Transfer Cash App to E*TRADE in 2024
How to Transfer Cash App to E*Trade
If you have a Cash App account but would rather be with E*Trade, it’s possible to make the switch in a few easy steps. Here’s how to make the transfer:
Transfer Money From Cash App to E*Trade
Step 1: The Automated Clearing House can be used to transfer cash (but not securities) from a Cash App account to an E*Trade account. The E*Trade account could be either a bank or investing account. The latter could be either a robo or self-directed account.
For any type of transfer, you’ll need Cash App’s Cash Card. If you don’t yet have this banking add-on, you can request it through the Cash App. Open the app and tap on the tile for the Cash Balance that appears on the home screen. Fill in the requested details to have Cash App send you the card through the postal system.
Step 2: When Cash App generates the Cash Card, it will display routing/ABA and account numbers for the card in the app. With these numbers, you can link the Cash App account at E*Trade. This is really easy to do on either E*Trade’s mobile app or website. On the broker’s main mobile app, tap on the Menu icon in the bottom row of icons. Next, tap on the Transfer link. On the next page, select the option to transfer money. Finally, you’ll see the link to add a bank account (it will be near the top).
Step 3: Once the Cash App account is linked at E*Trade, simply go back to the Transfer section you used in the second step and pull funds into the E*Trade account using an ACH transfer. It will take a few business days for the money to show up in the receiving account.
Other Idea: For a faster transfer, it’s possible to enter a debit card number from an E*Trade account on the Cash App (via the Add Cash link on the home screen) and perform an instant ACH transfer from inside the Cash App. Cash App charges a fee for this option, however. It is 0.5% - 1.75% (subject to a $0.25 minimum).
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Transfer Investments From Cash App to E*Trade
Stocks and ETFs (but not bitcoin) can be moved from Cash App to E*Trade through the ACATS network, although the process is somewhat different than the one we saw for an ACH transfer.
Step 1: A new E*Trade investing account needs to be opened. It can be either self-directed or automated. It must have the same name on it as the Cash App account. It must also be an individual account, which is the only account type Cash App has at the moment.
Step 2: The Cash App account should be set up for the impending move. If you’re transferring into a robo account, stocks will be sold off, so you may want to sell these before the move. Bitcoin must be left behind in a partial transfer or liquidated whether going into a self-directed or robo account.
Step 3: Finally, it’s time to request the transfer of securities. This must be done through
E*Trade. On the broker’s mobile app, go back to the Transfer page. This time, select the link to transfer an account (instead of the one to transfer money). On the next page, you’ll need to search for Cash App and then manually add it because it isn’t on E*Trade’s list of potential outgoing brokers. Fill in the other requested details, such as the Cash App account number, and whether you want a full or partial transfer.
Cash App does charge $75 for any type of outgoing ACATS transfer.
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