Cash App has become a go-to option for many when it comes to peer-to-peer transactions, investing in stocks, and even buying Bitcoin.
But did you know that this Cash App also has a feature that allows you to deposit paper money into your account?
If you’re scratching your head, wondering how to access this feature, you’ve landed at the right place. Let’s explore how to get the paper money option on the Cash App.
What Is The Paper Money Option On Cash App?
Cash App’s Paper Money Feature allows users to deposit paper money into their Cash App account. Yep, you heard it right. So, if you are thinking of depositing your physical cash, Cash App has got your back.
Why doesn’t my cash app have the paper money option?
If you are thinking, Why don’t I have the paper money option on Cash App? Well, there are a few potential reasons:
- Verification: Cash App requires account verification. If your account is not verified yet, you will not have access to the paper money feature.
- Update Your App: Cash App rolls out new features gradually through app updates. Make sure you have downloaded the latest version of the app.
- Feature Rolling Out: Even if your app is updated, Cash App activates features on a rolling basis. So it simply may not have reached your account yet.
- Location: Cash App partners with retail locations to accept cash deposits. However, these partnerships are still expanding across the country. If there aren’t any partnered locations near you yet, you won’t have access.
- Debit Card/Bank Account: If you haven’t linked your debit card or bank account to your Cash App yet, that might be another reason why you don’t have the access to paper money option.
How To Get The Paper Money Option On Cash App
If your app is updated but still there is no Paper Money option available on your Cash App, here are some tips to get it added to your account:
1. Contact Cash App Support
The best way to request Paper Money access is to contact Cash App Support directly and ask them to enable it for your account.
Here’s how to reach out to them:
- On your Cash App, click on the profile icon located in the top right corner.
- Scroll down and click on “something else”, then select cash card.
- Once you’re there, click on “contact support” and then tap on the chat icon.
- Here, you’ll have the option to start a chat. Briefly explain your situation to the representative, and they should be able to guide you further.
Explain your situation and request they add Paper Money access. Be sure to tell them your location since access varies.
2. Check Again Frequently
Even if support couldn’t help, keep checking your Cash App regularly by tapping “Banking” and looking for the Paper Money option.
3. Update Your Location
One other thing you can try is temporarily updating your location in the app to a nearby major city.
Close the Cash App completely, change your phone’s location services to a city where Paper Money is available, and then reopen the app.
Now, check if Paper Money shows up. You can switch back after.
4. Wait For Expanded Access
If all else fails, you’ll just have to wait until Cash App finishes rolling out Paper Money to your area. Keep the app updated and keep checking back. With Paper Money being such a popular feature, wider availability shouldn’t be too far off. Just be patient.
How To Deposit Paper Money Into Cash App
1. Open the Cash App
Once you’ve launched the app, tap on that little section, often showing your balance.
2. Finding the ‘Paper Money’ Option
Go to the banking tab, there will be a paper money feature. Click on it.
3. Locate Your Nearest Deposit Location
Upon selection, a map displaying all nearby deposit locations will appear. From here, you can choose your nearby store.
4. Generate Your Barcode
Before you hand over your cash to the cashier, ensure that you click on the ‘show barcode’ option in the app.
5. Hand Over Cash and Complete the Transaction
Once your barcode is scanned, hand over your paper money to the cashier. After a tiny $1 transaction fee, your money will be reflected in your Cash App balance in a matter of minutes.
Paper Money Deposit Limits and Fees
Transaction Limits
While the Paper Money option is incredibly handy, it does come with some fees and limits. For instance:
- The deposit range per transaction is between $5 to $500.
- Users can deposit up to $1,000 every seven days.
- Monthly, the deposit limit is capped at $4,000.
Fees and Notifications
Each transaction made using the Paper Money feature incurs a $1 fee. Moreover, after your cash has been added to your account, a notification pops up almost instantly. So, if you deposit $100, expect to see $99 in your Cash App account.
Locations Where You Can Deposit Paper Money
Once you gain access to the paper money feature, you’ll probably wonder, where exactly can I go to deposit paper money on Cash App?
Cash App has partnerships with the following major retail chains:
- 7-Eleven
- GoMart
- Kum & Go
- Walgreens
- Walmart
- Speedway
- GoMart
- Thorntons
- KwikTrip
- Dollar General
- Family Dollar
So any location of those stores in your area will likely accept Cash App paper money deposits.
You can use the map in the Cash App to find nearby participating locations. It will pinpoint the stores closest to you.
How Can I Withdraw Paper Money From Cash App?
Cash App only lets you deposit physical cash, not withdraw it like you would at an ATM.
The paper money feature solely exists to add funds, not withdraw them. If you need to withdraw cash from your Cash App balance, you have a few options:
- Withdraw at an ATM using your Cash Card.
- Transfer it back to your linked bank account.
- Cash-out at stores that offer Cash Card purchases.
- Spend it directly through your Cash Card.
So while the paper money option is for deposit-only, you still have ways to get physical cash when needed.
Pros and Cons of the Cash App Paper Money Feature
Now that you know how to get the paper money option, you may be wondering if it’s worth the trouble. Let’s explore the pros and cons:
| Pros | Cons |
|---|---|
| You can add cash without having to visit an ATM or bank. | The feature is only available at limited retail chains, not all stores. |
| Deposited cash shows up in your account instantly. | You can only add cash, not take it out like at an ATM. |
| No need to carry large amounts of cash around. | Cash App charges a $1 processing fee on each paper money deposit. |
Tips For Depositing Your Paper Money Into Cash App
Once you finally have Paper Money enabled in your Cash App, here are some quick tips for depositing cash:
- Tap Paper Money to find nearby participating retailers
- Wait until you are inside the store, then tap “Show Barcode“
- The barcode will expire after a short time, so don’t open it too soon
- Hand the cash and barcode to the cashier when it’s your turn
- There is a small fee, usually around 1% per deposit
- You’ll get a notification when the cash is added to your account
Conclusion
Getting the paper money deposit option on the Cash App provides a convenient way to add physical cash to your account without fees or ATM visits.
As the feature reaches more users nationwide, being able to add paper money will make Cash App more versatile than ever for managing your funds.
Have you gotten the paper money feature yet? What are your thoughts on Cash App adding this option? Let me know in the comments.
Reference: https://cash.app/help/us/en-us/6488-paper-money-deposits
