In 2024, Cash App transaction limits are structured around two key factors: whether the user has verified their account and the type of transaction being conducted. Verification typically involves providing identifying information such as your full name, date of birth, and the last four digits of your Social Security Number (SSN).
Limits for Unverified Cash App Accounts
Unverified accounts are subject to stricter limits. If you have not verified your identity on Cash App, you will face more limited transaction capabilities. Here are the limits for unverified accounts:
- Cash App Sending Limits: Unverified accounts can send up to $250 within a 7-day period.
- Cash App Receiving Limits: You can receive up to $1,000 within a 30-day period.
- Cash App Withdrawal Limits: Unverified users may have limited access to withdrawal options, particularly in terms of transferring money to a bank account or withdrawing funds from an ATM.
To fully unlock Cash App's features, including higher transaction limits, you need to verify your account.
Limits for Verified Cash App Accounts
Once you verify your account, you’ll gain access to much more flexible and higher limits. Verified users enjoy the following limits:
- Cash App Sending Limits: Verified users can send up to $7,500 per week.
- Cash App Receiving Limits: There is no limit on the amount you can receive once your account is verified.
- Cash App ATM Withdrawal Limits: Cash App allows you to withdraw up to $1,000 per transaction, $1,000 per day, and $1,000 per week from an ATM.
- Cash App Cash Card Purchases: If you use a Cash App Card, you can spend up to $7,000 per transaction, $10,000 per day, $15,000 per month, and make up to 20 transactions per day.
How to Increase Your Cash App Limits
Raising your Cash App limits is straightforward and can be done by verifying your account. Here’s a quick guide on how to do that:
- Open Cash App: Launch the Cash App on your mobile device.
- Enter Personal Information: Navigate to the profile section and enter your full name, date of birth, and the last four digits of your SSN when prompted.
- Submit Information: Follow the instructions and submit the necessary information for verification.
- Verification Completion: Once your identity is verified, you’ll receive a confirmation, and your transaction limits will automatically increase.
ATM and Withdrawal Limits on Cash App
For users who regularly use the Cash App Card, ATM and withdrawal limits are another important factor to consider. Here’s what you need to know for 2024:
- ATM Withdrawals: The maximum amount you can withdraw from an ATM is $1,000 per day, $1,000 per transaction, and $1,000 per week.
- Over-the-Counter Withdrawals: If you visit a bank or other financial institution to withdraw funds using your Cash App Card, the same limits apply.
- Cash App Limits on Instant Transfers: Cash App’s Instant Transfer feature lets you send money to your bank instantly for a fee. Verified users can transfer up to $25,000 per week through instant transfers.
Cash App Bitcoin Transaction Limits
One of the standout features of Cash App is its ability to facilitate Bitcoin transactions. In 2024, Bitcoin enthusiasts will find the following transaction limits on the platform:
- Bitcoin Purchases: Verified users can buy up to $100,000 worth of Bitcoin per week.
- Bitcoin Sales/Withdrawal: You can withdraw up to $2,000 worth of Bitcoin per day and $5,000 within any 7-day period.
These limits apply whether you are buying Bitcoin through the app or withdrawing it to an external wallet. To raise your Cash App Bitcoin transaction limits, you may need to complete additional verification steps, including providing information about your income sources.
Cash App Direct Deposit Limits
If you use Cash App to receive direct deposits, you’ll find the following limits:
- Maximum Direct Deposit Amount: Cash App allows users to receive up to $50,000 in a single day through direct deposit.
- No Monthly Limits: there is a cap on the total amount of money you can receive via direct deposit each month.
Many users appreciate this feature as it allows for seamless integration of their payroll or government benefits into their Cash App balance.
Managing Transaction Limits
Cash App offers flexible limits, but understanding and managing them is crucial for efficient use. Here are some tips on how to manage your limits:
- Keep Your Account Verified: Verifying your account unlocks higher limits for transactions and withdrawals.
- Check Your Limits Regularly: It’s important to keep track of your transaction limits by visiting the profile section of the Cash App.
- Utilize Direct Deposit: Direct deposits on Cash App provide higher incoming transaction limits, making it a great option for receiving salaries or large sums of money.
- Bitcoin Transactions: Make sure to complete any additional verification steps if you plan to deal with high-value Bitcoin transactions.
Conclusion
In 2024, Cash App transaction limits are designed to offer flexibility for both verified and unverified users. While unverified users face tighter restrictions, verified users can enjoy significantly higher sending, receiving, and withdrawal limits. Additionally, features like Bitcoin transactions, direct deposits, and ATM withdrawals add versatility to Cash App’s growing list of functionalities. To make the most of Cash App, ensure your account is verified, and always stay informed about the platform’s transaction limits.
