How much does Cash App take from $500?

Cash App Withdrawal Fees for $500 Transactions

Cash App, a popular mobile payment platform, offers instant withdrawal options for its users. However, there are associated fees for these withdrawals, and the amount charged can vary depending on the amount being withdrawn.

Fees for $500 Withdrawals

Specifically, for a $500 withdrawal from Cash App, the instant withdrawal fee can range between $2.50 and $8.75. This fee is applicable regardless of the type of account you have with Cash App.

Factors Affecting Fees

The variation in fees is primarily due to the different methods used for instant withdrawals. Cash App offers two options:

• Standard Withdrawal: This method takes 1-3 business days to process and has a lower fee of $2.50.
• Instant Withdrawal: This method allows you to withdraw funds immediately but incurs a higher fee of $8.75.

Additional Information

It’s important to note that these fees are in addition to any other applicable charges, such as ATM fees or bank transfer fees. Additionally, Cash App sets a minimum withdrawal amount of $20, so withdrawals less than this amount are not permitted.

Recommendation

To minimize withdrawal fees, it’s recommended to use the standard withdrawal method unless you require immediate access to your funds. This will allow you to save on the $6.25 difference in fees.