Cash App Fees: What Charges Can You Expect?

BANKING - BANK REVIEWS
Learn about Cash App fees and what they mean for you.
Updated Oct. 18, 2023
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Cash App is a popular financial platform for sending money to friends and family. The app doesn't charge any account, maintenance, or annual fees. Standard transfers from a linked bank account cost $0, while instant transfers from a linked debit card cost 0.5% to 1.75%, with a minimum of 25 cents. You can also use a credit card for a 3% fee.

Let’s see how these fees work and whether it could be worthwhile for you to explore alternative payment options.

In this article

Key takeaways

  • Cash App is a popular peer-to-peer (P2P) mobile payment service used for transferring money between individuals, similar to Venmo, Zelle, and PayPal.
  • The app itself is not a bank, but it works with banks to provide various services, including sending and receiving money, buying bitcoin, investing money, direct deposit for paychecks, and ATM withdrawals.1
  • Cash App doesn't charge any account, maintenance, or annual fees. It also doesn't charge fees for standard transfers from a linked bank account, making it a fee-free service for this form of standard non-instantaneous transactions.
  • Instant transfers from a linked debit card come with a fee of 0.5% to 1.75%, with a minimum charge of 25 cents. Using a credit card to send money through Cash App incurs a 3% service fee.

What is Cash App?

Cash App is a mobile payment service owned by Block, Inc. (formerly known as Square, Inc.) It’s primarily used to transfer money between individuals, similar to Venmo, Zelle, and PayPal. These types of apps, including Cash App, are called peer-to-peer (P2P) payment apps.

Although billed as a “mobile banking” app, Cash App isn’t actually a bank. It’s a financial platform that partners with banks to provide different types of services. This includes being able to send and receive money, buy bitcoin, invest money, receive paychecks through direct deposit, and withdraw money from ATMs.

Cash App is relatively easy to use. You can send money with Cash App using another user’s email address, phone number, or $Cashtag. To receive money, you need to set up a Cash App account.

The Cash Card, Cash App’s debit card, is free and available to anyone 13 years of age or older. This free debit card is connected to your Cash App balance and can be added to digital wallets such as Apple Pay and Google Pay.2 The Cash App mobile app is available on both iOS and Android devices, including compatible iPhones and Galaxy phones.

Read our Cash App review.

How much does Cash App charge?

Cash App doesn’t have account, maintenance, or annual fees, but you might incur a charge depending on how you use the app. Here are a few fees to watch out for.

Cash App fee Amount
Send money via a bank account $0
Instant transfer via a debit card 0.5%-1.75% (minimum of 25 cents)
Send money via a credit card 3%
Investing $0 commission fees from Cash App, though government agencies could charge fees for trades
Buying/selling cryptocurrency May range between 2% to 3%, but it varies
ATM withdrawals $2.50 per withdrawal without direct deposit (additional operator fees may apply at out-of-network ATMS)

$0 per withdrawal for customers who receive $300 or more in qualifying direct deposits per month

Fee to get money faster

Cash App provides two options to cash out your Cash App balance. This includes a standard deposit to a linked bank account or an instant deposit to a linked debit card.

The standard deposit option is free and typically takes one to three business days to process. If you go for the instant deposit, you’ll have to pay a Cash App instant transfer fee of 0.5%-1.75% (minimum of 25 cents) to instantly receive the money on your debit card.

Alternatively, you could request a Cash Card and spend your Cash App balance without having to transfer it to a bank account or debit card.

Fee for using a credit card to send money

Wondering how to pay your friend with a credit card? Cash App offers this service, but it’s going to cost you a service fee. If you want to send money through Cash App using a credit card rather than a linked bank account or debit card, you’ll have to pay 3% of the total amount.

This is similar to most P2P payment apps, including Venmo. Cash App supports credit cards from most major card networks as a payment method, including Visa, Mastercard, American Express, and Discover.

Investing fees

Cash App doesn’t charge a fee for opening a Cash App investing account. It also doesn’t collect commission fees or require you to maintain a minimum balance on your account.

