The cash app is a name for providing convenient payment service all round. After introducing multiple payment services now cash app introduced their new feature cash app direct deposit. The Direct deposit gives freedom to employees to receive their paycheck directly into their bank accounts and avail freedom to the employer from the paperwork required to keep track of paychecks and dealing with banks. So it’s a win-win situation for both. With cash app direct deposit feature employees don’t need to go to the bank to encash their paychecks, they get a notification when paycheck hits their account. It saves a lot of precious time. Direct deposit takes 3-5 business days to get credited in the account, once paycheck gets processed by the employer. Follow below-given instructions to set up a direct deposit in your Cash app account.
How To Enable Cash App Direct Deposit
For enabling a cash app direct deposit you have to know your routing number. To know your routing number and set up a direct deposit in your cash app account follow these steps.
Step 1.Tap on the profile tab on your cash app home screen.
Step 2. Find the “fund’ option from the pop-up and tap it.
Step 3. On the new page find a direct deposit option, here you can find a routing number to share with your employer and linked bank account number.
Step 4. Now press the “Get account” option.
Step 5. Now click on the link appeared to read terms and conditions.
Step 6. Now follow simple steps as given to set up your cash app direct deposit.
Benefits Of Cash App Direct Deposit Feature
Here we have listed why you should enable a cash app direct deposit in your cash app account and what are the benefits of direct deposit.
- Direct deposit is faster than regular paycheck processing.
- With direct deposit, employers get rid of presenting the paycheck to the banks.
- It reduces paper works for the employer and increases efficiency.
- Easy to track and for record maintenance.
- It’s safe and 100% free.
- Employees can transfer their cash app funds to the bank or withdraw from ATM using a cash card.
- Cash app balance can be used for investment in Bitcoin and stock market.
Using a cash app direct deposit is beneficial for employees and employers both. Cash app balance can be used in multiple ways. So there is no problem for employees to have their salaries in cash app account. Employees get notifications, once they have salaries credited in their accounts.