Cash App was launched by Square Inc. in 2013 to go against the established P2P payment apps such as PayPal. You can use the Cash App to send and withdraw money as well as shop at merchants, malls, gas stations and pretty much everywhere where online payment is allowed. You can set up the Cash App on your device in a few simple steps and start enjoying its benefits.
Let’s take a look at how you can set up your own Cash App account and increase its limit:
How to Set Up a Cash App Account
- Go to the app store on your device
- Search for Cash App and install the app
- Open Cash App and enter the necessary details requested by the app
- You will also be asked to put in your Email address and mobile number for verification purposes, do enter it
- Enter the verification code you received by text and click continue
- Enter your full name and tap next
- Add a Visa or MasterCard details along with billing and zip code
In order to use your Cash App account, you must first link it to your bank account. However, before proceeding to link your bank account to your Cash App account, you must keep in mind the following:
- Only a United States bank account can be added to your Cash App account to start transactions. So far, Cash App is not compatible with any foreign banks. If you have a bank account in the United States, you have checked the first condition to link your bank account with a Cash App account.
- In order to link your bank account with your Cash App account, you must have active transactions. Cash App checks your withdrawals and transfers before linking, therefore make sure to have positive and regular transactions. Pre-paid cards or online-only payment accounts such as PayPal can not be linked as bank accounts.
- You must provide your full bank account number and routing number to successfully link your account. Make sure you are putting in all the details correctly and double-check before proceeding to the next page.
- You must have at least $1 in your bank account. Cash App will initially transfer and withdraw a little amount of cash to check your balance when the account is linked.
How to Link Bank Account with Your Cash App Account
Here is a list of simple steps to follow if you want to link your bank account with your Cash App:
- Open the Cash App on your phone.
- Tap on the “Balance” button represented by a dollar sign in your Cash App screen
- Follow the instructions provided on the screen
- Next, insert your bank account details.
- Now, follow the instructions shown on the screen.
Having set up your Cash App account, you can use it for all your transactions including sending and receiving money. With the Cash App you can send $250 in a week and receive $1000 in a month.
You can also increase this limit by verifying your identity. In order to verify your identity, you must give your full name, date of birth, and last four digits of your social security number. Note that you must be 18 or above in order to verify your account.
In case Cash App is unable to verify your account using your full name, date of birth, and social security number, you may be asked to provide additional details.
Cash App Charges
While certain transactions on the Cash App are free of cost, others levy some charges. If you are going to activate a Cash App Card, you must be aware of the applicable fees and charges.
- Personal payments are free on Cash App Card.
- Business-related payments will levy a 2.75% charge from the beneficiary.
- Standard deposits are free of cost.
- Immediate deposits charge 1.5%.
- Payment received from a credit card will levy a 3% charge from the sender