How much does Cash App charge to take out $500?

Cash App Withdrawal Fees for $500 Transactions

Cash App is a popular mobile payment service that allows users to send and receive money, as well as make purchases. However, when it comes to withdrawing funds from your Cash App account, there are certain fees to be aware of.

Standard Withdrawal Fees

For standard withdrawals that take up to 3 business days to process, Cash App does not charge any fees. You can withdraw $500 or any other amount without incurring any additional costs.

Instant Withdrawal Fees

If you need your funds immediately, you can opt for instant deposit. This service is available for a fee of 0.5% to 1.75%, with a minimum charge of $0.25. Therefore, to instantly withdraw $500, you would be charged between $2.50 and $8.75.

Personal vs. Business Accounts

The withdrawal fees for instant deposits apply equally to both personal and business Cash App accounts.

How to Withdraw Money from Cash App

To withdraw money from your Cash App account:

1. Open the Cash App on your smartphone.
2. Tap the “Banking” tab.
3. Select “Cash Out.”
4. Enter the amount you wish to withdraw.
5. Choose “Standard” for free withdrawal or “Instant” for an immediate fee-based withdrawal.
6. Confirm the transaction.

Tips for Minimizing Withdrawal Fees

• If you don’t need your funds immediately, use the standard withdrawal option to avoid fees.
• Plan your withdrawals in advance to minimize the number of transactions and therefore the total fees incurred.
• Link your Cash App account to an external bank account to transfer funds for free, but note that bank transfer times may vary.