If you are getting hit with instant transfer fees on Cash App and looking for a way to turn off the instant deposit option on Cash App, you are on the right post. In this guide, we will cover the ways to turn off instant deposit and use the standard deposit feature that does not attract any fees.
Cash App does has raised its instant deposit fees in 2022 charging a variable fee of 0.5% to 1.75% with no maximum limit (Minimum Fees-$0.25). Earlier, there was a flat 1.5% fees on the transfer amount with a maximum cap of $25.
So this is in fact a steep rise and no one likes to pay for transferring money to their own account.
While you can easily avoid the fees by choosing to do a standard deposit instead of an instant deposit. But it will take a longer time 1-3 business days. But then again it is free and a little patience can help you save money.
So if we get to the core question:
How to Turn off Instant Deposit on Cash App?
There is no direct way to turn off instant deposit in Cash App, as it is a standard Cash App feature. However, if you do NOT link your bank debit card to your Cash App account and only add your bank account (via Plaid or manually using the bank routing number), you will be able to automatically avoid the instant transfer option, as it works only with a debit card.
If you have any debit card added to Cash App, you can remove it from Cash App, to avoid any possibility of accidentally placing an instant deposit and getting hit with the instant transfer fees.
In other words, remove your bank debit card from Cash App and only keep your bank account linked directly.
But do note that Cash App does not allow you to add money from linked bank account and needs a debit card if you want to add money to your Cash App balance from bank.
So if you want to add money to Cash App, you will have to link debit card again or use an alternative option like Apple Cash to add money.
A linked bank account only supports the standard deposit feature.
The instant transfer option can be used only with a bank debit card and not with a linked bank account.
Other ways of instant transfer at lower cost
If you want to save money and still use the instant transfer option, there are some hacks you can use.
One such option is adding your Cash App Card to Apple Pay.
Apple Pay allows you to do an instant transfer at a flat 1.5% fees (Capped at a maximum fee of $15 per transaction). This still turns out to be lower than what Cash App charges, especially if you want to transfer a high amount.
So it makes sense to transfer money first from Cash App to Apple Cash and then from Apple Pay, do an instant transfer to your bank account.
It does require jumping through a few hoops, but can save you some money especially if the transfer amount is big.
You can also withdraw cash out from your Cash App account by using the cash back option at retail store like Walmart when doing self check out at POS .
Cash App Instant Deposit vs Standard Deposit
Cash App allows you to cash out or transfer money from your Cash App balance to your linked bank account or bank account.
Transfer can happen by any of the two ways
- Standard Deposit- Transfer to your linked bank account (connected via Plaid or manually via routing number and account number) in 1-3 Business days, There are no fees for standard transfer
- Instant Deposit- Transfer to a linked debit card within minutes. Involves an instant deposit fee that is deducted from the transfer amount.
There are also few debit cards that do not support instant deposit.
Cash App Instant Deposit Not Showing Up Issue
Sometimes you may face an issue where you place an instant deposit and the money is not credited to your bank account even after few hours.
This is usually a case where the instant deposit has ndoot gone through either due to technical reasons with Cash App or an issue with your bank debit card (e.g. it may not be supporting instant transfer)
In such a case, the money is usually transferred by way of standard deposit and any fees charged to you is reversed back to your Cash App balance.
And you don’t get any option to hold or cancel such a deposit, once you have initiated it.
While there is no direct option to turn off the instant deposit on Cash App, you still have a remedy to avoid the possibility of instant deposit and the fees involved. You just have to remove your debit card linked in Cash App. Hope this post helped resolve your issue, share it with your friends facing the same problem.