How to Borrow Money from Cash App


Borrowing money from Cash App is convenient and easy, but it’s important to understand the eligibility criteria, fees, and repayment terms. This guide provides step-by-step instructions on how to borrow money from Cash App and explores alternatives if you’re not eligible.

If you find yourself in need of some quick cash, you may think of turning to a payday loan, title loan, or credit card cash advance. However, if you have Cash App, you could access money even faster and with less expensive fees.

If you decide that borrowing money through Cash App Borrow is your best option, it’s essential to understand the process, eligibility requirements, fees, and repayment terms. In this article, we’ll walk you through the steps and provide insights into using Cash App as a lending option.

How do I borrow money from Cash App?

Not everyone is eligible for Cash App Borrow, and several factors may influence your eligibility. For example, your credit history, where you live, your Cash App usage, and the possession of an activated Cash Card can all have an impact on your borrowing power. However, once you’re notified that you’re eligible, the borrowing process is fairly straightforward.

To borrow money on Cash App, simply follow these steps:

  1. Open Cash App.
  2. Look for the “Borrow” option (search on the home screen, or tap on “cash balance” to bring up the banking menu). If you see “Borrow,” it means you’re eligible for a Cash App loan.
  3. Select “Borrow,” then tap “Unlock.”
  4. Cash App will display the available loan amount. Choose your desired sum.
  5. Read and accept the user agreement.

Cash App fees and interest rates

When using Cash App Borrow, you can obtain a short-term loan, but it’s important to be aware of the associated fees. Cash App charges a 5% flat fee for the loan, which must be repaid within the specified time frame to avoid a 1.25% finance charge.

Loan limits and repayment terms

Cash App Borrow allows you to borrow a maximum of $200. You have a four-week repayment window, and the full amount must be repaid on the due date. Failing to repay the loan by your due date results in a 1.25% finance charge per week.

You can choose to pay off your loan early or make multiple payments ahead of your due date with no prepayment penalties. If you want, you can opt to have automatic payments deducted from your Cash App balance or debit card, or you can make other arrangements. Delayed payments could potentially affect your credit score, so automated payments can help you stay on track.

In a nutshell, here’s how Cash App Borrow works:

  • Loan amounts range from $20 to $200.
  • You have four weeks to repay the loan.
  • Missing your loan due date incurs a 1.25% finance charge.
  • You can repay your loan early without penalty.
  • Late payments may impact your credit score.

What if I can’t borrow money from Cash App?

Cash App Borrow may not be available in all states, and, as mentioned, eligibility is influenced by factors such as credit history, Cash App usage, and the possession of a Cash Card. According to Cash App customer service, while there is no guarantee that Cash App Borrow will be available to you, you can improve your chances of gaining access to the Borrow feature by taking the following steps:

  • Use your cash card: The more you use your card, the better.
  • Deposit money: Add $200 or more into your Cash App account each month.
  • Maintain a positive balance: Always keep some money in your cash balance.
  • Enable direct deposit: If you use Cash App’s direct deposit feature, you’re more likely to become eligible for Borrow.

All that said, however, there are no hard and fast rules, says Anthony, a customer service representative from Cash App.


“Your eligibility is determined by these and other factors, but it’s not guaranteed. You’ll be notified if you become eligible. Doing any and all of the above may not result in your ability to access Borrow.” —Anthony, Cash App customer service representative

Is Cash App safe?

Cash App employs security measures, but users should also exercise caution and follow best practices for safe financial transactions. For your part, this means only sending money to people or vendors you know and trust and verifying contact information. (Scammers have been known to use profile names very similar to people or merchants you know in the hopes you won’t catch the discrepancy.)

Charles Chow, a cybersecurity expert and head of marketing at Lumen Technologies Asia Pacific, points out that Cash App is a financial technology (fintech) company, not a bank, so it’s not as secure as banks.

“It’s important to remember that services like Chime and Cash App are fintech companies, not banks. Banks have strict regulatory and cybersecurity compliance regulations. While fintech companies have to follow AML and obtain FDIC insurance, they don’t have the same standards for identity verification. Due to their lower standards for identity verification, fintech companies attract hackers and scammers.”

Alternatives if you’re not eligible for Cash App

If Cash App Borrow isn’t available to you, and you don’t have alternatives such as taking money from your savings or borrowing from friends or family, consider the following options instead:

Cash advances

You can get a cash advance on a credit card, but this typically incurs a 3% to 5% transaction fee and higher interest rates than you pay for regular purchases. A credit card cash advance should generally be considered as a last resort, unless you think you can pay it back right away to avoid the high interest charges.

Cash advance apps

Some mobile apps offer small advances on your paycheck with lower fees than traditional payday loans, but they are still not free. Your best bet is to compare different apps to find the best option.

Personal loans

Some lenders offer quick approval and funds within a few business days. Even borrowers with poor credit may qualify for a bad credit personal loan. Make sure you understand the APR and any additional fees, which could be steep. Also keep in mind that most lenders will report any late payments on your credit history, so your credit score will suffer if you can’t keep up with the payments.

Pro Tip

Cash App Borrow can be a useful tool, especially in emergencies, but it’s essential to pay off the loan on or before its due date. It’s often a better choice compared to payday loans with high APRs or bad credit personal loans with hefty fees.


What is Cash App Borrow?

Cash App Borrow is a feature in the Cash App platform that allows eligible users to borrow a short-term loan of up to $200. However, it’s important to note that Borrow is not an automatic feature of Cash App. You basically need to earn the right to access it by using the app regularly and responsibly — and even then, there are no guarantees.

Why can’t I borrow money from Cash App?

You may not be eligible for Cash App Borrow due to factors such as your state of residence, credit score, Cash App usage, and possession of a Cash Card. If you do become eligible for the Borrow feature, Cash App will notify you directly.

Does Cash App charge fees for deposits?

Apart from borrowing money, other Cash App transactions may incur fees. Standard deposits are usually free and credited within three business days. If you want the money quicker, however, instant deposits come with fees ranging from 0.5% to 1.75%, but they are credited instantly to your debit card or bank account.

Key Takeaways

  • Borrowing money from Cash App is convenient, but eligibility depends on various factors, including credit history and Cash App usage.
  • Cash App Borrow offers short-term loans of up to $200, with a 5% flat fee and a four-week repayment period.
  • If you miss the due date for loan repayment, a 1.25% finance charge applies per week.
  • Late payments may be reported to the major credit bureaus, which will affect your credit score.
  • If you’re not eligible for Cash App Borrow, consider alternative options such as cash advances on credit cards, cash advance apps, or personal loans.
View Article Sources
  1. Consumer Financial Protection Bureau — Payday Loans
  2. Federal Trade Commission — Consumer Finance and Financial Technology
  3. Cash App — Official Website