How to Get Your Money from Stocks on Cash App
Investing in stocks can be a great way to grow your wealth over time. Once you’ve made some profits, it’s important to know how to withdraw your money from your Cash App investment account. Here’s a detailed guide on how to get your money from stocks on Cash App, covering various aspects of the process.
Understanding Your Cash App Investment Account
Your Cash App investment account is separate from your Cash App wallet. This means that any money you invest in stocks is not immediately available for spending. It’s important to understand the difference between your investment account and your wallet to avoid any confusion.
Your investment account is where your stocks are held, and any profits or losses are tracked. Your wallet, on the other hand, is where you can spend your money immediately. To access your investment account, you’ll need to navigate to the “Invest” tab on the Cash App home screen.
Checking Your Stock Portfolio
Before you can withdraw your money, you need to know how much you’ve earned from your stocks. To check your stock portfolio, follow these steps:
- Open the Cash App on your smartphone.
- Tap on the “Invest” tab at the bottom of the screen.
- Scroll down to the “Portfolio” section.
- Review your current stock holdings and their respective prices.
Once you have a clear understanding of your portfolio, you can proceed to the next step.
Withdrawing Your Profits
Now that you know how much you’ve earned, it’s time to withdraw your profits. Here’s how to do it:
- Open the Cash App on your smartphone.
- Tap on the “Invest” tab at the bottom of the screen.
- Scroll down to the “Portfolio” section.
- Select the stock you want to withdraw from.
- Tap on the “Withdraw” button next to the stock’s price.
- Enter the amount you want to withdraw.
- Review the transaction details and confirm the withdrawal.
Once you’ve confirmed the withdrawal, the money will be transferred to your Cash App wallet. The transfer time can vary, but it typically takes a few minutes to a few hours.
Understanding Withdrawal Fees
It’s important to note that Cash App may charge a fee for withdrawing your profits. The fee amount depends on the amount you’re withdrawing and the method you choose. Here’s a breakdown of the withdrawal fees:
| Withdrawal Amount | Withdrawal Fee |
|---|---|
| $1 – $50 | $1.50 |
| $51 – $100 | $2.00 |
| $101 – $250 | $2.50 |
| $251 – $500 | $3.00 |
| $501 – $1,000 | $3.50 |
| $1,001 – $2,500 | $4.00 |
| $2,501 – $5,000 | $4.50 |
| $5,001 – $10,000 | $5.00 |
Keep in mind that these fees are subject to change, and it’s always a good idea to check the latest fee schedule on the Cash App website or within the app.
Alternative Withdrawal Methods
In addition to withdrawing your profits to your Cash App wallet, you can also choose to withdraw to your bank account. Here’s how to do it:
- Open the Cash App on your smartphone.
- Tap on the “Invest” tab at the bottom of the screen.
