While Cash App is great for anyone looking to invest in bitcoin or join rewards programs, Cash App’s bread and butter is in their transfer system.
Even though it’s one of the most popular features of the App, many users still wonder; what does Cash Out mean on Cash App, and how do you use it? Cash Out is Cash App’s term for making a withdrawal, and you can do it all within the app.
Your bank or fintech company may simply refer to getting money as making a withdrawal, withdrawing money from your account, or receiving funds. Cash App tries to incorporate the word “Cash” into a lot of its features (Cash Card, Cash Balance, Add Cash).
Cash Out is the exact same. It’s just Cash App’s term for sending funds from your Cash Balance to your linked bank account or debit card.
If you’re wondering how exactly to go about Cashing Out, let me break it down for you in some easy-to-follow steps coupled with handy screenshots.
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How to Cash Out on Cash App
Cashing Out on Cash App is one of the most basic and prominent features the app has. While users of the latest version of Cash App can buy cryptocurrency Bitcoin (and even send it to their friends through Cash App) the app started as a simple way to send money to other users.
Cash Out was a big part of the early version of Cash App, allowing users to send their balances straight to their bank account if they wanted to. You can add cash from a bank account in a pretty similar, albeit opposite, process.
If you want to Cash Out on Cash App, adding your current Cash Balance to your bank account, here is the process broken down into a couple of steps:
1. Open Cash App
If you want to move some of your balance from Cash App to your bank account or debit card, you’ll have to start by heading to Cash App itself.
2. Click on the Home Icon or Your Balance
If you have a balance on Cash App — any amount greater than zero — Cash App will display it as one of the five icons on the bottom of the app.
If you don’t have a balance, you’ll see a logo representing a house or the home screen of Cash App.
Click on that for our next step.
For today’s article, I loaded up $25 into my Cash App to use as an example, so you’ll see $25 in the screenshots I included.
3. Click “Cash Out”
Towards the top of the screen, you should see your Cash App balance and two large gray buttons, one with “Add Cash” in white text and another with “Cash Out” in white text.
Click “Cash Out” to send money back to another one of your accounts.
4. Decide How Much You Want to Sned
You can send all of your Cash App balance to your bank account or just some of it.
There are limits to how much you can Cash Out.
For a fully verified account like mine, you can Cash Out (withdraw) up to $25,000 per week.
If you don’t have a fully verified account, Cash App doesn’t make it clear how much they’ll allow you to Cash Out (I’ll include more on that later).
When you’re cashing out, Cash App will let you choose how much you want either through a slider or you can manually enter the amount you want to Cash Out.
5. Choose How Fast You Want The Transaction to Be
While Cash App lets you transfer funds to your friends instantly for free, they don’t offer the same speed for free to Cash Out.
They will let you Cash Out instantly for a minimum of $0.25, or a ranging percentage between 0.5% and 1.75%.
If you want to receive your funds without paying any type of fee, you can withdraw for free.
Free transfers from Cash App take 1-3 business days, depending.
I’m writing this article on a Tuesday, and on my app, Cash App, says that they can get my funds to me by Thursday. Not bad if you can afford the wait.
6. Link Your Bank Account
If you haven’t already done so, Cash App will ask you to link your bank account to complete the transfer.
If you choose to do so, you’ll be linking your account through Plaid.
For the unfamiliar, Plaid is a financial services company that is known for its cybersecurity and is used by companies ranging from Cash App to Venmo to Acorns.
If you choose to work with Plaid to connect your accounts, they will then give you a list of popular banks to choose from.
If you don’t see your bank on the list you can use their search bar to try and find it.
I use Chase, so clicking on the Chase link took me to another page where I was to head to Chase itself to connect the accounts.
7. Finish the Cash Out
Once you’ve linked your bank account to Cash App using your routing and account numbers, you can go ahead and finish Cashing Out.
If you chose to pay a small fee, you should see the funds in your bank account in a matter of moments.
If you went for the free transfer instead, expect to see your money in 1-3 business days.
