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If you have been using Cash App as a business account, you’ve probably realized there are additional fees for making transactions and withdrawals.
As a result…
You may have decided you don’t want that business Cash App account anymore or maybe you no longer have your business and consequently don’t need it.
Whatever reason you have, you’ve decided to change your Cash App from a business account back to a personal one.
But can you change it and if so – how?
Cash App will allow you to change your account from business to personal. Unfortunately, there is no way to do so yourself using Cash App so you will need to contact customer support to make the change.
You will want to ensure that you provide your personal information, not company information when contacting Cash App support.
Once they have updated everything, you can access your new personal account just like before.
In the following post…
I walk you through exactly what you need to do and what else you need to know including how you can get both a business and personal Cash App account.
How To Change Your Business Cash App to a Personal Cash App
If you have a business Cash App account and want to change it to a personal account, there are a few steps you need to follow.
The process isn’t as simple or straightforward as switching from an individual to a business account (which is annoying).
You can change your Cash App from a Business account to a personal Cash App account by following these steps:
- Step 1: Launch Cash App and log in to your account.
- Step 2: At the top right of the screen, tap the profile icon.
- Step 3: Next, scroll down and tap on Support.
- Step 4: Tap on “Something Else”.
- Step 5: Tap on “Cash for Business”.
- Step 6: Tap on “Contact Support”.
- Step 7: Tap on the “Chat” button at the bottom and explain you’d like to switch your Cash App back to a “personal account”.
You should wait for them to get back to you with a solution to your request.
The support staff will help you transition to your new account and explain how to send funds.
Many great features come with being a personal user of the Cash App, such as access to your profile and safety settings in the app.
Other Ways to Contact Cash App Support
As I showed you above…
The easiest way for most people to contact support to have their Cash App account switched back to a personal account is to do so using the chat function inside Cash App.
However, using chat support isn’t your only option.
These are the other ways you can contact Cash App support:
On the Phone
You can contact Cash App customer support by phone.
They are available from 9:00 a.m to 7:00p.m 5 days a week and will be able to help you make the switch over.
The Cash App support phone number is 1 (800) 969-1940.
You can also try direct messaging their social media accounts for assistance.
This isn’t something I personally tried so I’m unsure if they’ll just direct you to use the other 2 methods discussed above.
But you can always try if that is a preferred method of contacting support for you.
Cash App official social media accounts include:
- Facebook: SquareCash
- Twitch: twitch.tv/CashApp
- Twitter: @CashApp @CashSupport
- Reddit: u/CashAppAndi
- Instagram: @CashApp
Contact by Mail
Cash App also allows its users to contact them by mail if they don’t want to use their phone or email.
You can find their mailing address on the Contact Us page of the website: Cash App, 1455 Market Street Suite 600, San Francisco, CA 94103.
When you send your letter, include your username for verification, any pending issues with the app, and whether you’re requesting service for personal or business purposes.
Why Can’t You Change Your Business Cash App to a Personal Cash App Yourself?
Like most people, you probably think you can change your business Cash App to a personal Cash App.
After all, it’s just a matter of going into the settings and changing the account type, right?
False! (as “Dwight” says)
You cannot change your business Cash App to a personal Cash App yourself (as I said before, annoying).
This is necessary because Cash App aims to prevent fraud and maintain compliance with know-your-customer (KYC) regulations by verifying new accounts.
They also limit the time users can switch between business and personal accounts.
You will need to contact Cash App customer support to have your account converted.
How To Know if Your Cash App Is a Business or Personal Account
All Cash accounts are personal by default, but you can easily change your account if you use it for business purposes.
Launch the Cash App on your phone to differentiate between your personal and business Cash app.
In Cash App, a small green color icon next to your name indicates that you have a business account.
You can also check the limits on your account in the menu tab at the top of the screen under Settings.
A verified Cash App business account has a sending limit of $7500 per week and $17500 per month.
Can I Have Both a Business Cash App and a Personal Account?
When using Cash App, you may want to separate your business from your personal life.
One way is to have a business and personal account.
Luckily, Cash App allows you to have a business and a personal account, provided each is associated with a different email address and phone number.
You need to add a different debit or credit card & bank account to your second Cash App account.
You can sign in to the two accounts independently but cannot simultaneously sign in to more than one account in the same app.
Common Reasons People Change a Business Cash App To Personal
When you start your business, you may want to keep all your finances together in one place to avoid confusion and make it easier to manage your money.
If you continue to grow, there may come a time when you want to separate your finances from your business finances.
Many entrepreneurs change their business Cash App over to personal once they reach a certain level of success, even if they plan to continue running their business from the app.
Below are some common reasons people switch from a business cash app to a personal cash app.
When a Business Is No Longer Operational
If your business is no longer operational, you may want to change your Cash App from business to personal.
This switch will allow you to continue using the app without having to go through setting up a new account.
You’ll be able to send and receive money just like before, but this time as an individual.
