fees and charges is important for you to make informed decisions about how to use Cash App and avoid unexpected costs.

This article provides a complete guide to Cash App fees and charges, covering everything from sending and receiving money to using the Cash App card and direct deposit.

We also provide tips and tricks for avoiding fees and getting the most out of your Cash App account.

Along with a complete knowledge of Cash App's limits, a full understanding of Cash App's fees and charges will elevate your understanding of this useful app to the next level.

Does Cash App Charge Fees?

The good news is that most Cash App services are free. That said, there are some scenarios where Cash App may charge a fee¹.

For example, free Cash App services include depositing money into Cash App via direct deposit or bank account. Similarly, spending money in your Cash App account is also free of cost.

On the other hand, funding your Cash App account with a paper check or instant withdrawal from your account are examples of activities that incur a fee.

Most Cash App services are free of cost but there are some activities and transactions that incur a charge.

In the rest of this article, we will deep dive into various Cash App fees associated with using this convenient app. This will help you understand scenarios where a fee may apply, and if possible, how you can minimize or even avoid such fees.

What Are Cash App's Fees For Adding Funds?

Before you can use Cash App to pay for goods and services, or to send money to family and friends, you need to have funds in your Cash App account.

There are various ways to add money into your Cash App account. Below we list these along with associated fees:

• Direct deposit (ACH deposit): USD 0
• Receive funds from others: USD 0
• Add money from external account: USD 0
• Paper check deposit: USD 1
• Merchant refund: USD 0

Adding money to your Cash App account is free of cost except for when you deposit paper checks which cost USD 1 per check deposit.

What Are Cash App's Fees For Receiving Money?

One of the primary functions of Cash App is to send and receive money between users.

If you receive money from someone, there is no cost or fee incurred. This applies to both receipts from family and friends as well as any business or merchant refunds.

It is free to receive money into your Cash App account. This applies to both individual or business receipts.

What Are Cash App's Fees For Sending Or Spending Money?

If you send money to someone using Cash App, or pay for any goods and services offered by business or merchants, there is no fee associated.

In other words, it is totally free to send or spend with Cash App. This applies to both using your Cash App balance as well as debit card.

However, if you choose to send or spend using a credit card linked to your Cash App account, you will have to pay a 3% fee. Note that your credit card company may charge additional fees on top of Cash App's 3% fee.

Spending or sending money from your Cash App balance or debit card is free of cost. Credit card funded transactions are charged a 3% fee.

What Are Cash App's Fees For International Money Transfers?

Whilst Cash App does not fully work internationally, you can still send money with it between the US and UK. In other words, you can send money from US to UK as well as remit from UK to US with Cash App.

If you send and receive funds between US and UK, it is free to do so with Cash App.

You can send and receive money internationally between US and UK with Cash App without any additional fees.

In case you with to send money overseas to any other countries, Cash App will not be an option for you. For such scenarios, consider international money transfer companies that specialize in moving money across the globe at good exchange rates and low fees.

What Are Cash App's Fees For Withdrawing Money?

If you have a positive Cash App balance, you can also withdraw funds out of your account. This is also called cashing out of your Cash App account.

Below is a summary of various ways to cash out your Cash App balance, and any fees associated with this.

What Is Cash App's Fee For Standard Deposits To Bank Account?

If you are withdrawing funds out of your Cash App account directly into your linked bank account, there is no fee to do so. Funds typically arrive in your account in 1-3 business days.

Standard deposits from Cash App to a linked bank account are free.

What Is Cash App's Fee For Instant Deposits To Bank Account?

In case you do not want to wait for 1-3 business days standard deposits take, you have the option to withdraw funds from Cash App using instant deposits. Instant Cash App deposits to a linked bank account are typically available within minutes.

Cash App's fee for instant deposits varies between 0.5%-1.75% of the transfer amount, subject to a USD 0.25 minimum fee. The exact fee that you will incur will be shown to you at the time of your transaction.

Instant Cash App deposits are charged anywhere between 0.5%-1.75% of the withdrawal amount with a minimum applicable fee of USD 0.25.

What Is Cash App's Fee For ATM Withdrawals?

You also have the option to withdraw cash from your Cash App account using an ATM.

Any ATM withdrawals to take funds out of Cash App incur fees as below:

• In-network ATM withdrawals: The fee to withdraw from in-network ATM is USD 2.50 per transaction.
• Out-of-network ATM withdrawals: The fee for out-of-network ATM cash outs is also USD 2.50 per withdrawal. In addition, you may be charged an ATM operator fee by the ATM company.

Cash App ATM withdrawals cost USD 2.50 per transaction for both in-network and out-of-network ATMs. You may have to pay an additional operator fee for out-of-network ATMs.

Finally, any balance inquiries done at ATMs are free of cost. This applies to both in-network and out-of-network ATMs.

How Can I Avoid Cash App ATM Withdrawal Fees?

There is an easy way to avoid ATM withdrawal fees when taking money out of your Cash App account.

Simply receive minimum USD 300 as direct deposit in your Cash App account to receive waivers on ATM fees. The fee reductions depend on in-network or out-of-network ATMs as below:

• In-network ATM fee waivers: In-network ATM withdrawal fee of USD 2.50 per cash out is waived for the next 31 days for all withdrawals from the day you receive USD 300 direct deposit.
• Out-of-network fee waivers: For out-of-network ATMs, only one withdrawal fee of USD 2.50 is waived for 31 days after receiving USD 300 direct deposit. All withdrawals after the first transaction will be charged USD 2.50.

