Cash app fees: How much does the Cash app cost?

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Cash App is a financial services platform owned by Block. Formerly known as Square Cash, the app makes it easy to send and receive money between Cash App users. Other services include direct deposit, ATM withdrawals, and investing in stocks and bitcoins.

Users can download Cash App, create an account and perform many transactions for free. Other transactions require a small commission which, depending on the type, can vary from 0.5% to 3%. Transaction fees of up to $2.50 may apply to ATM withdrawals using a payment card. Here’s what users should know about these fees and what they can do to avoid them.

How much does the Cash app charge to withdraw funds?

There are no fees for a standard deposit to a user’s linked bank account. However, the transaction may take one to three business days. If a user opts for an instant deposit, Cash App charges a fee of 0.5% to 1.75% to transfer the funds to a debit card.

Cash application fee for sending money

Cash App charges a 3% fee to send money or make a payment using a credit card linked to a user’s account. There is no charge for sending money from the available balance in a user’s Cash App account, linked debit card, or bank account.

Does the Cash app charge investment fees?

With Cash App’s investment feature, users can buy and sell stocks and Bitcoins. The app facilitates both processes, allowing users to choose the stocks they want to invest in, set target prices, set up recurring purchases, and view key metrics for more informed investment decisions.

There are no Cash App fees to open or maintain an investment account, and Cash App does not charge a fee per trade. However, some fees may be charged by the government.

Although there is no Cash application fee for buying or selling stocks, there may be one for buying or selling Bitcoin. Selecting accelerated withdrawal instead of standard withdrawal could also subject a user to network fees. The fees depend on the amount of blockchain congestion.

Are there any fees for using a payment card?

Cash App users can order a Cash Card, which can be both physical and digital. This card allows users to make purchases using their Cash App balance in person, through the tap-to-pay option, or when shopping online wherever Visa is accepted.

The payment card is free and can be personalized, but it will cost the user $5 to change the design once they receive the card.

Cash App may also charge users up to $2.50 for using a payment card to withdraw cash from an ATM. This is in addition to the fees charged by the ATM.

Once a user reaches $300 in eligible direct deposits, Cash App will begin refunding their ATM fees. They will also refund all ATM fees, including ATM operator fees, for up to three transactions – up to $7 each – over a 31-day period. If a user makes more than three withdrawals within this time frame, they will incur a $2 fee per transaction.

Final grip

Cash App makes it easy for users to send and receive money, transfer funds to their bank account, and even start investing. Although certain fees are associated with certain transactions, this does not mean that a user must pay them. Actions such as choosing standard speed transfers and sending money using a debit card can help users avoid paying anything to use the app.

Cash App Fee FAQ

Here are several frequently asked questions about Cash App fees.

  • Why does Cash App charge fees?
    • Cash App is not a bank and its fee structure reflects its commercial nature. All banking-related activity is handled by banking partners.
  • How much does Cash App charge for $100? $500?
    • How a user deposits or sends the $100 will determine if there will be any fees. While a standard transfer is free, an instant transfer would cost between $0.50 and $1.70. Similarly, an instant transfer of $500 would cost between $2.50 and $8.75.
      • What about sending money? Using a Cash App balance or linked bank account, a payment of $100 would have no additional charges. If someone uses their linked credit card, that $100 payment would incur a $3 charge. Similarly, a $500 credit card payment would cost the user an additional $15.
  • Can you avoid Cash App fees?
    • Here are some ways users can bypass Cash App fees:
      • By selecting the standard delivery speed during checkout
      • Use a Cash Card and avoid making more than three withdrawals every 31 days
      • Send money or pay for purchases using a linked bank account or debit card
      • Selection of Standard Withdrawals instead of Accelerated Withdrawals to avoid additional fees associated with buying or selling Bitcoin

Information is accurate as of September 20, 2022.

Editorial note: This content is not provided by any entity covered by this article. Any opinions, analyses, criticisms, evaluations, or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed, or otherwise endorsed by any entity named in this article.

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