In 2013, the Cash App was launched, and today over 36 million people use this app regularly.
The purpose of the app is to provide a way for people to send and receive money easily. Businesses can use it, and people can use it for personal use.
One question many people have about it is, "How old do you have to be to use Cash App?" If you have teenagers interested in the Cash App, you might want to learn more about the answer to this question.
Here is a guide to help you learn more about the Cash App and the age requirements for getting an account.
How Cash App Works
Before you learn the Cash App minimum age, you might wonder how this app even works. For starters, you must apply for Cash App. The process isn't difficult, and you can do it all online.
To apply, you'll need to download the Cash App. Next, you'll need to answer some questions. After that, you'll find out if they approved your application.
If so, you'll need to link a bank account to your new Cash App account. You'll also have to choose a user name and password.
When you link an account to the Cash App, this bank account will be the place where you fund your account or transfer your funds to when you receive money.
If you'd like to use the Cash App for paying for things, you can even request a debit card for your account.
When you get the debit card, you can use it at any place that accepts debit cards. When you make a transaction, the money you spend with the debit card comes straight out of your Cash App account.
As you can see, learning how to get Cash App is simple, and it offers many benefits. In fact, having the Cash App is like having another bank account, which is something you might need.
The Features of the Cash App
The Cash App is a highly useful app to have for many reasons, but you might want to learn a little more about the features it offers. Here are some of the top things to know:
It Has Transaction Limits
The first thing to understand is that the Cash App has some limits on transactions. While they might lift the limits or raise them periodically, your account begins with them in place.
These limits restrict how much money you can transfer in and out of the account, as well as how much cash you can get from an ATM if using your debit card to retrieve cash.
You Can Use It for Direct Deposits
The next feature to know about is the ability to use your account for direct deposits. If your employer offers direct deposits, talk to them about hooking up your Cash App for these.
There Are No Fees
The Cash App doesn't charge fees for transactions. In fact, you will not pay any fees when using this app. The app is completely free.
The Money Transfers Instantly
The other top feature to know about is instant transfers. If you transfer money from your Cash App account to someone else's, they receive the money instantly.
If someone sends you money through your Cash App, you'll receive the money instantly. There is no delay in the transfers, which is nice to know.
How Old Do You Have to Be to Use Cash App?
Now, you might wonder about the Cash App age requirements. Can you get the Cash App under 18? Until recent times, you had to be 18 to get it, but this is no longer the case.
Teenagers between the ages of 13 to 17 can now apply for their own Cash App accounts. For the Cash App to approve these requests, the teens must have parental consent.
If you have a teen, between these ages, that wants to use the Cash App, you'll need to approve it. They might ask for your user name or other personal details about yourself.
If you decide that you want your teen to have this app, you can agree to the terms, and your teen can start using the app right after they complete the account setup process.
One vital thing to understand about teens opening accounts is that they are technically considered an authorized user. The parent actually is the account holder, so the parent holds the liability related to the account.
You'll need to make sure you trust your teen before signing onto an account with them. You also might need to help your teen learn how to use the account before they have access to it.
The Benefits of Teens Using Cash App
Many parents encourage their teens to get bank accounts for several reasons. The downside to regular bank accounts is that many banks have age limits for opening accounts and getting debit cards.
The first benefit that teens can experience from getting the Cash App is that they can learn how to budget money. If they have a job, they can deposit their paychecks in the account.
They can use the account to pay their bills or fill up their gas tanks. As they use the account, they can learn more about money-management skills.
Secondly, parents often like their teens having access to money if they encounter emergencies.
For example, if your teen's car is almost out of gas, you won't have to worry about them getting stranded. They can go to any gas station and use their Cash App debit card to fill up.
Get the Cash App Today to Send and Receive Money
If you're looking for a simple way to transfer money back and forth, the Cash App might be the solution. If you're an adult you can create an account.
If you have kids, you should now know the answer to, "how old do you have to be to use Cash App?" If your kids are old enough, you can help them open an account, too.