What does Green Building on Cash App mean?
I recently downloaded Cash App because it seems to be a fan favorite among my friend group. But I quickly realized that a certain user had a green building icon next to their name.
What does green building really mean on Cash App? !
What does Green Building on Cash App mean?
The Cash App green building symbol represents the type of account held by Cash App users. Each user has an icon next to their Cash App name. The green building icon stands for “Place of Business” and represents a business account.
This article looks at the Cash App green building icon: what it means, where to find it, and how to switch your personal account to the business account it represents.
What types of accounts does Cash App offer?
Cash App offers two types of accounts: personal and business. When you sign up and create an account, you will always start with a personal account (with the option to switch to a business account).
So the (default) account you set up is always a personal account. The main differences between personal and business accounts are payment limits, transaction fees, and the number of transactions allowed per month.
How do you confirm your Cash App account type?
To determine which type of Cash App account you have, simply launch the app and tap your profile icon in the upper right corner of the home screen (or upper left corner if using Android).
Once the profile settings page opens, scroll down until you see the “Personal” or “Business” tab. These tabs will confirm your account type.
If you want to change your account type from personal to business:
- Click on the personal tab
- Scroll down until you see “Change account type”
- Carefully read the terms and conditions of the business account
- Select “Change this account” at the bottom of the page
- Click OK.
- Provide a security code or fingerprint if required
Cash App states that business accounts are a permanent change. You cannot switch back to a personal account using the app. The only way to change your decision is to contact the support team.
To find out if you’ve made the switch, check your profile for the green building business icon under your name (personal accounts will show a small square (usually green) with a dollar sign in the middle).
You’ll know you’re paying a business account if you make a payment to any Cash App user’s account and notice the green building icon.
What is the difference between a Cash App personal account and a business account?
Both accounts are free and easy to set up, neither incurs an annual fee, and both can be linked to a bank account.
There is no limit to the amount a Cash App business account can receive. There is also no limit to the number of transactions that can be made through the account each week or month.
However, there is a limit to the amount that certified and verified Cash App business owners can send, which is $7,500 per week.
Cash App Business Account (referred to as business cash) allows account holders to accept unlimited payments of any amount via email, $Cashtag or cash.app account. There are no account limits, but there is a 2.5% fee per transaction (debit card and app transfers) and 2.75% for credit card transactions.
Cash for Business customers can receive instant deposit transactions for free and have access to tax documents.
In contrast, individual Cash App users have a monthly receiving limit of $1,000, a weekly sending limit of $2,500, and pay no standard transaction fees. However, they do pay a fee for instant transfers, which incurs a minimum 1.5% or $0.25 fee.
Please note that the transfer limit for unverified individual account holders (who have not verified their identity with an SSN) is $250 per week.
summarize
The most common Cash App icon is a rounded square with a dollar sign in the middle. However, Cash App has another icon to represent a customer’s business account: a small green building symbol.
If you see this icon when making a payment, it only means that the account you’re paying to is a business account.
Cash App business accounts are designed for small business account holders whose accounts require ongoing payments on a daily basis.