If you receive USD 300 direct deposit in your Cash App account, all ATM withdrawal fees for in-network ATMs are waived for 31 days. For out-of-network ATMs, only 1 fee is waived.

Are There Any Cash App's Fees For Account Maintenance?

Many financial apps charge fees for account maintenance and customer support. The good news is that Cash App does not charge any monthly fees or any other account maintenance charges.

Below is a summary of Cash App activities that are free:

• Account setup fee: USD 0
• Monthly account maintenance: USD 0
• Inactive account fee: USD 0
• ATM Balance Inquiry: USD 0
• Customer service fee (app, email or phone): USD 0

Cash App does not charge any setup or monthly maintenance fees. You also do not have to pay for ATM balance inquiries, nor for contacting customer support.

Cash App Personal Account Fees And Charges Summary

In this section, we provide a quick summary of Cash App's fees and charges. You can use this information as a handy guide for quick reference.

Knowledge of all the above Cash App fees and charges will help you maximize the power of this convenient app by either altogether avoiding or minimizing the impact of fees to your transactions.

What Are Cash App's Fees For Business Accounts?

Cash App also offers a business account option, allowing businesses to accept payments from customers and vendors. While there is no cost to sign up for a Cash App business account, certain fees and charges may apply² to transactions.

When receiving payments from customers using a Cash App business account, there is a fee of 2.75% of the transaction amount. This fee is deducted automatically from the payment before it is deposited into the business account balance.

You will have to pay a 2.75% fee for incoming business payments into your Cash App account.

Businesses can also use the Cash App business account to make payments to vendors and suppliers.

If the payment is made using a linked bank account, there is no fee for the transaction. However, if a credit card is used to make the payment, Cash App charges a fee.

Additionally, businesses can use the Cash App business account to access the Cash Card for making purchases and withdrawing cash. The fees and charges associated with the Cash Card usage are the same as those for personal accounts, as described earlier.

How Can I Avoid Cash App Fees?

Most Cash App services are free, and the ones that incur a fee generally have low fees. Nevertheless, it is ideal that you try to minimize the impact of fees to make the most of your hard-earned money.

Here are some best practices to minimize or avoid Cash App fees.

Do Not Deposit Paper Checks

Anytime you deposit a paper check into your Cash App account to load money, you have to pay USD 1 fee. To avoid this fee, fund your account via direct deposit or a bank account.

If you get a payment as a paper check for some reason, consider depositing it into your bank as that will be free. Then fund your Cash App account using your bank.

Since the USD 1 fee is pretty low, it is probably OK to incur it once in a while when needed. But if you receive a lot of payments via check, avoiding this fee may be useful in the long term as the savings will slowly add up.

Avoid Cash App Instant Deposits

When taking money out of your Cash App account, you have the option to choose standard deposit or instant deposit.

Standard deposits take 1-3 business days whilst Instant deposits finish within minutes. But you have to pay a fee to access your funds faster; this fee is anywhere between 0.5% to 1.75%.

Unless you need the funds urgently, avoid instant deposits as they are expensive. Plan your budget in a way that you can manage just fine with standard deposits, thereby avoiding the extra fee that comes with instant deposits.

Prefer In-network ATMs Over Out-of-network ATMs

Anytime you access an out-of-network ATM, you may have to pay an extra ATM operator fee. To avoid this extra charge, stick with Cash App in-network ATMs.

Setup Minimum USD 300 Direct Deposit

If you have at least USD 300 direct deposit setup for your Cash App account:

• In-network ATM fee of USD 2.50 per transaction is waved for each transaction for the following 31 days.
• Out-of-network ATM fee of USD 2.50 is waived once in the upcoming 31 days.

We, therefore, recommend setting up a minimum USD 300 monthly direct deposit into your Cash App account gives you totally free access to in-network ATM withdrawals without incurring a fee.

Avoid Sending With Credit Card

You can send or spend money via a credit card linked to your Cash App account. This may seem very convenient at first, but comes with a hefty price as credit card funded Cash App payments cost 3%.

What is worse is that your credit card company may charge you additional cash advance fees for using it like cash in Cash App.

Given this, we strongly recommend avoiding credit card payments via Cash App. Fund your Cash App account with direct deposit or a bank account, both of which are free, before sending or spending money.

Following some of the above best practices will help you minimize or altogether avoid the impact of Cash App fees.

Conclusion: Making The Most Of Cash App While Minimizing Fees

Cash App offers a variety of convenient features for sending and receiving money, making purchases, and withdrawing funds for both personal as well as business accounts.

However, it is important to be aware of the potential fees and charges associated with these transactions to maximize your app use while minimizing costs. To minimize fees when using Cash App, consider using a linked bank account instead of a credit card whenever possible.

Additionally, take advantage of features like direct deposit when they make sense for your individual financial goals and circumstances. Additionally, be aware of services like Instant deposits that come with high fees; choose standard deposits instead if possible.

By keeping some of the tips we shared earlier in mind, you can make the most of your Cash App experience while controlling your costs.

Do You Need To Find the Best Remit Exchange Rate for Sending Money Internationally?

RemitFinder is an online service that helps you track remit exchange rates. By checking and comparing the latest remit exchange rates, you can get the best exchange rate for your money transfers. RemitFinder, thus, helps you to get the best return for your hard-earned money.

Find the cheapest rate to transfer your hard-earned money - visit our site or download the app on Google Play or Apple App Store now.

References:
1. List of Cash App fees and charges for personal accounts
2. Cash App fees for business accounts