The advent of technology has led to the introduction of various Peer-to-Peer (P2P) money transfer platforms. This has, in turn, made sending and receiving money online the order of the day. You want to Go Dutch and share your dinner bills? No problem, it’s very possible thanks to payment platforms such as Cash App. But is it possible to send and receive money through Cash App without limits?
Like most people, you’ve probably used Cash App and realized that this platform has limits when it comes to sending and receiving money. Similar to other P2P platforms, Cash App pretty much does the same thing: it puts limits on the amount of money you can send or receive.
You should know the limits as stipulated by Cash App. This is essential in enhancing your transactions. That being said, let’s shed more light on Cash App limits.
Using Cash App
Whether you want to send a dinner payback, send a small loan to a friend or send an instant birthday gift, sending and receiving money through Cash App is as easy as A, B, C. Available online and through its mobile phone app, using Cash App is very much convenient. Other than the limits, using Cash App makes life much easier as you don’t have to carry cash around.
Cash App allows you to send up to $250 within any 7-day period. The platform allows you to increase this limit, but you’ll have to verify your identity.
You can increase your Cash App sending limit by verifying your identity. The platform requires you to provide your personal information, including your full name, date of birth, and the last four digits of your Social Security Number. Additionally, the platform may ask you to provide more information if it’s unable to verify your identity.
The essence of verifying your identity is to increase your limits, but it is also crucial in enhancing the security of your account. In other words, a verified account is more secure and allows you to increase both your sending and receiving limits.
If you’ve successfully verified your account, your sending limits will increase to $2,500 within any 7-day period. Although this figure is a little lower when compared to other platforms such as Venmo and PayPal, it is a great improvement, which essentially highlights the importance of verifying your Cash App Account.
When it comes to Cash App receiving limits, the platform allows you to receive up to $1000 within any 30-day period. This is if the account is not yet verified. As you can see, the receiving limit is much higher than the sending limit.
Unfortunately, the platform doesn’t clearly stipulate the receiving limits on a verified account. However, we can confirm that the receiving limit stands at $2,500. This is a no-brainer given that $2,500 is the sending limit and so the receiver can also receive the same amount.
Cash App is one of the P2P platforms that enhance how we live our lives and pay small bills in the 21st century. Whether you want to send some pocket money to your sister in college or payback for the dinner that your friend bought you, Cash App makes it a lot easier.
As good as it sounds, this platform has limits when it comes to the amount of money you can send and receive. Generally, the platform allows you to send $250 in a span of one week if your account is unverified while the amount you can receive is limited to $1,000 within a period of one month. To increase these limits, you’ll have to verify your identity, after which you can send and receive up to $2,500 within a period of one week.