Understanding Cash App Card Fees
Cash App, a popular financial service app developed by Square, offers a variety of features including peer-to-peer transfers, direct deposits, and even stock and Bitcoin trading. One of the key aspects of using Cash App is understanding the fees associated with its Cash Card. Let’s delve into the different types of fees and how they might affect your experience with the app.
Transaction Fees
When you use your Cash App Card for purchases, you may encounter transaction fees. These fees vary depending on the type of transaction:
| Transaction Type | Fee |
|---|---|
| Debit Card Purchases | 2.75% of the transaction amount |
| Cash Back at Partner Stores | Up to 3% of the transaction amount |
| ATM Withdrawals | $2.50 per withdrawal |
It’s important to note that these fees are non-refundable and are deducted from the amount you receive after the transaction.
Card Replacement Fees
Should you lose your Cash App Card or need a replacement, there are associated fees:
| Replacement Fee | Express Delivery Fee |
|---|---|
| $5.00 | $15.00 |
Express delivery is available for an additional fee, allowing you to receive your new card within 1-3 business days.
Withdrawal Fees
When you withdraw funds from your Cash App balance to a linked bank account, you may be charged a withdrawal fee:
| Withdrawal Method | Fee |
|---|---|
| Standard Withdrawal (3-5 business days) | $1.00 |
| Instant Withdrawal (1-2 business days) | $15.00 |
Keep in mind that these fees are in addition to any fees your bank may charge for receiving the funds.
Other Fees
In addition to the fees mentioned above, there are a few other fees you should be aware of:
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Foreign Transaction Fee: 3% of the transaction amount for purchases made outside of the United States.
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Overdraft Fee: $5.00 for each overdraft transaction, up to a maximum of $15.00 per day.
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Returned Item Fee: $5.00 for each returned item, including checks and ACH transfers.
How to Avoid Fees
While Cash App does charge fees for certain transactions, there are ways to minimize or avoid them:
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Use the Cash App Card for purchases instead of credit cards to avoid the 3% foreign transaction fee.
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Opt for standard withdrawals instead of instant withdrawals to save on the $15.00 fee.
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Keep an eye on your account balance to avoid overdraft fees.
By understanding the fees associated with your Cash App Card, you can make informed decisions about how you use the app and minimize any potential costs.