You can set up a Cash App business account directly inside the app you already use, and it takes just a few minutes. The business account runs alongside your personal account, so you don’t need to create a new login or download a separate app. Here’s how to get started and what to expect once you’re up and running.
How to Create Your Business Account
Open Cash App and tap the profile icon in the top-right corner of your home screen. Scroll to the bottom of the page and select “Create a business account.” The app will walk you through a series of prompts to verify your business, including your business name, type, and basic details like your EIN (employer identification number) or Social Security number if you’re a sole proprietor.
Once verified, your business account lives within the same app as your personal account. You can switch between the two by tapping your profile icon and selecting the account you want to use. Payments you accept through the business account stay separate from your personal balance, which makes bookkeeping much simpler.
What It Costs to Accept Payments
Cash App charges a processing fee every time a customer pays your business account. The standard rate is 2.6% plus $0.15 per transaction. So if a customer sends you $100, you’ll receive $97.25 after the fee is deducted. If you accept payments using Tap to Pay on your phone, the fee is slightly higher at 3% per transaction.
There’s no monthly subscription or setup fee. You only pay when money comes in. Transferring your balance to a linked bank account is free if you use the standard deposit speed, which typically takes one to three business days. Instant deposits carry an additional fee, so if cash flow timing isn’t urgent, the standard option saves you money.
Accepting Payments From Customers
A business account gives you several ways to collect money. The simplest is your $cashtag, the unique username tied to your account. Customers who have Cash App can send payments directly to it.
You can also generate shareable payment links. These are created through the payment tab by going through the normal request flow and choosing the “share link” option instead of adding a specific recipient. The app produces a unique URL you can text, email, post on social media, or embed in a message. When a customer taps the link, Cash App opens with the amount and note pre-filled so they can pay in seconds. These links are reusable, which makes them useful for recurring charges or situations where you want to collect the same amount from multiple people.
Cash App also generates a QR code for your business account. You can print it and display it at a counter, on a menu, or at an event so customers can scan and pay without typing anything. For in-person transactions, Tap to Pay lets you accept contactless payments directly from your phone.
Account Limits After Verification
Verified accounts can send up to $40,000 on a rolling 30-day basis. Receive limits are set on an individual account basis, and you can check yours by going to the “Limits” tab under your account settings. If your business grows and you start hitting those caps, the limits section will show you exactly where you stand and when they reset.
Verification is what unlocks higher limits, so completing the identity verification step early is worth doing even if your volume is low at first. Unverified accounts face much tighter restrictions on both sending and receiving.
Tax Reporting for Business Accounts
Cash App is required to report your business income to the IRS using Form 1099-K when your total payments for goods and services exceed $20,000 and you have more than 200 transactions in a calendar year. Cash App may also send you a 1099-K even if you fall below those thresholds.
The 1099-K reports gross payment volume, not your profit. That means it reflects every dollar customers sent you before fees and before you subtract your expenses. You’ll report this income on your tax return and deduct eligible business expenses separately. Keep your own records of costs, refunds, and fees throughout the year so the numbers on your return match what the IRS receives.
Tips for Running Your Account Smoothly
Keep your business and personal transactions separate by always switching to your business profile before accepting a payment. Mixing the two creates headaches at tax time and makes it harder to track revenue. If a customer accidentally sends money to your personal account, you can refund it and ask them to resend to the business account.
Link a dedicated business bank account rather than your personal checking account. This gives you a cleaner paper trail and makes it easier to reconcile deposits. Set a regular schedule for transferring your Cash App balance to that bank account, whether daily or weekly, so funds don’t sit idle in the app longer than necessary.
Finally, save your payment links for the products or services you sell most often. Since they’re reusable, you can keep a running list of links for different price points and share the right one instantly when a customer is ready to pay.