If you have an Everyday checking account at Wells Fargo bank, you may want to transfer money to Cash App to use them. Banks and fin-tech apps often have various ways to transfer money. Big banks can offer Zelle, paper checks, and wire transfers, but the most popular way to transfer money between your own accounts is an ACH transfer.
ACH transfer from Wells Fargo
The first option is to perform an ACH transfer from your Wells Fargo checking account. To do so, go to the bank’s website and enter your username and password. If you have 2-factor authentication, enter a 6-digit verification code. Bank send the one-time security code to your phone via SMS, email, or as a push notification to the Wells Fargo mobile app. Then you enter the code and pass the verification.
After logging in, you must add Cash App as an external bank account.
Is Cash App legitimate?
You may suspect that Cash App is not a legitimate bank. How do you connect it? Cash App is a financial technology company that deposits your funds with one of its partner banks. Lincoln Savings Bank and Sutton Bank are two of them. They have FDIC insurance, so you can rest assured that your money will not vanish. FDIC is an abbreviation for the Federal Deposit Insurance Corporation. The FDIC is an independent agency established by the United States Congress following the Great Depression to ensure public trust in banks.
After you open your Wells Fargo checking account page find the “Transfer Money” button and click on it. Next on the Transfer Money page find the line “Non-Wells Fargo Accounts” and click on “Add Account”. On the “Add Non-Wells Fargo Account” page you have to certify that you own an external bank account. It means you cannot ACH transfer money to someone else account. Select “Personal Checking” if your Cash App is personal. But if your Cash App account is a business one, then you have to select “Business Checking”. The savings account option in this case is not applicable. You have to select how you intend to use the external account. I always select “Transfer and Payments”.
Next, you have to enter the routing number and account number. Here it is very important to find YOUR numbers. The easiest way to find them is in Cash App. Just open the app on your phone, tap on the left bottom corner, and at the top, you should tap on the account number at the top. It will show you the full account and routing numbers.
Trial transactions
After you fill in the details you can click continue. The next step is to verify ownership via a method called “Trial transactions”. During this step, the bank makes 2 deposits of less than $1. After this, it immediately withdraws the sum of the deposits. If you can enter the correct numbers, it means you have access to the account. Otherwise, you may have entered someone else’s account number and shouldn’t be allowed to transfer money.
Once you verify that you own a Cash App account, you can make an ACH transfer to Cash App and back. These transfers usually take 2 business days to complete. However, some banks can take up to 4 days to make money fully available to use or withdraw. But in my personal experience transfer from Wells Fargo to Cash App took only 2 days.
To better illustrate the process I’ve prepared screen-cast with step-by-step instructions. Watch my video below for more details.
Transfer using Wells Fargo debit card
The primary benefit of using a Wells Fargo debit card to transfer is the speed with which the transfer is completed. It is an immediate transfer. Compare it with an ACH transfer that takes at least two days! Your Wells Fargo debit card can be linked to the Cash App and a transfer can be made soon after. If you haven’t linked another debit card, you should be prompted to “Add a bank using your debit card” in the Cash App. However, if you previously linked another debit card, you must unlink it before connecting the Wells Fargo debit card.
Exotic way
The most exotic and expensive way is to withdraw cash from Wells Fargo ATM and deposit it to your Cash App account at a retail store like Walmart, Walgreens, or a few others. Be aware that this way costs a $1 deposit fee. I’ve tried to deposit $300 at a retail store and the cashier was very suspicious and called for a supervisor to help. Imagine how will you deposit $500 twice in the same store!
The bottom line
There is a very few ways to transfer money from Wells Fargo to Cash App. For example, mobile check deposit, Zelle transfer, and wire transfer are not available. Other banks and fin-tech companies like Chime bank have variety of options including mobile check deposit.