Humans are inherently social beings. We like to go out and spend time with our friends and family, but often times we forget to carry cash with us and end up owing our friends some money. An app called Square Cash is here to help when we find ourselves in this bind.
Square Cash allows you to easily send money from your debit card, credit card, or any available funds in your cash app to your friends. You can do this by requesting money via the app or via e-mail.
By now we have all probably heard of the company Square, which markets payment products like Square Register and Square Reader. Jack Dorsey and Jim McKelvey founded Square in 2009 and launched the company’s first app and service in 2010. The company has expanded its reach into small business services like Square Cash.
To get started with the app, you can simply enter your phone number or email, select whether or not you will be using the app for personal use or business use, then enter a debit card number in order to link your account to your bank. You will also be asked to enter your full name and to create a $Cashtag. A $Cashtag is a unique name that will identify you or your business.
In order to pay from the cash app, enter the amount of money you wish to send and tap pay or request. Then add the name, $Cashtag, or mobile phone number of the recipient. You can also choose to enter a note to remind your friend or recipient about why you are sending them money. Once you are finished entering your note, simply tap pay or request once again. Your recipient should receive an email or SMS notification letting them know you have sent them their money.
Most payments will process instantly, but some can take up to two business days. The app does have a sending and receiving limit, except when you are using the app for business purposes.
According to the website, “When you’ve sent a Cash payment, it will either stay in your Cash app for future use, or automatically skip the app and deposit to your linked bank account. If you can’t find a recent payment in your bank account, the first place to look is the app.
To check, open the app and look for a dollar amount at the top of the screen. If your money’s in the app, you can initiate a deposit to your bank by tapping the dollar amount, then tapping Cash Out. Next, choose your desired deposit speed – Next Day (one business day, free) or Instant (funds are available immediately, costs one percent of the total deposit amount).”
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