Mobile payment apps have completely changed how we manage our money. Cash app is one such app. However, you might feel the need to transfer money from the cash app to a bank account.
You should be prepared beforehand to complete the transaction smoothly. This article will walk you through the complete process.
How to transfer money from the cash app to a bank account: A step-by-step guide
1. Download and install the Cash app
Ensure the Cash App is installed on your smartphone before sending money. Get it from the Google Play Store (for Android) or the App Store (for iOS). Once installed, run the app and follow the on-screen steps to establish an account. To sign up, you’ll need to enter your email address or mobile number.
2. Connect Your Bank Account
You must link your bank account with your Cash App account to transfer money from Cash App to your bank account. Open the Cash App and scroll down to the “Banking” option. Then click “Add a Bank.”
You will be required to provide information about your bank account, including the account number and routing number. Following account entry, Cash App will confirm the account by depositing two tiny sums (often less than $1 each) into your bank account.
3. Verify the bank Account
Go back to the “Banking” option in the Cash App. Here, choose the bank account you added to finish the verification procedure. When you click “Verify Account,” Cash App will ask you to enter the two minor deposit amounts it provided to your bank account. Your bank account will be connected to Cash App once verification is complete.
4. Make Transaction to your Bank Account
Open the Cash App, then press the balance amount shown on the home screen to start a transfer. On the following screen, choose “Cash Out”. Then, input the required amount to be transferred to your bank account. You have the option to transfer the entire sum or a specific amount. Confirm your transaction details and proceed.
5. Select the Transfer Speed
You can choose the transfer speed after entering the amount. There are two transfer speeds available on Cash App: Standard and Instant.
The Standard transfer is free of charge but it could take 1-3 business days for the money to arrive in your bank account. On the contrary, Instant transfers often take just a few minutes to complete, but they come with a minor cost of 1.5% of the transfer amount.
6. Transfer Confirmation
To make sure everything is correct, carefully check the transfer specifics on the confirmation screen. When finished, click “Cash Out” to start the transfer procedure. To validate the transfer, you may be requested to enter your Cash App PIN or utilise biometric authentication (if enabled).
7. Check Your Bank Account
After executing the transfer, it is critical to monitor your bank account. The funds will be available in your bank account within a few minutes (for Instant transfers) or 1-3 business days (for Standard transfers) depending on the transfer speed you selected.
Also read: Simple Guide to Get Money Back If Scammed Through Cash Apps
The process to transfer money from the cash app to your bank account is quite simple.
The process entails linking your bank account, verifying it, and initiating a transfer using the Cash App.
You can safely transfer funds from Cash App to your bank account by following the above procedure. The process will provide convenient access to your money when needed.