What Are My Cash Out Limits? (How Do I Check)
Cash App is a very secretive company, choosing only to give out minimal information about its limits. They withhold so much information because they don’t operate in a uniform manner, giving different customers different limits to test them out.
Because of each customer’s unique limits and Cash App’s overall secrecy, I can only speak from my own experience with the app.
I’ll include more screenshots too, so you know I’m really using my own Cash App (check out my referral code if you want to sign up too).
My current Cash Out limit is $25,000 per week, well above anything I would currently need! $25,000 to Cash Out is much higher than any of my other limits too. I can send and add up to $2,500 per week, but I can receive an unlimited amount through Cash App.
If you’re completely unverified, meaning you haven’t given Cash App your full legal name, date of birth, and last four of your social security number, your limits are a lot lower. Cash App lets you send up to $250 per week and receive up to $1,000 per month.
That information is per their own website. They don’t advertise how much someone who is unverified can Cash Out though, so as always I reached out to Cash App support and asked.
Whenever there is information I need to include in an article that I don’t know, I always reach out to the primary source to find out the truth. Unfortunately, Cash App is exactly helpful in this regard.
I reached out to them to ask about unverified accounts, but when I did, they said that because I have a verified account, they couldn’t give me any of that information. They said that due to privacy reasons, they couldn’t give out any information about an account I didn’t own.
They did say that if I owned another account, maybe an unverified one, and I wanted some information on it, I could sign out of my current account and then sign in with the other one.
After I switched accounts, they would be able to answer my questions.
If you want to be able to check your own Cash App limits, open the app and click on the profile section in the upper right hand corner.
If you have a profile picture, you’ll see it here. If not, you should see a silhouette representing the profile section.
Scroll down through the profile section and stop when you see a button titled “limits”. Click on it. Here you’ll be able to see how much you can spend, receive, add, and withdraw (Cash Out).
You’ll even be able to see your limits on buying and selling bitcoin on the same page.
Where Does My Money Go When I Hit Cash Out on Cash App?
I see this question asked a lot over Google, Quora, and Reddit, so I figured it would be a good idea to include it in this article.
If you’ve linked a bank account to Cash App, either to add funds or as a place to deposit them, that’s where your money will go when you hit Cash Out.
If you haven’t connected an outside account with your Cash App one, your money won’t go anywhere. Cash App will first ask you to link an account before completing your Cash Out transaction.
If you don’t have an account to link to, you can use your debit card. Cash App will use your debit card for instant transfers, so you can’t transfer your Cash App balance for free without a bank account.
I sent $10 to my debit card for this article and received $9.75 instantly. I paid $0.25 as a fee for using Cash App’s instant deposit, as you can see from the screenshots down below.
Does Cash App Transfer Money to My Bank Account?
Yes and no. Cash App can be connected to your bank account, using it as a place to deposit money and a source to draw from.
You can also use your debit card as a means of funding your Cash App. You can’t transfer to a debit card for free, but you can use it for the instant transfer feature.
How to Cash Out on Cash App Without a Bank Account
If you’re looking to withdraw your Cash Balance from within Cash App and don’t have a bank account to use, you can use a debit card.
As I mentioned previously in this article, you can use a debit card for the instant transfer feature Cash App offers but not for the free 1-3 business day method.
If you have a card from another popular online bank, say something like Paypal or Venmo, you could add your card to Cash App and use it as a way to transfer money from Cash App to those other money apps.
How Do I Enable Instant Cash Deposits on Cash App?
I saw this question asked a lot too, so I thought it was a good idea to address it here. A lot of Cash App users think there is something they need to do in order to enable instant deposit, like a button they need to process or a program they need to enroll in.
This isn’t the case. All you need to do to use Instant Deposit on Cash App is have a debit card connected to the app. Cash App will send the money straight to the debit card if you’re using the instant transfer feature.
They will also take the fee from the amount transferred before it is sent.
If this article was useful to you, check out more Cash App guides written by me:
