Understanding the Basics of Cash App Withdrawals
Cash App, developed by Square, is a popular mobile payment application that offers a range of financial services. One of the key features of Cash App is the ability to withdraw funds, which can be done in several ways. In this article, we’ll delve into the different methods of withdrawing cash from Cash App, the fees associated with each method, and the time it takes for the funds to be available.
How to Withdraw Cash from Cash App
Withdrawing cash from Cash App is a straightforward process. Here’s a step-by-step guide:
- Open the Cash App on your smartphone.
- Tap on the “Bank” tab at the bottom of the screen.
- Under the “Bank” section, you’ll see an option for “Withdraw.” Tap on it.
- Enter the amount you wish to withdraw.
- Select the bank account where you want the funds to be deposited.
- Review the details and confirm the withdrawal.
Withdrawal Methods
Cash App offers several methods for withdrawing funds, each with its own set of advantages and disadvantages:
| Method | Time to Availability | Fee |
|---|---|---|
| Bank Account | 1-3 business days | $1 |
| Cash at Walmart | Instant | $5 |
| Cash at 7-Eleven | Instant | $5 |
| Cash at CVS | Instant | $5 |
| Cash at Rite Aid | Instant | $5 |
Bank Account Withdrawals
The most common method of withdrawing cash from Cash App is through a linked bank account. This method is convenient and free of fees, but it takes 1-3 business days for the funds to be available in your bank account.
Cash Withdrawals at Retailers
Cash App also allows you to withdraw cash at various retailers, including Walmart, 7-Eleven, CVS, and Rite Aid. This method is instant, but it comes with a $5 fee. To use this method, you’ll need to have a Cash Card, which is a Visa debit card issued by Cash App.
Using the Cash Card
The Cash Card is a convenient way to access your Cash App funds without incurring withdrawal fees. To use the Cash Card, simply:
- Tap on the “Cash Card” tab in the Cash App.
- Choose the “Order New Card” option.
- Follow the prompts to select your preferred card design and shipping address.
- Once your card arrives, activate it in the Cash App.
Understanding Withdrawal Limits
Cash App has certain withdrawal limits in place to ensure the security of your account. Here are the current limits:
| Withdrawal Method | Limit |
|---|---|
| Bank Account | $250 per 7-day period |
| Cash at Retailers | $1,000 per 7-day period |
| Cash Card | $1,000 per 7-day period |
Conclusion
Withdrawing cash from Cash App is a simple and convenient process, with several options available to suit your needs. Whether you prefer to have the funds deposited directly into your bank account or withdraw cash at a retailer, Cash App has you covered. Just be aware of the associated fees