You May Get Better Customer Service With a Personal App
You may not always get the best customer service when you have a business cash app.
This claim is valid because many organizations treat businesses differently than individuals.
Switching to a personal account will make contacting Support easier without issues or waiting on hold.
You Can Simplify Your Finances
By consolidating your business and personal finances, you can simplify your life and make it easier to keep track of where your money is going.
As a bonus…
Using a personal account will make it easier for friends and family to send or receive money from you.
To Avoid the Hassle of Managing Two Separate Apps
If you’re like most people, you probably have a lot of different apps on your phone.
And if you’re running a business, you likely have even more.
Managing two separate apps can be a hassle, especially if you’re trying to keep track of your finances.
It’s easy to miss transactions, and keeping track of the number in each account is challenging.
It can also get confusing if you make personal purchases through the app, and it throws off your budget because you need to reconcile it with a credit card or bank statement manually.
For that reason…
Many people will switch their business cash app to a personal one for reasons such as:
- You can consolidate all transactions into one place
- It’s easier to reconcile expenses with income
- You don’t have to worry about spending money from the wrong account when making an online purchase.
To Avoid Missing Out on Special Offers
When you have a business cash app, you may miss out on some great offers available to personal account holders.
You may want to change your business account for more convenience or special discounts. By switching to a personal account, you can take advantage of these offers and save money.
To Access All Available Tools & Features
If you’re a business owner, there are plenty of reasons to change your business cash app to a personal one.
For instance, you’ll have access to all of the features and tools that come with the personal version of the app.
These features include the ability to track your spending, set budgeting goals, and more.
You can also transfer funds to other people without paying any transfer fees.
It’s also possible to get instant customer service from live Chat or by phone.
Cash App Business Only Connects to Your Bank Account
People also change their business Cash App to a personal one because the former only connects to your bank account.
You receive a practical cash card with a personal account that connects to your Square account.
That way, you may spend money instantly, free of transfers or fees.
Only Square Cash personal users are eligible for that advantage.
The only ways to spend your funds using Square Cash for Business are by transferring them to your bank account or paying a 3% fee to transfer them to a credit card.
This result can be frustrating if you have a busy day and want to make an impulse purchase without waiting for any transactions to clear.
Switching your Cash App business to a personal account will help you avoid those long delays.
To Avoid High Charge for Instant Deposits
Same-day or fast deposits are available through Square but come at a cost.
Other Square tools charge 1% for fast and same-day transfers, but Square Cash for Business charges 1.5%.
You can avoid this high fee by switching to a Cash App personal account.
It also saves time because there is no need to set up bank accounts just for business transactions.
Main Differences Between a Personal Cash App and Business Cash App
As established earlier in the article…
There are two main types of Cash App accounts: personal and business.
Business Cash App users can access features like managing different payrolls.
However, it’s essential to understand the differences between personal and business accounts before signing up for either.
Here are three main differences between personal and business cash apps you should know before choosing which one to use for your company’s transactions.
The first difference between the two is limits.
Cash for Business account holders can accept payments with no transaction limit, while personal account holders are limited to $2,500 daily deposits.
However, you can only send $7,500 weekly using your verified Cash App business account to transmit money.
Personal accounts, however, have a cap on the volume that can be sent and received.
Verified users can send up to $2,500 per week, while unverified ones can only send up to $250.
Additionally, there is a $1,000 monthly cap on the amount that personal account users can receive.
When using a business Cash App, every payment you receive is subject to a transaction cost of 2.75%, which is standard for other payment options.
For instance, debit card transactions and app transfers have a 2.5% fee, while the cost of using a credit card is 2.75%.
On the other hand…
With a personal account, Cash App doesn’t charge fees, meaning that your money goes straight into your account without going through a third-party company.
You’ll only be charged for an instant transfer if you want to send money directly from one bank account to another, which costs $0.25 per transfer.
However, you can also choose a no-fee standard transfer, which typically takes one to three business days to complete.
Personal cash apps like Venmo or Paypal allow individuals to send and receive money from others.
Individuals use these apps for peer-to-peer payments, like splitting the bill at a restaurant or sending rent money to a roommate.
You can use Cash App as a bank account in addition to sending money, where Cash App provides you with a routing number and account number. You can also set up direct deposits for your paychecks.
Business cash apps offer services geared more towards business needs.
It allows businesses to accept credit card payments on their website or mobile app, process deposits, and even open an online store.
Cash App offers protection against fraud and chargebacks with its seller protection program.
The seller protection program means that if your customer files a dispute in good faith with their credit card company, then they will step in to help you resolve it.
Wrapping Up – How to Change Your Business Cash App to Personal
- To change your Cash App back to a personal account from a Cash For Business account, you need to contact Cash App support.
- You can’t change Cash App to a personal account yourself from within the app.
- You can have a Cash For Business and a personal account if you use a separate bank account, email address, and phone number.
- There are several ways you can contact Cash App support.