How to change Cash App from Business to personal is perhaps one of the most asked questions by the business holders, traders, and merchants. Cash App is one of the most trusted online payment platforms in the US because of the ease, safety, and security it gives to the people. Cash App has replaced traditional banks because of its online accessibility and fast services.

It is trusted by business holders, merchants, and retailers for its time-savvy features and great financial tools. For the people who do not know this, Cash App has two account types – personal and business. Business Cash App account is for business owners who want to have more professional tools which can be helpful for their business. Also, it helps them to distinguish between both accounts. Now let us understand the difference between Cash App Personal and a Cash App for Business account.

What is the difference between a Cash App Personal and Cash App Business account?

Cash App personal and business have almost the same feature except for a few things there is not much of a difference between the accounts. Both of the accounts are free to download and install. Both of the Cash App accounts have a similar setup, transaction, Cash Card, and Cash App direct deposit. You can purchase and sell bitcoin and invest in Us stocks with both of the accounts. The differentiating point is that Cash App business account holders receive 1099-k and 1099-B forms to report the taxes to the US government.

How to change a Cash App account from a Business to Personal account?

You can change your Cash App account from business to personal anytime you want. The best thing is Cash App does not charge any fee, enabling and disabling an account is free of cost in Cash App. If you too wish to change into a personal account then follow the steps given below:

Open the Cash App on your device.
Go to your profile from the top right of the homepage.
Click on the drop-down menu on the screen and select Personal.
Tap Change account type.
Complete the security check by scanning your finger impression or by entering the PIN.
Your Cash App account will change into personal from the Cash App for business account immediately.
Why should you consider changing Cash App Business to Cash App Personal?
If you are a small-sized or medium-sized business owner then it can be painful to pay a 2.5% commission per transaction when you do not get many transfers. Cash App like its competitors charges fees but it is comparatively nominal. Whereas if we talk about the personal account, accepting payments and money transactions are free. If you do not want to pay any extra charges then you can switch back to your cash app account by following the steps given in the above section.

What is the Difference between the Limit of Cash App Personal Account and Cash App Business account?

There is no set limit for the business accounts on Cash App. Business accounts have no limit for transactions but the Cash App personal account users have a limit of $1000 of sending and receiving in 30 days which you may feel is quite less but here’s the trick you can easily increase your account limit by verifying your Cash App account.

To verify your Cash App account you need to provide your complete details like name, date of birth, and last four digits of your SSN, government-approved ID, and your clear picture. Once you complete the verification process you will become a verified Cash App user and your Cash App account limit will increase up to $75,000.

Conclusion

Cash App business accounts and personal accounts do not have any large difference between them so if you are a small and medium-sized business owner, you can change your Cash App accounts from business to personal in a few steps. Although a Business account for Cash App can systematically help you, it is for your business and it has no limit but of course, you can increase your account limit of personal Cash App by verifying your account. If you want to save money and do not have a large-scale business then paying 2.5% per transaction is a waste. In case you face any trouble switching your account you can contact Cash App Customer Service.