I recently downloaded Cash App as it seems to be the fan favorite among my friend group. But I quickly realized there was a green building icon next to some user’s name.
What exactly does the green building mean on Cash App?!
What Does The Green Building On The Cash App Mean?
The Cash App green building symbol represents the type of account being held by the Cash App user. Next to every user’s Cash App name, there is an icon. The green building icon represents a ‘business premises’ and signifies 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 Kind Of Accounts Does Cash App Offer?
Cash App offers two types of accounts: personal and business. When you sign up and make an account, you’ll always begin with a personal account (with the option to switch to a business account).
Therefore, your set up (default) account is always a personal account. The main differences between personal and business accounts concern the payment limits, transaction fees, and the number of permitted transactions per month.
How Do You Confirm Your Cash App Account Type?
To clarify which type of Cash App account you have, simply launch the app and tap on your profile icon on the upper right of the home screen (upper left if using Android).
Once the profile settings page opens, scroll down until you see either a ‘Personal’ or ‘Business’ tab. These tabs will confirm your account type.
If you want to change your account type from personal to business:
- Tap the Personal tab
- Scroll down until you see ‘Change Account Type’
- Read carefully through the terms and conditions for the business account
- Select ‘Change This Account’ at the bottom of the page
- Click confirm.
- Provide a security pin or fingerprint if requested
Cash App state that a business account is a permanent change. You can’t switch back to a personal account using the app. The only way to reverse your decision is to contact the support team.
To determine that you’ve made the switch, check for the green building business icon below your name in your profile (a personal account will show a small square (usually green) with a dollar sign in the center).
If you’re making a payment to any Cash App user’s account and notice the green building icon, you’ll know you’re paying into a business account.
What’s The Difference Between Cash App Personal And Business Accounts?
Both accounts are free and simple to set up, neither incur annual fees, and both can be linked to a bank account.
There is no limit on the amount of money a Cash App business account can receive. There is also no restriction on the number of transactions made through the account per week or month.
However, there is a limit on the amount of money that certified and verified Cash App business owners can send, which is $7500 per week.
A Cash App business account (referred to as Cash for Business) allows the account holder to accept unlimited payments of any size via email, $Cashtag, or cash.app account. There are no account limits, but there is a 2.5% per transaction fee (debit card and app transfers), and credit card transaction fees are 2.75%.
Cash for Business customers can receive Instant Deposit transactions for free and have access to tax documentation.
In contrast, personal Cash App users have a $1000 per month limit on money received, a $2500 per week limit on money sent, and do not pay any standard transaction fees. They do, however, pay a fee on instant transfers, which incur a minimum 1.5% or $0.25 fee.
Note that unverified personal account holders (who have not verified their identification with an SSN) have a sending limit of $250 per week.
The most common Cash App icon is the rounded square with the dollar sign in the center. However, Cash App has another icon representing the customer’s business account: the small green building symbol.
If you see this icon when you’re making a payment, it simply means that the account you’re paying into is a business account.
The Cash App business accounts are designed for account holders with small businesses who are taking consistent daily payments into their accounts.