![]() ![]() If paying through Venmo or Cash App is the preference for your clientele, then follow through the steps to set up a business account with these services. So while my short answer in the beginning was “no,” it was because the question was in regards to accepting payment in a personal Venmo or Cash App account. The key here is that this is a separate account set up as a business, not your personal account. If you are a seller of goods or services, your profile will be marked with an official insignia or will otherwise be designated as having a “Cash for Business Account.” You must have an Unrestricted Account to be a Cash for Business Seller.įor both of these services, you can open up authorized business accounts for your business. Transaction Processing for Cash for Business Sellers, it states The peer-to-peer Service (“Peer-to-Peer Service”) allows you to send funds or receive funds for peer-to-peer personal, non-commercial purposes.Īnd under part VII. The Terms of Service (last updated June 2022 at the time of this update) state under part VII. The Terms of Service for Cash App are pretty similar. Here’s where these services come in – you can either send each friend a request for their portion of the bill, or they can send a payment directly! Easy + Convenient!Įxamples can be said about basically anything where you owe a friend cash for something (utilities, lunch, gas, etc.)īut that’s the thing … these are peer-to-peer, friend-to-friend. You throw it all on your credit card (because you earn points – cha-ching!) and your friends offer to pay you back … but they don’t carry any cash. Say, you and your friends go out to eat, and the restaurant doesn’t provide split checks. ![]() Let me back up for a moment and explain what Venmo and Cash App traditionally are to those who aren’t familiar: They are both services that provide peer-to-peer electronic money transfers. The original reason I gave this answer was because of the User Agreement and Terms of Service for both Venmo and Cash App – because I’m sure you read through all 25+ pages of both agreements before you checked the box to open your personal account! And because of my personal experience of Cash App freezing my account. My unfortunate answer was, “No, I wouldn’t.” A few years ago, I was asked the following question by a group of bright-eyed and bushy-tailed entrepreneurs: Can my business accept payments through my personal Venmo or Cash App account? ![]()
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