With those things in mind, Square Cash is one of the best options for them. This platform helps its users to send and receive money through their mobile phones without any fees. In this article, we will discuss what Square Cash is, how to create a Square Cash account, how to use it, and some of the pros and cons of using it.
What Is Square Cash?
Square Cash is an app that Square, Inc. introduced in 2013. It is a service that makes sending money as simple and easy as sending an e-mail. It promotes a solution to manage regular payments including rent, services, and more. Designed as quick and easy to use, it is one of the most convenient ways of sending and receiving money from anyone. Square Cash is a free, fast, and safe mobile banking app. Users need not write checks or even pay ATM fees. Furthermore, the recipient of the money you’re sending to doesn’t need to be physically present because it facilitates online and long-distance payments. They will receive the money sent to them wherever they are. However, the recipient needs to enter their debit card number before the money can be transferred to their bank account.
What Does Square Cash Do?
Square Cash is an app that helps individuals and businesses send and receive payments digitally. Moreover, it helps small businesses to accept credit card payments. It offers a cashless, cardless lifestyle to consumers. Furthermore, users can transfer the balance on their Square Cash account to their bank accounts. If you’re looking to try out a cashless lifestyle, why not try WePay as well? We have a guide that talks about its features and how to use it.
How To Create An Account?
There are two ways on how you can create a Square Cash account. It’s either on the Cash website or in the Cash app. Here are the steps to create a Square Cash account.
Through the Cash Website
Through the Cash App
How Can You Add Money To Your Cash Card On The Square Cash App?
How to Send Money Using Square Cash?
Square Cash offers several ways to send money.
Through Cash.me Website
It is easy to send money through Square Cash on a browser. You need to know the $Cashtag (the brand-specific username) of your recipient: just put a dollar sign before the name of your recipient. Also, you can send money even if you don’t have a Square Cash account.
Through Square Cash App
Square Cash app is very easy to use. You just have to follow the instructions in the app. If you are asked to enter the amount that you want to send and the basic contact information of the person to whom you are sending the money, just do so. You can use the receiver’s phone number, e-mail address, or $Cashtags.
Through Siri
To use Siri to pay with Square Cash, be sure that your iPhone has the latest version of iOS.
Through iMessage
Through Snapcash
This applies to Snapchat users. However, the user should sign up for Square Cash. He should go to Snapchat settings. On the settings, he needs to tap “Snapcash” then “Add Card” to link his debit card. Here are the steps to send money using Snapcash:
Through E-mail
How To Receive Money?
By Sending a Request
Accepting Payments
Another way to receive money via Square Cash is through accepting payments. If the person sending you money has done so in the past, their payment will be automatically added to your account. However, you have to manually accept a person’s payment if it’s your first transaction with them. Here are the ways on how you can accept the first-time payment: If the person sends you money again in the future, the money will be automatically added to your Square Cash account. There’s no need for you to confirm the payment.
Cashing Out Balance
Pay Through Square Cash
One of the cool features of Square Cash is its virtual card product. It gives every Square Cash user a virtual Visa debit card number. You can immediately pay for an item as long as they accept Visa. Users can spend their balance on any online shopping site. They just need to enter the virtual card number as the payment option. Also, they can use it in some stores, but only the available funds can be used.
Pros And Cons Of Using Square Cash
Pros
Cashtag payments No Square Cash fees Offers rewards Different ways of sending and receiving funds Ideal for low-volume merchants No monthly fees Impressive features Affordable chip card readers All-in-one payment system Easy to use Secure remote payments Downloading the app, connecting your bank account, making payments, and transferring funds to your account are free Signing up is easy and quick Supports standard, U.S.-issued AMEX, Visa, MasterCard, and Discover credit and debit cards No need to install the app, just provide your debit card number Buy, sell, deposit, and withdraw Bitcoin
Cons
3% fee if you use a credit card Can’t be used outside the U.S. Can’t mix accounts Only connects to your bank account Not suitable for high-risk industries High charge for instant deposits Limited customer support Payments are limited to $ 1,000 per month No foreign payment can be made or accepted Support can only be reached through their social media accounts or email Square Cash can terminate any account or hold the funds if justified
Square Cash Alternatives
PayPal
PayPal offers payment services and solutions not only to consumers but also to businesses. This digital payment service offers a simple, domestic, and international money transfer method through e-mail. It’s a hit for people who prefer to do their shopping online. Users can also send or receive money through its website or the app by linking their debit or credit card. Both small businesses and large corporations can include PayPal payments on their online checkout process. Additionally, its users need an e-mail address to sign up for an account. To complete the setup, they also need to provide their credit or debit card. Sending and receiving money has never been this easy. If you’re looking for the best PayPal alternatives, you can check out our list today!
Google Pay
Formerly known as Google Wallet, this fast, free, and simple way of sending and requesting money doesn’t require the recipient to have an account. Also, it makes paying online, in apps and stores, very easy. Users can make payments with their Android phones, tablets, or watches. Use your email address or your registered phone number to send money to whoever you want. Moreover, the received money can be directly transferred to the default payment method.
Facebook Messenger
This is free for all Facebook users. However, it requires using a debit card and doesn’t support credit cards or linked bank accounts. Moreover, its use is limited to personal transactions only.
Pay Anytime, Anywhere With Square Cash
Whenever we go shopping and find interesting and useful things, we tend to buy them. However, we can’t avoid running out of cash sometimes. This causes us to either call for a friend for cash or just go home and get some. Square Cash makes it easy for us to pay anytime, anywhere. When we are in a certain store, we can just message our friends to send us money. We can also request our loved ones to send cash our way. When we receive the money they sent, we can use our virtual debit card provided by Square Cash to use for paying. Now, cardless and cashless options are possible with Square Cash. For more on Fintech topics, check out Robots.net to read more articles.
