What is the spending limit on Cash App card?
The Cash App card, a popular payment card associated with the Cash App by Square, offers users the convenience of making purchases both online and in physical stores. However, one important aspect that users often inquire about is the spending limit on their Cash App card. Understanding this limit is crucial for managing finances effectively and avoiding any unexpected issues when making transactions.
Understanding the Spending Limit on Cash App Card
The spending limit on a Cash App card is the maximum amount that can be spent using the card within a specific time frame. This limit is set by Square, the company behind Cash App, and can vary depending on several factors. Here are some key points to consider regarding the spending limit on Cash App card:
1. Verification Level: The spending limit on your Cash App card is directly influenced by your account verification level. There are three levels of verification: unverified, verified, and verified plus.
– Unverified: Users with an unverified account have a lower spending limit, typically ranging from $250 to $1,000 per month. This limit can be increased by verifying your identity and providing additional information to Cash App.
– Verified: Once you verify your identity, your spending limit can be increased to $2,500 per month. This level requires you to provide personal information such as your full name, date of birth, and Social Security number.
– Verified Plus: The highest level of verification, Verified Plus, allows users to have a spending limit of up to $25,000 per month. This level requires additional verification steps, including providing a photo of your government-issued ID and proof of address.
2. Temporary Limits: In certain cases, Cash App may place a temporary spending limit on your card. This can occur if there is suspicious activity detected or if you have recently changed your personal information. Temporary limits can vary, but they are usually lifted after a certain period of time or once the issue is resolved.
3. Withdrawal Limit: It’s important to note that the spending limit on your Cash App card is separate from the withdrawal limit. The withdrawal limit refers to the maximum amount you can withdraw from ATMs or cashiers using your Cash App card. This limit is typically lower than the spending limit and can also be increased by verifying your identity.
4. Limits for Debit Card Transactions: The spending limit on your Cash App card also applies to transactions made using the card as a debit card. This includes purchases made in physical stores, online shopping, and other forms of payment where the card is swiped or inserted.
In conclusion, the spending limit on Cash App card is determined by your account verification level and can vary from $250 to $25,000 per month. Understanding and managing this limit is essential for maintaining financial control and ensuring a smooth payment experience.
