Before the advent of payment services via mobile, people primarily relied on bank accounts only for money transfers. Without the internet, transactions like making and receiving payments were relatively sluggish and slow. Additionally, changing the type of account was also a bit complicated. However, the whole scenario has changed now. If you talk to any Cash App user, they can’t resist admiring the ease of use and the compatibility of Cash App. Mainly, switching the type of account from Business to Personal and the reverse is relatively easy. However, the unfortunate fact is that many people still don’t know “How to change Cash App account from Business to Personal.”
If you are also not aware of the simple steps to change Cash App account from Business to Personal and vice versa, we strongly suggest you read this post till the last section. Also, you will learn an overview of setting up and keeping multiple Cash App accounts.
Also Read: How To Access An Old Cash App Account?
How do I Change Cash App Account From Business to Personal?
Most Cash App users already know that they can sign-up with either a Business or Personal account on Cash App. Cash App lets users decide on the type of account they wish to open when signing up. Most people select “Personal,” while some prefer a Cash App for Business account. The Cash App accounts’ most significant benefit is that the users can change their Cash App for business Account to Personal and vice versa with just a few easy steps to set up the account. Follow the below steps to change Cash App account from business to personal.
- The first step is the Cash App login.
- Now, click on the profile button from the home screen.
- Select the Personal tab.
- Scroll down and tap on “Change Account Type” from Business to Personal.
- To confirm the change, scan your finger or enter your PIN.
- Now you are all set as the Cash App account for Business got changed to a Personal.
What’s the difference in fees between Cash App for a business and a Personal Account?
A business Cash App account is much different from a personal account from every standpoint. While personal account Cash App users must pay for instant deposits, the Cash App for business account holders avail of this at no cost.
So, you’ll be more efficient in completing transactions without losing money during the process.
For Cash App personal account users, accepting transactions and payments is free. However, Cash App for Business customers must pay the standard 2.5 percent per transaction.
It could be why people contemplate switching to a personal one from Cash App for a business account.
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 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. Follow the below-mentioned steps to create a Second Cash App account.
- Open the Cash App on your phone.
- Click on the Profile tab on the home screen.
- Press the Sign Out at the bottom
- After signing out from the Cash App, now Tap the “sign up” button.
- Follow the easy on-screen instructions such as entering your mobile number, email address, bank details, and so forth.
- Select either Business or Personal when choosing the account type.
- Make sure to input different email addresses, numbers, and bank accounts while creating the second Cash App accounts.
After successfully creating a new Cash App account, you can now avail yourself of one of the best features of Cash App just by learning how to order a Cash Card 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. These are the significant advantages that come with having a business account on the Cash App.
- Limits on transactions (daily, weekly, and monthly) for business accounts are higher than for personal accounts.
- When the year is over, Cash App will issue you 1099 (1099 is an Internal Revenue Service (IRS) form that allows you to report income earned through other sources beyond employment) for every transaction that you make via the app. In addition, It shall be issued to the IRS too.
- Cash App business charges a fee of 2.75 percent to receive payment directly from customers.
- The account you have will show an additional icon next to Your Cash App name, which resembles an element of a building to distinguish a business account.
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.
In this post, we have clarified how to change the Cash App business account to personal. At the same time, we have also mentioned how to create a second Cash App account.
We believe all the information mentioned above about switching Cash App accounts will prove helpful and practical for Cash App users. However, if you still have any doubts or queries, you can feel free to contact us for further help.
FREQUENTLY ASKED QUESTIONS
Can you have two Cash App accounts?
Of Course! You can create two or more Cash App accounts provided you enter the different email Id, Mobile numbers, and bank accounts for every account.
Can I change Cash App account from business to personal?
Yes, you can indeed switch Cash App accounts from business to personal and reverse using a few simple steps mentioned above in the post
How To Change Cash App Account From Personal to Business?
Follow the below process:
- Open the Cash App on your phone.
- Click on the profile tab from the home screen.
- Choose the personal tab.
- Scroll down and tap on “Change Account Type” from Personal to Business
- To confirm the change, enter your PIN or scan your finger.