In this article, you will learn how to change Cash App from personal to business account. Many users have trouble changing the cash app account from business to personal. If you have any of these issues, you don’t need to worry because I will explain a simple method to change account type on Cash App. Changing your Cash App account from business to personal is very straightforward. Navigate the profile page on the Cash App home screen, tab Personal, and Change the Account Type.
What is the business account on Cash App?
When a user decides to change the Cash App account type, there must be a reason. This is a very pertinent question why do people change their Cash App account from business to personal. Well, it is because there are differences in the business and personal account. So let’s make a Cash App Business and Personal Account Comparison:
The daily, weekly, monthly limit on the Cash App sending or receiving money is higher on a business account than on a personal account.
On a business Cash App account, a 2.75% fee is charged. Also, if you send money from your Cash App business account linked to a bank account, there is an instant deposit fee of 1.5% maximum or 0.25 minimum. Moreover, if you use a payment using a credit, then a 3% fee is applicable.
You can customize an additional icon on your user's name as a small designation that looks like a building to identify you using a business account.
Another difference between Cash App Personal and Business account is that Cash App will issue some 1099 form by IRS used to report income received through sources other than employment.
How do I change my Cash App to a personal account?
If you have also decided to change your Cash App account from a personal to a business account, you must take only certain simple steps. Moreover, if you are new, you can create an account in Cash App; you can choose between a Personal account and a business account. So changing the account type on Cash App follow these steps:
1. Open the Cash App on your phone
2. Click on the Profile button from the home screen
3. Select the personal tab
4. Scroll down and click on the Change Account Type from Personal to Business.
5. At last, confirm this by your PIN or touch ID.