Now, I go out with my friends without cash as I use my mobile to pay through the Cash App. However, because I run a small business in the United States, I count on a Cash App business account to receive and transfer money online. And, using a Cash App business account for personal use cost me a leg and an arm in taxes. You pay tax to use a Cash App business account, while a Cash App personal account is free. So, this blog is about how to change your Cash App account from business to personal account. Besides that, this blog also includes brief details about how to set up personal and business accounts on a Cash App, the benefits of a Cash App business account, and many more.
You can contact us if you are not a fan of reading but need to know how to change your Cash App account from business to personal.
Let’s start from the basics:
What is a Cash App?
Beyond saving, sending, and receiving money, Cash App, a mobile payment, allows users to invest in stocks and Bitcoin, purchase gift cards, and pay bills via Cash App business or personal account.
How many Types of Cash App Accounts?
Cash App lets you open two types of accounts: personal and business. Cash App personal account is best for individuals who want a safe and secure online payment application to send and receive money from friends and family. A Cash App Business account is beneficial for successful brands or small businesses to accept payments and pay taxes.
How to Change Your Cash App Account from Business to Personal?
So, the fact is that you have no option for how to change a Cash App from business to personal. Cash App doesn’t allow one user to have two Cash App accounts with the same number and email address. Besides that, the app follows a rule that if you have a business account, you cannot convert it to a personal account.
If anyone asks you how to change your Cash App account from business to personal, share this blog link with them.
How to Open a Personal Account If You Cannot Change Your Cash App Account from Business to Personal?
You will need to use a different email address and phone number than the ones associated with your business account to open a new personal Cash App account. Hence, there is no other way to change your Cash App account from business to personal.
Here are the steps to follow to open a separate Cash App personal account when you cannot change Cash App from business to personal:
- Download a new Cash App
- Click on the sign up button
- Now add your details, like your name, number, and email address
- Create a unique and tough-to-guess password
- Click on the Create Account option
- Now add the verification code that you received from Cash App to your email address or phone number
- Click to verify your account
Your Cash App account is ready to use. Remember, like the way you cannot change your Cash App account from business to personal, you cannot use two Cash App personal accounts. So, before creating a new personal account, close your old Cash App personal account if you already have any.
Can you send money from your business Cash App to a personal account?
You can send money from your business Cash App to a personal account. However, there is a 2.75% fee for all business transactions.
How to Send Money from a Cash App Business to a Personal Account?
- Login to your Cash App business account
- Click on the “$” icon
- Then tab on cash out
- Add the amount you want to transfer
- Select the bank account for the transaction
- Click on cash out
Now you know there is no option to change Cash App from business to personal account. And you know how to open a Cash App personal account. Feel free to reach out to us if you have any concerns related to this topic.
FAQs Related To How to Change Your Cash App Account from Business to Personal!
What are the Steps to Set Up a Cash App Business Account?
To set up a Cash App business account, you will need to provide the following documents:
- Your business name
- Your business address
- Your business phone number
- Your business EIN (Employer Identification Number)
- Your Social Security number
You may also need to provide additional documentation, such as a copy of your business licence or other documentation that proves your business is legitimate.
Benefits of Cash App Business Account
Cash App business accounts offer several benefits, including:
- Accept payments from customers
- No receiving limits
- Free instant transfers
- Sales, fees, and tax reports
Can you have Both a Cash App Business and Personal Account?
Yes, you can have both a Cash App business and personal account. However, you must use separate email addresses and phone numbers for each account.
Cash App Business Account vs Personal Account
2.75% for all transactions
No fees for
limits; up to
Up to $250 per
and $1,000 per
How to Receive Money from a Business Account on a Cash App?
To receive money from a business account on a Cash App, provide the sender with your $Cashtag or QR code. The sender will send you money using the Cash App.
When you Cannot Change your Cash App Account from Business to Personal?
You cannot change your Cash App account from business to personal if you have received above $10,000 in business payments in the past year.
Why is a Business Account not Available for my Account on a Cash App?
There are a few reasons why a business account may not be available for your account on Cash App:
- You are not in the United States or the United Kingdom.
- You are under the age of 18.
- You have a history of violating Cash App's terms of service.
Contact us for support and assistance if you have trouble setting up a Cash App business or personal account.