Cash App is a popularly known P2P money transfer app that allows you as its user to transfer and receive money to and from friends in the United States and the United Kingdom.
But in order to work properly, Cash App requires a bank account and prepaid cards are not dependent of bank accounts and so this makes the transfer of money from a prepaid Card to Cash App very challenging.
A prepaid card is a type of payment card that is not linked to any bank account and can be used to purchase goods and services both online and offline as well as withdraw money from an ATM.
Virtual prepaid cards are good for online shopping since they offer the convenience when you shop online as well as reducing the risk of your card details to get stolen because thieves have several ways to get money out of a stolen card.
Once you open a Cash App account, you are going to be asked to link a bank account or debit card in order to be able to send and receive money. The bank account that you will link to Cash App will be used as funding source for your Cash App transactions and also ease the withdrawal of money from Cash app to Bank Account.
You can link a bank account or debit card to Cash App but not a prepaid card and this makes it somehow in impossible to directly transfer money from a prepaid card to Cash App. It is not possible via the direct method but you can make use of indirect method to transfer money from prepaid Card to Cash App.
So stay glued to this article as I will show you how to transfer money from Prepaid card to Cash App in a few taps.
Table of Contents
What is a Prepaid Card?
Prepaid Cards in simple terms are payment apps that you can recharge and use for a variety of transactions and even though they are not often connect to bank accounts, the cards still function like debit cards.
When you are applying for a prepaid card, you have to provide information that matches that required by the bank. Once you have one, you can use it for many transactions.
You are able to obtain prepaid cards online and in physical locations from the various companies that provide them.
Providing your details and uploading the required documentation is a crucial step when you are submitting your online application. Applying online better cause you will not have to stand on a queue for long and in order to apply, all you need is a laptop or smart phone with internet access.
Every financial institution is required by federal government regulations to collect different information from customers opening accounts.
A social security number, a form of identity, such as a passport, a state identification card, an email address, and a phone number are required.
To add money to your prepaid card account, you might also need a bank account.
How to Get a Prepaid Card
In order to get a prepaid card, you must submit an application to the applicable issuer for a prepaid card and it is necessary to have a minimal deposit amount since the cards requires you deposit money before using it.
Once you have made your deposit, you will then get your card and be able to begin making use of it. Incase you submit an online application, a courier will deliver the card to your address but you must first of all activate it to begin using it when you receive it.
What is Cash App?
Cash App in simple terms can be said to be a peer-to-peer payment app that allows users to transfer, receive and invest money quickly. Block, Inc. formerly known as Square, Inc launched the app in the year 2013 to compete with other mobile payments apps such as Venmo and PayPal.
Even though Cash App allows you to keep your money safe while also making some transactions with other financial institutions, it is not a bank. The Federal Deposit Insurance Corporation -FDIC insures your account balance via partner banks.
With Cash App, Users are able to get a debit card, and set up direct deposit using the Cash App. Also as a Cash App user, you are able to invest as little as $1 in equities using the investing tool and this is accomplished by purchasing fractional shares of stock. Cash App users are also able to buy, sell and transfer bitcoin easily.
How Does Cash App Work?
The Cash App mobile app must first be downloaded. It is accessible for iOS (4.7 stars out of 5) and Android (4.6 stars out of 5). Online registration for a validated Cash App account is also possible. Among other things, the app has areas for banking, debit cards, payments, investments, and Bitcoin.
Funds are kept in your Cash App balance when you receive payments and you have the option of eaither leaving it there or moving it to your associated bank account.
You can choose a no-fee regular transfer, which normally takes one to three business days to complete, or a quick transfer, which costs 0.5 percent to 1.75 percent of the transfer amount, with a minimum fee of $0.25.
When you want to add money Cash App, you have to go to the banking section of the app and select "Add Cash" and then tap "Add" when you have chosen the desired amount.
Send and Receive Money
After making an account, you'll add an existing bank account to your Cash App account. Once a payment source is connected, you can use the mobile app to send or receive money.
By inputting a dollar amount in the green payment tab and selecting "Request" or "Pay," users can create payments.
Can You Transfer Money from Prepaid Card to Cash App?
Cash App states that it accepts several prepaid cards in addition to debit and credit cards from Visa, MasterCard, American Express, and Discover.
Despite the fact that Cash App accepts the majority of prepaid cards, you cannot transfer money straight from a prepaid card to Cash App.
However, you can link your prepaid card to your account and even send money using it if Cash App supports it.
You must carry out the transfer using an indirect method if you wish to move money from a prepaid card to Cash App. The procedure is described in detail below.
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How to Transfer Money from Prepaid Card to Cash App
As previously said in this article, transferring money from a prepaid card is not directly possible so in order to transfer money from prepaid card to Cash App, you will have to rely on indirect methods such as making use of a bank account as mediator for the transaction.
Below are the steps involved in transferring money from a prepaid card to Cash App:
1. Transfer Money from the Prepaid Card to Bank Account
Transferring money from a prepaid card to a bank account is not a complicated process especially if your prepaid card provider offers an online platform where you can manage your card online.
Well all you will have to do is to move to the money transfer section and transfer the funds to a bank account.
It is necessary you keep at the back of your mind that you may need you bank account and routing number in order to complete the transaction.
2. Link Your Bank Account to Cash App
Here comes a vital step to take when it comes to adding money to cash App.
Follow the steps below to link a bank account to Cash App:
- Open Cash App on your phone.
- Tap the Profile Icon on your Cash App home screen.
- Select Linked Banks.
- Tap Link Bank.
- Follow the prompts.
3. Add Money to Cash App From your Bank Account
As soon as you have linked your bank account to Cash App, the last thing that you will have to do is to add money to your Cash App from your bank account.
Follow the steps below to add money to Cash App from your Bank Account:
- Tap the Banking/Money tab on your Cash App home screen.
- Press Add Cash.
- Choose an amount.
- Tap Add.
- Use Touch ID or enter your PIN to confirm.
So now that you have successfully done these 3 steps, your funds will be transferred from Prepaid card to Cash App.
Final Thoughts On How to Transfer Money from Prepaid Cards to Cash App
A prepaid card refers to a payment card that allows you to recharge with a certain amount of money. The cards operate like debit cards, although they do not necessarily link to bank accounts. You can apply for a prepaid card online or at a physical branch.
Once you get the card, you can shop at various places and withdraw money at ATM points. Prepaid cards cannot work with Cash App since the platform does not support them.
Frequently Asked Questions
Why are prepaid cards not accepted by Cash App?
You can only send money to others who have a government-issued prepaid card; you can’t put money on your card using Cash App. Moreover, prepaid cards purchased in-store or online will not operate with Cash App only those work that are delivered to you by the government.
Why is my Cash App transfer failing?
Your cash app transfer failed for another reason, which is insufficient funds. As a result, your cash app transfer will not be funded if you use a bank that doesn't have enough funds in the account to cover it. Therefore, be sure there are sufficient funds in the bank account you're using for the Cash App.
Can I use Cash App even if I don’t have a bank account?
Yes, Cashapp can be used without a bank account. You will be regarded an unverified user if you use a Cash App without a bank account. Furthermore, as unverified users, you are only entitled for $1000 per month.