Square
Many transactions are free on the Cash app, but there are some transactions that include a minimal extra fee.
- Many $4 transactions between users are free, but there are instances in which you may be charged a small fee for a transaction.
- When you make a payment using a credit card on $4, $4 adds a 3% fee to the transaction.
- Standard transfers on the app to your bank account take two to three days and are free, while instant transfers include a 1.5% fee.
- $4.
If you use a personal $4 account linked to your bank account or debit card and aren't in a rush to transfer payments, then you might never have to pay a single cent for your transactions. However, if you opt to use a credit card to send money or need an instant transfer, $4 charges minimal fees.
There are a few cases in which you might incur $4 charges, but with the included convenience of sending, receiving, and transferring money, you probably won't even mind paying up.
Here's when your $4 will charge you a fee
If you are sending money via a credit card linked to your Cash App, a 3% fee will be added to the total. So sending someone $100 will actually cost you $103. This is a rather standard fee with other payment apps as well, like PayPal, and is about the same rate businesses usually absorb with credit card transactions.
Steven John/Business Insider
Cash App accepts major credit cards, including Discover, MasterCard, Visa, and American Express.
The other common charge Cash App users will see is a 1.5% commission added when they opt for instant transfers from the app to a bank account. However, this fee can easily be avoided by simply opting for a standard transfer, which takes two to three days.
Steven John/Business Insider
You must have a valid debit card linked to your bank account to set up a Cash App account.