Can you withdraw money from an ATM using the Cash App? How does it work and what are its limitations

With Cash App, you can easily send, receive, and manage your money, but did you know you can also withdraw money from an ATM using the Cash App Card? This feature offers users the convenience of accessing their funds directly from an ATM, similar to a traditional debit card. However, it's essential to understand how it works and be aware of its limitations, including ATM withdrawal limits and fees.

This article will guide you through the process of withdrawing money from an ATM using Cash App and explain the associated limits.

Can You Withdraw Money from an ATM Using Cash App?

Yes, you can withdraw money from an ATM using Cash App. To do so, you’ll need the Cash App Card, which is a Visa debit card linked to your Cash App balance. With the Cash Card, you can withdraw cash at ATMs just like you would with any other bank-issued debit card.

How Does Cash App ATM Withdrawal Work?

Withdrawing money from an ATM using Cash App is straightforward:

Activate Your Cash Card: Before you can make an ATM withdrawal, ensure your Cash Card is activated and linked to your Cash App account.

Visit an ATM: Head to a nearby ATM that accepts Visa cards.

Insert Your Cash Card: Insert your Cash Card into the ATM, just like you would with any other debit card.

Enter Your PIN: Use the PIN associated with your Cash Card. If you haven’t set up a PIN, you can do so within the Cash App under the “Cash Card” tab.

Withdraw Your Cash: Select the amount you want to withdraw, keeping in mind that the Cash App ATM withdrawal limit applies.

What Are the Cash App Withdrawal Limits?

Like most financial services, Cash App sets certain limits for ATM withdrawals and other transactions. Understanding these limits is essential to avoid any inconvenience.

1. Cash App ATM Withdrawal Limit

The ATM withdrawal limit on Cash App is:

$310 per transaction
$1,000 per 24-hour period
$1,000 per 7-day period

This means that in any given week, the maximum amount you can withdraw from an ATM using your Cash Card is $1,000. Similarly, within a 24-hour period, you cannot withdraw more than $1,000.

2. Cash App Cash-Out Limit

The Cash App cash-out limit refers to how much money you can transfer from your Cash App balance to your linked bank account. For unverified accounts, the cash-out limit is typically low, but once you verify your identity, you can enjoy higher limits.

After verifying your identity with your full name, date of birth, and the last four digits of your Social Security number (SSN), Cash App increases your cash-out limit to:

$7,500 per week for sending funds
Unlimited amount for receiving funds

What Are the Fees for Cash App ATM Withdrawals?

While Cash App itself does not charge a fee for using the Cash Card for purchases, there is typically a fee for ATM withdrawals. This fee varies depending on the ATM provider but is usually around $2 to $3 per withdrawal.

How to Avoid Cash App ATM Withdrawal Fees

If you receive direct deposits of $300 or more into your Cash App account each month, Cash App will reimburse up to three ATM fees per 31 days. This is a great way to save money if you regularly use ATMs to withdraw cash.

Limitations of Cash App ATM Withdrawals

While the Cash Card is convenient, there are certain limitations to be aware of:

1. ATM Withdrawal Limits

As mentioned earlier, you cannot withdraw more than $1,000 per week using the Cash Card. For users who need to withdraw large sums of money regularly, this can be a limitation.

2. Fees for Non-Qualifying Accounts

Unless you receive qualifying direct deposits, Cash App does not reimburse ATM fees. If you're frequently withdrawing cash from ATMs, these fees can add up quickly.

3. Availability of Funds

In some cases, you might not be able to withdraw money from an ATM immediately after receiving funds into your Cash App balance. This is because Cash App needs to confirm the transaction, which may take a little time, especially for larger amounts.

4. No Bank Branches

Unlike traditional banks, Cash App does not have physical branches, so if you encounter any issues or need to withdraw a larger sum than the ATM allows, you cannot visit a branch for assistance.

Conclusion

Withdrawing money from an ATM using the Cash App Card is a convenient option for accessing your Cash App balance. While it offers flexibility, it’s essential to keep the ATM withdrawal limits and potential fees in mind. By verifying your Cash App account and setting up direct deposits, you can increase your transaction limits and avoid unnecessary fees. However, if you regularly need to withdraw large sums of money, the Cash App ATM withdrawal limit of $1,000 per week might be restrictive.

FAQs

1. How much can you withdraw from a Cash App at an ATM?

The Cash App ATM withdrawal limit is $310 per transaction, $1,000 per 24-hour period, and $1,000 per 7-day period.

2. Is there a maximum deposit/withdrawal limit with Cash App?

Yes, for unverified accounts, there are lower limits. However, once you verify your identity, you can send up to $7,500 per week and receive an unlimited amount. The ATM withdrawal limit remains $1,000 per week.

3. How can I withdraw money from Cash App?

You can withdraw money from Cash App by:

Transferring funds to your linked bank account (via cash-out)
Using the Cash App Card at an ATM

4. Can I withdraw cash from an ATM with Cash App?

Yes, you can withdraw cash from an ATM using the Cash App Card. Simply insert the card into an ATM, enter your PIN, and withdraw funds as you would with a traditional debit card.

5. Why can't you withdraw your money from Cash App right away?

There may be delays if Cash App is still processing the funds. It typically happens with larger transactions or deposits that require confirmation.

6. How do I withdraw money from Cash App without fees?

To avoid ATM fees, ensure that you receive direct deposits of $300 or more each month into your Cash App account. This qualifies you for up to three ATM fee reimbursements per month.