Cash App Direct Deposit

The cash app is one of those payment applications in the market that sets up the chain of up-gradation for other applications. It has always been known to experiment and add new interesting things in its application for its users. Right from adding bitcoin as a medium of exchange to a tax filing system in its application, the cash app has added features that were unimaginable at one point in time. Owned by square inc., this payment mechanism is one of the most feature-loaded applications in the market. It is considered to be the most innovation-friendly payment service provider in the industry. 

Whenever the cash app adds something to its application, the others follow it. It is always open to experimentation. The reason it does it is because it believes in the value of providing its customers something new from time to time. This’ something’ should be innovative, interesting, and convenient for the customers. 

One of these innovative additions is the direct deposit function of the cash app. Yes! you can directly deposit the amount directly in your cash app wallet. 

For those of you who don’t understand what a direct deposit is, it means that you can transfer the money from one bank account to another, electronically. It is beneficial in a way that you don’t need to cut a cheque or do other unnecessary paperwork. 

The Issue – Cash App Direct Deposit Failed

The issue is that, if someone doesn’t have a bank account in one of the mainstream banks in the country then it will be impossible for them to add money to their cash app wallet.  So what the cash app came up with is that you can use the option of direct deposit cash app.  You can easily get a bank account number and routing number for receiving the payment through the method of direct deposit. 

The unique direct deposit feature on the Cash app allows users to get their paychecks from employers directly in your bank account without any service charges. The same can be done for peer-to-peer payments.

The Rationale 

On 8th March 2018, square inc. took to Twitter and wrote “PAYDAY! Cash App now supports direct deposits for your paychecks. Give your employer the account and routing number in your Cash settings, and we’ll notify you the second that direct deposit hits.”

After this announcement, Jack Dorsey explained the reason why they took the decision of launching a direct deposit feature in their cash app. He said that there are numerous people who do not have a bank account in major banking service, they usually have accounts in local banks. This hampers people in using the cash app so the company decided that it will provide this direct deposit on a cash app feature which will be similar to any bank service. They tied up with Lincoln savings bank to generate bank account numbers and routing numbers for their users. 

Benefits of cash app direct deposit

1. Ease of payment- The direct deposit mechanism is already known as an easy mode of payment.  When this feature is available on the cash app, it becomes more convenient.  Cash app is one of the easiest payment mechanisms and when it is complemented with the feature of direct deposit to cash app this app is cherry on the cake! 

The goal of the cash app is to facilitate ease of transactions. Apart from peer-to-peer payments, it also eases the payments by organizations. The cash app has the features of doing B2B and C2B transactions.  Modern employers also use the feature of direct deposit to make payments to their employees. 

2. Far better reach- The feature of direct deposit on the cash app has led to far better reach and has certainly increased the frequency of transactions. Those who do not have an account in mainstream bank accounts can also receive payments using the cash app. They are allowed to directly deposit the money to the cash app by using the routing number. 

3. Advanced- The feature of direct deposit in cash app is a very advanced feature that cannot be seen in any other application in its category. We have always been witness to the new innovative methods that cash app employs for their customers, and they all have been way ahead as compared to the features provided by cash app’s counterparts. We have already seen its adoption of bitcoin transactions and tax filing features being praised by the customers. The same thing goes for the direct deposit feature of this wonderful application. 

How to enable direct deposit on cash app? 

  1. The first step is to log into your Cash App account using your pin.  After you have logged in using your password, you need to tap on the Balance tab in your cash app.
  2. In the balance tab, you will find the option of my cash app button.  This cash app button will lead you to a screen. 
  3. After completing the above steps and coming onto the screen showing the direct deposit option, scroll down below in the screen and select the direct deposit option.
  4. After that, you will see a direct deposit option. There will be multiple options in that tab one of them will be the account number option.
  5. Press the option of getting an account or routing number 

The option of cash app direct deposit option will be activated.

Time required in Cash App Direct Deposit

The direct deposit in cash app is completed instantly. But it may take around 2 days to be reflected in your Cash app account.  After the amount is reflected in your bank account, then only you can use this money to make payments for your bills and other things.  If you are not able to see this money in the cash app account in the said period, then you need to instantly connect to the cash app customer representative. 

You can stay assured that your money will not be lost anywhere in transit. The cash app is one of the most secure methods of making the payment and employs the toughest security protocols. The days may vary from 2-3 days, but if not then connect to the cash app service asap. 

Common Issues faced by the customers

Sometimes the direct deposits fail because of various reasons. It may happen that you may not have updated your cash app, before making a direct deposit ensure that you have updated your cash app. If you haven’t updated your cash app, then apart from direct deposits you may face other issues as well. 

It may also happen that there are some issues with your bank account only. Many times we see a notification like a bank server down which leads to the problem of cancellation of transactions.  So if you want to use the service of cash app direct deposit then you will have to wait for your bank server to revive. In cases like this, you should always connect with the bank’s customer service executive.

This is a very common mistake that leads to the failure of direct deposit. Sometimes while adding money through direct deposit, we enter the wrong credentials. You always need to check the credentials at least two times before making the payment. If you enter the wrong credentials or routing number, then your direct deposit will fail. 

You may face failure in the direct deposit option even when you have a low internet network. We think that the application itself is not working, but the main issue lies with your mobile network connectivity. It is always recommended that you are in a good network zone before making the direct deposit. 

Conclusion 

Cash app has faced a backlash at times and the reason for this is not because they were involved in any wrongful activities but rather their urge to always do something innovative. Several Forbes CEOs came out against Jack Dorsey for coming up with bitcon trading option. Those who were against bitcoin, also came out against cash app. They said that it has no basis, no solid fundamentals and no tangible value. But we all know how all that turned out to be. Both the bitcoin and bitcoin trading features of the cash app are enjoying huge popularity. 

The point we are trying to put in front of you is, don’t be hesitant to use the new features that the cash app is providing you. It will always give you the best that can be there in the market. It always keeps in mind the best interest of its customers. No matter what length they will have to go to but they will always add features that will prove to be highly convenient for you.