Cash App (formerly known as Square Cash) is a mobile payment service developed by Square, Inc. that all avows or permits individuals to transfer money to one another using a mobile phone app. The service is only available in the US and the UK. In September of 2021, the service reported 70 million annual transacting users and has generated $1.8 billion in gross profit.
In other words, Cash App is a digital payment platform that enables individuals to send and receive money online via an app or web. But can I transfer money from Cash App to PayPal? Transferring money from one digital platform to the other ensures that one can avail money from one payment platform to the other. There might be some charges placed on depending on the steps or methods used to move money. However, the amount of money is usually small.
It is important to note that Cash App is only available to people living in the United States and the UK. However, PayPal is available in many countries of the world. The main currency used by both platforms is US dollars. When sending money from the US to the UK via Cash App, you have to convert to the Sterling Pound, the local currency, and vice versa.
Both PayPal and Cash App are purely online payment platforms which therefore means that you do not need a physical branch. Even opening either account is online and you have to upload all the necessary documents online. The good thing with online banking is the ease of operation and convenience. You only need a smartphone or computer connected to the internet to make various kinds of transactions.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee. So, in this article we will focalize on how to transfer money from Cash App to PayPal.
How to open a Cash App account
The first method to using Cash App is by creating a Cash App account. You can use a computer or download the smartphone app to get started. You can create a Cash App account as follows.
- Download Cash App to your smartphone or visit Cash App on your browser.
- Open the Cash App.
- Enter a mobile phone number or email address in the space provided.
- Enter the code sent to you to verify your account.
- Next, you can add a bank account immediately or skip to add later.
You can only open one Cash App account using your phone number or email address. However, you may create two or more Cash App accounts using different phone numbers or email addresses. Also, note that you should have at least 18 years of age to open an account. You will also need other information as per the federal laws.
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How does Cash App work
Cash App allows you to send and receive money from friends and relatives. Cash App requires you to choose a username that starts with $Cashtag followed by several other characters when you create an account. When someone is sending you money, they can use your $Cashtag to transfer funds to your account.
Alternatively, others can use your phone number or email address connected to your account to send you money. You can also use the same information to send money to others. The $Cashtag also helps you to request money from others. That makes Cash App appear like social media since you can converse with others when requesting money.
Cash App requires you to have money in your account to run it. That means that you need to find a way of topping up your account with money. You can use your debit card or bank account to add money to your account or have one of your friends send it to you.
Interestingly, you can use Cash App to buy goods and services online. If the store has a Cash App account, it can present it to you to make payments. You can also use their email address or phone number to make payments. Alternatively, you can use Cash Card if you can buy goods online and at stores that accept card payments.
Lastly, you can transfer money from Cash App to your bank account. Cash App allows you to add a bank account that you can use to withdraw payments from your employer or money received from your friends and relatives. You can even move money to your debit card if you have one.
How to add money to Cash App using a bank account
Before adding money to your Cash App account from your bank account, you must link your bank account to the Cash App. The following is the procedure of linking a bank account to your Cash App.
- Hit the Banking tab on the home screen
- Choose Link Bank
- Follow the prompts
Once the linking is successful, you can add money to your Cash App by following the procedure below.
- Tap the Banking tab on the home screen.
- Tap Add Cash.
- Choose the amount to transfer.
- Tap Add.
- Confirm your transaction using your Touch ID or PIN.
How to transfer funds from Cash App to PayPal
Cash App does not support the direct transfer of money to PayPal, nor can you transfer money from PayPal to Cash App. However, the two apps do not prevent you from using other ways to avail money to each of them.
The best way you can transfer money from Cash App to PayPal is by using a bank account to connect the two apps. That means you should link the same bank account to both Cash App and PayPal. Since I have shown you how to add a bank account to Cash App, let me discuss how to link a bank account to PayPal. Follow the steps below.
- Select the settings icon.
- Hit on Banks and Cards.
- Tap +, then Bank account.
- Add your bank details.
- Tap Add this Bank Account.
Once you must have added an account, you can transfer money from Cash App to a bank account and then to PayPal. To transfer money from Cash App to a bank account, follow the procedure below.
- Hit on the Balance tab on the home screen.
- Select Cash Out.
- Choose your preferred amount and hit Cash Out.
- Choose a deposit speed.
- Enter your PIN or use your Touch ID to confirm the transaction.
There are two alternatives you can use to transfer money from Cash App to your bank account. They include instant or standard methods. The instant transfer applies to a debit card that links to your bank account. Money appears immediately or within 30 minutes of transfer. Instant transfers to a bank account attract some fees.
You have to part with a 1.5% fee and a minimum fee of $0.25. The standard money transfer is free, but you have to wait for around 1-3 business days for the funds to reflect in the bank account. You can use the standard transfer method if the money is not for emergency cases.
Once the money is in your bank account that links to PayPal, you can then add it to your PayPal account by following the procedure below.
- Hit the Wallet tab.
- Click Transfer Money.
- Select Add money to your balance.
- Choose your bank and enter the amount to transfer.
- Click Add.
Once you complete the steps, money will reflect on your PayPal balance, and you will have successfully transferred money from Cash App to PayPal. Remember that you can transfer money from bank to Cash App by requesting to add money to your balance, just as you have done with PayPal. That means that you can also transfer money from PayPal to Cash App using the same method.
Before we proceed lets check out some of the related articles:
- Best Way To Transfer Money From Google Pay Balance to PayPal Account
- Send Money With Checking Account Number Instantly No Verification
- How To Send Money Using Google Pay ( Step by Step Guide )
- How To Change Routing Number On Cash App
- Top Best Banks That Accept ACH Transfers In US
- Wells Fargo Swift Code For International/Global Wire Transfer
- How To Add Money From Debit Card To PayPal
How do I send money with Cash App?
Just as mentioned earlier above, Cash App allows you to send money to other Cash App users. You can either use the $Cashtag, phone number, or the email address of the recipients. Use the procedure below to send money to someone else.
- Open your Cash App.
- Enter the amount to send.
- Hit on Pay.
- Enter a phone number, email address, or $Cashtag.
- Enter the reason for sending the payment.
- Tap Pay.
The recipient should receive the money within a short moment. If it is the first time you are sending them money, they should accept the payment to reflect on their account balances. However, if they have earlier received money from you, the payment will automatically reflect on their account balance.
Can one use Cash App without a bank account?
You can use Cash App without a bank account. If you have a debit card, you can use it on your account to fund your transactions. Moreover, you can receive money from your friends and relatives and use it for your several types of transactions.
In addition, it is good to add a bank account so that at times you can transfer money to the bank to pay your bills, save for the future, buy goods online, or withdraw cash. You can even send money with a checking account number instantly to other account holders of your bank.
Can I close my Cash App account?
If you are not interested in using the Cash App account, you can delete it. However, you must ensure that you spend all the available balance since it will get lost if you close your account with some balances in it. You must also cancel all the subscriptions made using the account. To delete your Cash App account, follow the steps below.
- Hit your profile icon.
- Tap Support link.
- Tap Something Else to continue.
- Select close Account.
- Choose ‘Close my Cash App Account.’
- Confirm Closing your Account at the bottom of the page.
Also Check: How to Cancel a Pending PayPal Payment
Conclusion or Final Thoughts on How to Transfer Money from Cash App to PayPal
Cash App is an online payment service that enables you to transfer money from one person to another. You can use the $Cashtag to request money from other Cash App users. Cash App allows you to transfer money to a bank account. You can also use a bank account to add money to Cash App. Unfortunately, you cannot directly transfer money from Cash App to PayPal.