Investing in stocks through Cash App has gained popularity due to its user-friendly interface and convenience. If you’ve made some profitable investments and want to know how to withdraw your stock money from Cash App, here’s a step-by-step guide to help you with the process.
How to Get Your Stock Money from Cash App?
1. Open the Cash App:
Launch the Cash App on your mobile device or access it through the web.
2. Navigate to the Investing Tab:
Tap the “Investing” tab located at the bottom center of the screen.
3. Select the Stock You Want to Sell:
Scroll through your investments and choose the specific stock you wish to withdraw funds from.
4. Click on the “Sell” Button:
Once you’ve selected the desired stock, tap the “Sell” button next to it.
5. Specify the Amount to Sell:
Enter the amount or number of shares you want to sell, and review the estimated value.
6. Confirm the Sale:
Double-check the details and confirm your decision to sell the stock.
7. Withdraw the Money:
Navigate back to your Cash App home screen, locate the “Cash & BTC” tab, and tap on it.
8. Select “Withdraw Bitcoin”:
Although you’re withdrawing stock money, you’ll choose this option, as Cash App treats the funds from stock sales like Bitcoin.
9. Enter the Withdrawal Amount:
Specify the amount of money you wish to withdraw from your stock sales.
10. Choose the Withdrawal Method:
Select your preferred withdrawal method, such as a bank account linked to your Cash App.
11. Confirm the Transaction:
Review the details and tap the “Confirm” button to initiate the withdrawal process.
12. Wait for the Transfer:
The timeframe for the transfer will vary depending on your bank, but typically it takes 1-3 business days for the funds to be available in your bank account.
Now, let’s address some related or similar frequently asked questions:
Q1: Can I withdraw my stock money directly from the Investing tab in Cash App?
No, you have to initiate the withdrawal process from the “Cash & BTC” tab.
Q2: Are there any fees associated with withdrawing stock money from Cash App?
Cash App does not charge any fees for stock sales or withdrawals, but keep in mind that your bank may have its own transaction fees.
Q3: Can I withdraw funds from only a portion of my stock sales?
Yes, you can specify the amount you want to withdraw when initiating the process.
Q4: Is there a minimum withdrawal amount for stock money?
No, there is no minimum withdrawal amount specified by Cash App.
Q5: Can I withdraw my stock money to a debit card instead of a bank account?
Currently, Cash App only allows withdrawals to verified bank accounts.
Q6: Can I withdraw stock money to an international bank account?
No, Cash App only supports withdrawals to US-based bank accounts.
Q7: How long does it take to receive the funds in my bank account?
Typically, it takes 1-3 business days, but it may vary depending on your bank.
Q8: Do I need to pay taxes on my stock money withdrawals through Cash App?
Yes, stock investments are subject to capital gains tax, so it’s important to consult a tax professional for advice.
Q9: Can I withdraw money from stock sales on weekends?
Yes, Cash App allows withdrawals at any time, including weekends.
Q10: What happens if there is an issue with the withdrawal?
If you encounter any issues, it’s best to contact Cash App support for assistance.
Q11: Can I reinvest my stock money through Cash App?
Absolutely, you can choose to reinvest your stock money or keep it in your Cash App account as cash.
Q12: Is there a daily limit for stock money withdrawals from Cash App?
Cash App imposes certain limits on transactions, so it’s worth checking your account’s limit before attempting a withdrawal.