Do you know that Cash App Direct Deposit now supports direct deposits for paychecks? It is a good thing that leads to a Cash App to go one step closer to becoming a fully functional bank account without actually being a bank account. We all know that Cash App has always been first in the race of improving the user experience, providing security, features, and smooth experiences. Now, if you’re willing to make direct deposits for paychecks, then all you need to do is give the employer the account and routing number (found in Cash App Settings), and direct deposit will notify the employer the moment the deposit hits their account. The best part about making direct deposits is that all the funds sent through the above-mentioned method are directly added to their cash balance and can be used via debit card or can be transferred to another account.
If you do not see the direct deposit options for a paycheck on your Cash App, then you need to update the version of your Cash App.
This is a big achievement not only for the Cash App but also for the whole financial service sector. It’s now entirely possible to rely on the app instead of a conventional bank account, which is beneficial for younger users starting their first job, those in underserved areas, or those unable to pay fees at more mainstream banks, as long as you don’t need to deposit a check or wire payment.
What Is Cash App Direct Deposit?
Direct Deposit is not just a term for Cash App; it is a global term used to represent a process of transferring the funds through an electronic medium. In other words, there are no paper checks involved in sending funds to someone; it is sent electronically. You will need the account number and the routing number to initiate the direct deposit. And it takes around 1 to 5 business days to process the funds.
How To Enable Cash App Direct Deposit?
You can enable the direct deposit on Cash App only if you have a verified Cash App Account. And if you’re new to Cash App, then you will need to first complete the profile and then go to the profile section to verify the account. And for the verification, you should have the last four digits of your Social Security Number. Now, I’m assuming your account is verified, so to enable the direct deposit, you need to open Cash App, then click on the Banking Tab, after that a new page will open, there you need to click on the Direct Deposit, once you click, the option will be enabled.
How To Setup Cash App Direct Deposit?
If you’re looking for the process to set up the Cash App Direct Deposit, then you need to follow the steps given below:
Open Cash App on your mobile device.
On the homepage, click on the Banking Tab.
Next, click on the Direct Deposit option.