Since its inception, Cash App has always been in demand due to a broad range of reasons. Merchants love to use Cash App to receive payments from their customers as it is fast and safe to use. On the other hand, non-businessmen prefer to use a Cash App as it is simple and convenient to send and receive money from family and friends.
Cash App has everything that one can expect from a quality payment app. At the time of setting up an account, Cash App gives the choice to choose the type of account one wants to create. Personal or Business. People who chose business over personal, contact us and ask a question- how do I change my Cash App from business to personal?
While others want to know whether or not they can change their Cash App back to personal.
What is the difference between Cash App personal and business?
If the truth is told, there are more similarities and fewer differences between Cash App for business and personal accounts. Both are free to download, set up, and store money. Plus, in terms of features, Cash App business and personal accounts both are the same.
For example, features like Cash App direct deposit, cash card, borrow money, and hashtag all are the same except for one thing. And that is the fact that eligible business account holders get a 1099-k and 1099-B form to report taxes. Another difference between the business and personal account lies in the Cash App fee structure.
How do I change my account on Cash App?
As you have learned about the differences between the Cash App personal and business account, now let’s proceed to our next important question. How can you change your Cash App from business to personal or vice-versa?
It is super simple. If you have access to your Cash App mobile application you can change the type of your account for free within a few seconds. You need to navigate through your profile section and follow the steps mentioned in the next section.
Can I have Use two accounts: Cash App for Business and Personal
This is a frequently asked question among Cash App users. People ask such queries because they want to get the most out of the Cash App. The truth is that having two Cash App accounts is only possible if you have two separate phone numbers. That is, if you want to open a business account and a personal account, you will need to have distinct phone numbers.
You may also be required to use a new email address and a debit card that has not before been registered in Cash App. If you have a dual SIM phone, it is quite simple to set up and utilize two Cash App accounts. Cash App for Business and Cash App for Personal. You might be wondering how to set up a second Cash App account.
- Open the Square Cash App on your device.
- On the home screen, tap the profile-shaped symbol.
- Go all the way down to the bottom and click the sign out button.
- After successfully exiting the Cash App, click the “sign up” option.
How to Change Your Cash App From Business to Personal?
Even if you are a merchant but do not receive more than $20,000 or make more than 200 transactions in a month then using a personal Cash App account will be a smart decision. So, without any second thought just do as mentioned below:
So, as a first step, open the Cash App. Now from the top right corner select the round-shaped profile button. After that from the drop-down menu tap the personal button. Move down and at the bottom of the screen, you will find “Change Account Type”, select it.
If you are sure about changing your account from business to personal on Cash App then scan your finger or enter the PIN. Now immediately your Cash App business account will change to the personal one.
How to Change Your Cash App from Personal to Business?
When it comes to receiving money, Cash App for business is not free. But, let’s not forget that other payment gateways and payment apps are also not free. In comparison to all other options available for receiving payments from customers, Cash App fees are quite less.
If your business requires you to receive more than $20,000 in a month then Cash App for the business account must be your first choice. Gladly, you can change your Cash App account to business with the help of the below-mentioned steps:
- Open Cash App and get into your
- Select the personal
- After that select the change account
- Enter the Cash App PIN or scan your touch id to confirm the
Can I Have Both Cash App For Business Personal?
Nowadays, this is a common question with Cash App users. Many people ask such questions due to their desire to reap the maximum advantages from Cash App. However, the possibility of having two cash App accounts is only feasible with two different phone numbers.
If you wish to establish two accounts, one for business and one for personal accounts, you’ll require two different numbers. If you own two SIM phones, it is easy to create and use two Cash App Accounts. Cash App for Business and Personal. Additionally, you will have to use a new email address and a debit card not registered on Cash App.
What Are The Benefits Of A Cash App Business Account?
As the name implies, the Cash App business account is specifically designed for those who run small and medium businesses. What has attracted many business owners is that this Square payment app allows business owners to accept payments with ease.
Before wrapping this post on how to change Cash App account from Business to Personal, we invite our readers to look at our newly published post about how to use the Cash App anonymously.
Transaction limits (daily, weekly, monthly) for the business account are higher than those of a Personal account.
At the year-end, Cash App will issue you some sort of 1099 (1099 is an Internal Revenue Service (IRS) form that is used to report income received through sources other than employment) for all the transactions you receive through the app and it will be issued to the IRS as well. Cash App Business will charge a 2.75% fee to receive payment for services.
Your account will display an additional icon on your Cash App name that looks like a little building to identify you are a business account.
Simplicity is quite evident in everything that Cash App does. The same level of simplicity lies in the process of changing Cash App from business to personal or personal to business.
As you have read this post now proceed and change your account type as you wish. If you face any kind of problem, feel free to contact the Cash App customer service.
