How Does Cash App Work?; Steps To Send & Receive Payments

To everyone out there asking ” how does Cash App work? Its features, how to send and receive money from the App” is what this article explained in details. Those who have no idea on how Cash App function, will learn everything here.

The first question to answer is the meaning of cash app, after that’ we will proceed to listing out the features, how to send and receive money using the App.

What Is Cash App?

 

As you may have heard, Cash App is a financial application developed by Square Inc. But if you didn’t know, then you are in the right place.

Cash App was created in 2013 majorly for the transfer of money from peer to peer. Over the years, it has taken some other functions that have made it stand out amid the competition. 

Just as I said earlier, we shall be going into the details of how Cash App works and every other thing you need to know about Cash App including its features, uses, and many more. Stay tuned and read with me as we delve into it. It promises to be a very interesting read. 

How Does Cash App Work?

 

No doubt, Cash App can be tag as one of the easiest way to send, spend, save, and invest your money’ without being scammed.

The first step to take whenever you want to open or create a cash app account is to download their mobile App from Google play store (android users ) or Apple store, for iphone.

After downloading cash app, install and sign up for an account. Make sure you provide them with your valid phone number and government issued ID, this  will enable the verification process to commence instantly.

Next step is to link your bank account or debit card. Add funds to your cash App account and carry out transactions like; Sending money to friends, Receive money from friends, Pay for stuff, Buy/sell stocks, Buy/sell Bitcoin etc.

Cash App Features?

 

Coming across the app, the first thing that will come to your mind will be “what is this app about? And what is it used for?” The answer to those questions is the reason we are here. Cash App is used for the following 

Sending Money: Cash App is used to send money to peers, family, or business associates and at the same time allows you to send money to your external bank account.

This is a beautiful feature because you will agree with me that the world is increasingly becoming cashless hence the necessity of an easy method of sending money. And this is exactly what Cash App is doing.

All you have to do is to go through the steps on how to spend money on the Cash App. And it’s also important that you link your bank account to your Cash App account. This step is however not compulsory. Join me as we learn how to link your bank account to Cash App. 

How To Add Bank Account To Cash App

 

Adding your bank account to your Cash App makes the process of sending money to and from your bank account easier. Take the steps below to add your bank account to your Cash App. 

• Click on the banking icon at the bottom left of your cash App. 
• On the next page, click on “link account”
• The next slide will provide the option of adding your debit card number. Click No Card if you do not wish to add your debit card. 
• On the next page, link your account using your username and password linked to that bank and click continue. 
• Tap on your bank or enter its name on the next page.
• Enter the username, email, or password that you use in logging in to your bank account and submit. 
• Enter the verification code that will be sent to you on the next page and click enter. 
• Click on continue.

congratulations! Your bank account has been linked to your Cash App. 

Is It Safe To Add Bank Account To Cash App

 

Some people are skeptical about linking their bank account to the  Cash App especially in this era of scams and internet fraud.

I understand your feats and to answer your question, Cash App is safe to link your bank account but you have to make sure you do not reveal your phone security lock to anyone. And also avoid sending money to strangers who may likely scam you.

Also, know that all your payment information on Cash App is encrypted and all transactions are private. Cash App uses fraud detection technology to keep both your data and information secured. 

How To Transfer Money From Cash App To Bank Account

 

• On the homepage of your Cash App, tap on Cash Out. 
• Type in the amount of money you want to send and press Cash Out. 
• Select a Deposit Speed that can be standard or others. 
• Confirm the transaction by entering your PIN or Touch ID. 

With these simple steps, your money will be sent to your bank account. 

Receiving Money; Cash App also has a feature that allows you to receive money from other Cash App users. And also from your bank account. 

How To Receive Money On Cash App

 

When you receive a payment on your cash App, it will be immediately added to your balance. However, if that is your first time getting money from the sender, it will reflect on the pending transaction. You will have to accept payment before it can be added to your balance. 

Trading Of Bitcoin; Only recently, Cash App has included the feature that allows users to buy, sell, and withdraw Bitcoin using the app.

Bitcoin like you know is a leading cryptocurrency that has over the years gotten worldwide popularity in the stock market. This allows users to invest their money wisely. 

How To Buy Bitcoin On Cash App

 

• Click on the bitcoin tab on the home screen of your Cash App. 
• Tap Buy BTC on the next page
• Click on the area that has three dots(…)
• Enter an amount
• Enter your PIN
• Click on confirm and it will reflect on your BTC balance. 

Cash App Investment; Apart from Bitcoin, you can also invest in stocks through Cash App. With Cash App investment, you have a share of your favorite company.

And the most interesting thing about Cash App investment is that you must not have millions to be able to invest. With as low as one dollar ($1) you can invest in the Cash App. The stock market on Cash App opens between the hours of 9:30 am to 4 pm EST from Monday to Friday. And it demands very little or no monthly fee for monthly maintenance after buying.

The money for the stock that you want to purchase will be deducted from your Cash App balance or your linked debit card. 

How Do I Open A Cash App Investing Account?

 

To buy stock and invest in the Cash App, you do not need to open another account if you already have one. If you don’t have an account yet, open one and log in before you proceed to take the steps on how to buy stock on Cash App that will be discussed below. 

• Click on “investing” on the homepage of your Cash App
• Enter either the name of the company you want to invest in or their symbol using the search bar. 
• Select the company you want to buy from on the list that will be displayed. 
• Tap on Buy
• Choose an amount either from the ones provided it tap on the … to enter any amount of your choice. 
• Verify your information 
• Confirm your PIN or ID 

With this, your stock has been purchased successfully. 

Does Cash App Work Without A Debit Card?

 

It is still ok to use the Cash App without a bank account. However, you will either have to fund your account by requesting payment from friends or cash out by using your Cash App card known as Cash Card which can be used just like every other debit card.

Card cards can be made available to you within 10 working days provided you are 18years and above. To request a Cash Card,

• Tap on the Cash Card tab on the home screen
• Tap on Get Cash Card and click on continue
• Choose a color for the card
• Choose an option to show your $cashtag or not.
• Click on customize to sign the card.
• Enter your biodata
• Go through the terms and click on continue to order. 

Wow, Cash App is certainly a very interesting App to use. More beautiful is its security and opportunities that allow users to invest their money.

FAQ

Do You Need A Bank Account For Cash App?

 

No, using a bank account is optional. It’s not mandatory to link your bank account to Cash App.

Although there’s an option to link your debit card, but if you don’t want to add your debit card as well, you will have to transfer funds from another cash app account. So, you don’t necessarily need a bank account to access Cash App. 

Can You Actually Get Money From Cash App?

 

For you to get money from cash account is as simple as whatsoever you can imagine. All you need to do, is to link your bank account to cash App and request for payment from your family and friends.

Also, you can as well free money on cash app by completing a survey. It’s very legit, safe and secured.

How Do You Get Your Money Off The Cash App?

 

There are different ways to get cash off Cash App, it all depends on the one you find easier. However, the simplest method to get money off Cash App is the below method;

• Click on your Cash App balance in the lower left to open the Banking tab.
• Tap the Cash Out button.
• Tap to enter the amount of cash you want to withdraw.
• Tap the Cash Out button

So far in this article, we discussed how Cash App works and virtually everything you need to know about Cash App ranging from sending money to receiving and investing money. Thanks for reading through.