How to Cancel Cash App in 2026 (Close Account + Withdraw All Money)

Updated 2026-02-20 · 7 min read

Cash App's Hidden Fees

• Sending money: Free from bank/debit, but 3% fee from credit card
• Instant transfer: 0.5-1.75% fee (min $0.25) vs free 1-3 day standard transfer
• Bitcoin: 1.76% spread on buy/sell + potential network fees — Coinbase/Kraken have lower spreads
• Stock trading: No commission, but order execution quality is worse than Fidelity/Schwab
• Cash App Pay (Afterpay): BNPL built in — creates installment debt on purchases
• ATM fees: Cash App Card ATM withdrawals: $2.50 out-of-network fee (waived with $300+/month direct deposit)
• Cash App Taxes: Free filing, but they get your financial data for targeted marketing

Before You Close: Withdraw Everything

Step 1: Cash Balance

1. Open Cash App → tap the Money tab ($ icon)
2. Tap Cash Out
3. Enter your full balance amount
4. Choose Standard (free, 1-3 days) — don't pay the instant transfer fee on your way out
5. Wait for the transfer to complete before proceeding

Step 2: Bitcoin (If You Have Any)

1. Tap the Bitcoin tab (₿ icon)
2. Option A: Sell → convert to cash → cash out (see above)
3. Option B: Withdraw → send to an external wallet (if you want to keep it)
4. Be aware of the Bitcoin network fee for external withdrawals
5. You CANNOT close your account with a Bitcoin balance

Step 3: Stocks (If You Have Any)

1. Tap the Investing tab (chart icon)
2. Sell all stock positions
3. Wait for settlement (1-2 business days)
4. Cash out the proceeds
5. Tax note: Selling stocks triggers capital gains/losses — keep records for tax filing

Step 4: Pay Off Afterpay/BNPL

1. If you've used Cash App Pay (powered by Afterpay), check for active installment plans
2. Go to Activity → filter for Afterpay payments
3. Pay off all remaining installments before closing

How to Close Your Cash App Account

1. Ensure all balances are $0 (cash, Bitcoin, stocks)
2. Open Cash App → tap your profile icon (top right)
3. Scroll down → Support
4. Tap Something Else → Account Settings → Close My Cash App Account
5. Follow the confirmation prompts
6. Your $cashtag is released and your account is permanently closed

Cancel the Cash App Card

• If you have a Cash App Card (debit card), it's automatically deactivated when you close your account
• Cut up and dispose of the physical card
• Remove from Apple Pay/Google Pay: Settings → Wallet → Cash App Card → Remove
• Remove from any online stores where it's saved as a payment method

Cash App Security Concerns

• Scam target #1: Cash App is the most-scammed P2P platform — no buyer/seller protection on person-to-person payments
• 2022 data breach: Block (parent company) disclosed that a former employee accessed Cash App Investing data for 8.2 million customers
• No FDIC insurance (standard): Cash App balances aren't FDIC-insured unless you set up direct deposit (then up to $250K via partner banks)
• Fraud recovery: Unlike banks and credit cards, Cash App transactions are essentially instant and irreversible — if you send money to the wrong person or a scammer, it's gone

Better Alternatives

• For P2P payments: Zelle (built into most bank apps, instant, free, FDIC-insured)
• For a bank account: Your actual bank or a high-yield savings (4-5% APY vs Cash App's 1.5%)
• For Bitcoin: Coinbase, Kraken, or River — lower spreads and better security
• For stock trading: Fidelity or Schwab — better execution, more features, established SIPC protection
• For debit card rewards: SoFi (2% cashback on everything) or your bank's debit card