Looking for information on how to transfer money from a cash app to a bank account?. These days most people are using computers and smartphones for their banking transactions and with the rate, this is going it is expected that about 65 percent of America’s population will be banking online by 2022. So if you already using any wallet app like a cash app for your banking activities, you are surely on the right track to future banking.
Cash app is a peer-to-peer payment service that’s catching on fast. That is to say that the cash app allows for the exchange of funds and other data without involving any central authority, it does not operate like the local banks that are regulated by a central authority (like CBN in Nigeria). This makes its operation faster, more flexible, and more convenient for all.
So if you are using the cash app, probably you are new to it and you are trying to find out how to transfer money from your cash app to a bank account, then I must tell you that you have come to the right source. In this article, you get to know more interesting things about the cash app, its features, and how to transfer money from a cash app to a bank account.
Why Cash App over Bank Mobile App?
Cash App as we know it is a peer-to-peer payment and transfer service mobile app that allows you to send and receive funds directly and quickly. It is a very useful banking system that facilitates online transactions, money exchange, and online trading too. Apart from making transfers and payments, Cash App provides you with a functional bank account and a debit card which you can use at any ATM or POS stand.
For that trading Bitcoin, FOREX Trading, and online stock investments, the Cash app is a very good app for your transaction as some of their services are free, while others require a little fee.
Why Cash App? Cash App is not regulated by any central authority or government of any country; this makes it quicker in processing and verify transactions. It doesn’t charge you any fee to create an account, and the requirements for opening an account are very easy and straightforward, all you need to open a cash app account is your name, zip code, email, or phone number.
So I urge you to quickly go to Playstore or Apple store and download and start enjoying easy and quick banking, you can thank me later.
Interesting Things about Cash App
Here are exciting things you really should know about Cash App before we go into knowing how to transfer money from Cash App to a Bank account;
- It offers quick and easy transfer of money
- It doesn’t charge to open an account and the account opening process is very simple
- It facilitates direct transfers and deposits
- The limit for sending and receiving money can be increased by fully verifying your cash App account
- They issue debit cards connected to your balance, and they can be used in places that accept VISA
- FDIC does not insure Cash App so if something happens to your money there is no insurance to cover it.
How to Transfer Money From Cash App to Bank Account
It is important to note that your cash app account must be linked to your bank account to be able to transfer money from your cash app to your bank.
So if you’re out there and you are finding difficulties in transferring money from your Cash App account to a bank account, probably because you just started using the app or it has been long you last made transfers with Cash App, here below are the few steps to follow to transfer money from Cash App to your Bank account;
- Open your Cash App on your mobile phone
- Go to the “banking” tab by clicking the icon that looks like a house at the bottom left corner of your screen
- It will show your balance. Under your cash balance, select the “cash-out” button at the right
- The cash-out menu will pop up showing your full balance amount already selected for transfer. You can touch the amount box to change the amount if you wish to transfer less
- Once you have inserted the amount you wish to transfer, then click “cash-out” at the bottom
- The next menu will ask how you will like to deposit the money. If you select “standard”, the money will one to three days to appear in your account and if you select “instant” you receive the money immediately for a 25 percent fee.
If you have read through this article I am sure you were able to get all the information on how to transfer money from a cash app to a bank account. Kindly follow our guide on how to transfer money from a cash app to a bank account, you will find the process very easy and straight forward and if you always follow these steps you will not experience difficulties in carrying out transactions.
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