Cash for Business pricing was created with small business owners in mind. Cash for Business accounts are free to create and require no hardware to process business payments.
Cash App will automatically deduct a 2.75% processing fee on each payment you receive to your Cash for Business account. When you receive a payment from a customer on your Cash for Business account, the amount you receive in your balance will not include the deducted fees.
You can view the processing fees associated with the transaction in your Activity tab:
- Tap the Activity tab in the bottom right corner of your Cash App home screen
- Scroll down to see your payment history
- Tap a payment for specific payment details
Unlike personal accounts, Cash for Business accounts do not pay Instant Deposit fees. This means that you can transfer your funds instantly to your debit card without any additional cost.
Cash for Business customers can hold their received funds in their Cash App balance to make business purchases with their Cash Card or transfer to linked bank accounts.
For information on how the IRS requires Cash App to report your business income, see Tax Reporting with Cash For Business.