Cash App Review
Square Cash is a cash-transfer app that makes money transactions as simple as sending an email. It allows anyone with a debit card and email account to send and receive money.
To use this app, you need to link a MasterCard, Visa or Discover debit card to your account, and your transactions will take just seconds to complete.
If you’ve used other money transfer apps like Venmo and Paypal, Square Cash will feel familiar. But even if not, the app is intuitive and simple for those who are not tech savvy and not get used to this kind of services.
Here are the key features of the Square Cash app:
iMessage integration for Apple devices. You can send cash to or request money from someone who doesn’t have an account if you have iMessage. You can literally text money. The app can even detect which of your friends are nearby at the moment and suggests them as recipients. Plus, you can “gift wrap” the money when you wish to send it as a present for a birthday or another occasion.
Email integration. The app allows you to email the person that owes you money, enter the sum in the subject field, and CC the email to [email protected] Both sides will need to enter their banking information, and the money transfer will go through without having to create another account.
Virtual debit card. You can create a “virtual debit card,” which would be useful if you were traveling and your cards were frozen for some reason. Then, you could ask a friend to send funds to your account so that you could use the “virtual debit card” for booking a flight, hotel, or whatever you need.
Touch ID authentication. You can use Touch ID feature to complete money transfers and feel like you are in a Bond movie.
Auto cash out. You don’t need any extra steps to get cash from the app to your bank account. Square Cash has an instant transfers option, so the second someone sends you money, it goes straight to your bank account. However, instant transfer cost 1% of the total deposit amount.
If you don’t wish to pay, you can initiate the transfer manually, which is free and takes one business day. For comparison, Paypal can take 3-5 days.
Square Cash has a minimalistic and stylish design, with the green and white interface. The app is easy to navigate as it doesn’t have any extraneous bells and whistles.
The interface is clear and displays only essential information you need to make transactions.
Square Cash is easy to use. You need to follow the prompts that ask you to enter an amount and contact information of the person you are sending to or receiving from. You can use email addresses, numbers, or $Cashtags, which are the branded usernames within the app.
Both individuals and businesses can get a cashtag and link it to your Square cash account. You can share this tag with your family members and friends to make it easier to send and receive money.
The app’s transactions are PCI-DSS level 1 encrypted, which is the level of security Square company uses for its commercial accounts. The transactions are secured by a passcode, and the app also offers an optional touch ID verification. Square also provides fraud protection against unauthorized charges and offers chargeback protections up to $250 per month.
Cross-platform use 5/5
Square Cash is compatible with both Android and iOS devices. For Android users, a compatible OS version varies with a device, and for Apple users, iOS version required is 9.0 or later.
Square Cash is free to download and sign up for and has no fees for the majority of transactions. There are only two fees you may incur:
- The 1% fee for instant transfers;
- The 2,75% business transactions, which is a good deal compared to Paypal’s 2,9% + $0.30.
Square Cash has managed to stand out from the crowd that includes the giants like PayPal and Venmo, and it is saying something about this service. It’s the most simple and intuitive app for electronic payments that doesn’t even require an account for both parties. It’s integrated into email and messenger, two services most people use every day.
If you are looking to transfer money to your friends and family safely, quickly and easily, give Square Cash a chance. This app is a game changer.Collapse
Square Cash makes sending and receiving money quick and easy, but make sure your email account is secure before using it.
Pros : Free for consumers and easy to use;
No service fees to send money;
Multiple ways to send money.
Cons : Security risk for users who don't have secure passwords or use twostep authentication;
You’ll need separate accounts for personal and business use;
Only available to residents of the U.S.
Cross-platform use 5