However, certain government agencies may charge fees for any trades you make, which will be disclosed to you before the confirmation of the trade.

Bitcoin fees

You’ll likely see a fee from Cash App when you buy or sell bitcoins through its app. This fee can vary, so it makes sense to input how many bitcoins you want to buy or sell and check what the fee is. Any fee will show up on the trade confirmation screen before you complete the transaction.

We conducted a few test transactions (without completing the trade), and the fee typically hovered between 2% to 3%.

ATM fees

Cash App charges $2.50 per ATM withdrawal. This doesn’t include the additional fee you’ll likely be charged by the ATM itself for making a withdrawal with a card from a different bank.

If you want to avoid some ATM fees with Cash App, set up direct deposit and pass the threshold of $300 or more of qualifying direct deposits per month. Each month you meet the threshold, you'll qualify for unlimited free withdrawals. Keep in mind that this only applies to the Cash App side, and certain ATMs may charge operator fees.

Venmo vs. Cash App fees

Venmo and Cash App provide similar services, but how does Venmo and Cash App compare? Let’s take a look.

Venmo fees Cash App fees
Send money (via linked bank account) $0 $0
Send money (via credit card) 3% 3%
Receive money $0 $0
Standard transfer $0 $0
Instant transfer 1.75% (minimum 25 cents, maximum $15) 0.5%-1.75% (minimum 25 cents)
Investing N/A $0 from Cash App, though government agencies could charge fees for trades
Buying/selling cryptocurrency 1.5% to 2.3% (minimum 50 cents) Varies (often between 2% to 3%)
ATM withdrawals $0 in network

$2.50 out of network

$2.50 per withdrawal or $0 if you receive $300 or more in monthly direct deposits

You could qualify for ATM fee reimbursements with qualifying direct deposits

Overall, the fee structures are fairly similar between Venmo and Cash App, especially with the main features most users are likely to use. Both Venmo and Cash App users are charged a 3% standard fee for credit card payments. One main difference between the two services is that you can invest in stocks with Cash App, but not Venmo.

For other options for managing your money, check out our list of the best money apps.

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FAQ about Cash App fees

What is the Cash App fee for sending or receiving $100?

Cash App doesn’t typically charge a fee for sending or receiving $100, with a few exceptions. If you use a credit card to send money through Cash App, you’ll pay a 3% fee, which is $3 for a $100 transaction. If you receive money on Cash App and want to cash it out immediately, you’ll pay up to a 1.75% fee for an instant deposit. That would be $1.75 for cashing out $100.

How much does the Cash App withdrawal fee cost?

Cash App doesn’t charge a withdrawal fee for cashing out your balance unless you choose the instant deposit option — in which case there’s up to a fee between 0.5%-1.75%. The standard deposit, which takes one to three business days, is free.

Cash App charges $2.50 per ATM withdrawal. This fee is waived if you receive $300 or more in qualifying direct deposits in a month to your Cash App account.

How do you avoid fees on Cash App?

To avoid fees on Cash App when sending or receiving money, don’t use a credit card to send payments and don’t use the instant deposit option when cashing out your balance.

To avoid some ATM withdrawal fees, receive $300 or more in eligible direct deposits to your Cash App account.

Cash app fees: bottom line

Cash App is a popular option for sending and receiving money, and it’s made inroads into the worlds of investing and cryptocurrency. But if you don’t feel like Cash App has the services or features you need, you have other options to consider.

Keep in mind that Cash App is a financial services company and not a bank. This could mean a bank might have a wider range of services to offer you. For more information, check out our list of the best banks.

Disclaimer: All rates and fees are accurate as of Aug. 4, 2023.

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is a Senior Credit Cards Writer at FinanceBuzz. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.
Yahia Barakah, CEPF Yahia Barakah, CEPF, is a Senior Editor at FinanceBuzz and has created finance-focused content since 2011. As a Certified Educator of Personal Finance, he has a background in institutional investment and asset management, as well as a deep passion for financial literacy.

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