What happens when you change your Cash App account to business?
There are two types of accounts on Cash App i.e. personal account and business account. Users can set up a cash app personal account, or a business account as per the requirement. The security and payments features are the same in both accounts.
However, the business account comes with more facilities. Users can receive unlimited money on a Cash App account or linked bank account. Those who want to deal in limited transactions can go for a personal account. The business account is meant for those who have a business or want to deal in numerous transactions. The business account holder is eligible to get the following benefits:
- Cash App business account is safer than the personal account as the business accounts are verified on cash App.
- There are no restrictions on receiving funds on a business account. One can receive unlimited transactions on Cash App. However, Cashapp.com charges 2.75% for each transaction.
- People with Cash App business accounts can create a payment link so that customers can pay directly using the link.
- The users can also place the payment link on the website for receiving payments for online purchases.
- There is a charge of 1.5% for an instant deposit on the Cash App.
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