Cash App is a popular mobile payment app that allows users to send and receive money quickly and easily. The app is used by millions of people around the world, including business owners who use it to accept payments from customers. However, if you are a business owner who wants to switch your Cash App account from business to personal, you may be wondering how to do so. In this article, we will guide you through the process of changing your Cash App account from business to personal.
Why Switch from Business to Personal?
Before we dive into the steps for changing your Cash App account from business to personal, let’s first discuss why you might want to make this switch. There are several reasons why you might want to switch from a business account to a personal account on Cash App.
Firstly, personal accounts have lower transaction fees compared to business accounts. If you are a small business owner who doesn’t process a large volume of transactions, switching to a personal account can help you save money on fees.
Secondly, personal accounts have fewer restrictions compared to business accounts. For example, with a personal account, you can send and receive unlimited amounts of money without any limitations. With a business account, there are limits on how much money you can send and receive.
Lastly, if you are no longer using your Cash App account for business purposes, it makes sense to switch to a personal account. This will help you avoid any confusion or complications with your account in the future.
Steps for Changing Your Cash App Account from Business to Personal
Now that we’ve discussed why you might want to switch from a business account to a personal account on Cash App, let’s dive into the steps for doing so.
Step 1: Log in to Your Cash App Account
The first step is to log in to your Cash App account using your email address or phone number and your password. Once you are logged in, you will see the Cash App home screen.
Step 2: Go to Your Account Settings
Next, you need to go to your account settings. To do this, tap on the profile icon in the top left corner of the screen. This will take you to your account settings.
Step 3: Select “Personal” Account Type
In your account settings, you will see an option for “Account Type.” Tap on this option, and you will see two choices: “Personal” and “Business.” Select “Personal” to switch your account type.
Step 4: Confirm Your Change
After selecting “Personal” as your account type, Cash App will ask you to confirm your change. Tap on “Confirm” to complete the process.
What to Do If You Have Pending Transactions or Funds in Your Business Account
If you have pending transactions or funds in your business account, you will need to transfer them to your personal account before switching your account type. To do this, follow these steps:
1. Go to your Cash App home screen.
2. Tap on the “Activity” tab.
3. Find the pending transaction or funds in your business account.
4. Tap on the transaction or funds.
5. Tap on “Cash Out” to transfer the funds to your personal account.
Once you have transferred all funds from your business account to your personal account, you can follow the steps above to switch your account type.
Switching your Cash App account from business to personal is a simple process that can help you save money on fees and avoid any confusion or complications with your account in the future. By following the steps outlined in this article, you can easily switch your account type and enjoy the benefits of a personal Cash App account. Remember to transfer any pending transactions or funds from your business account to your personal account before making the switch.