Square Cash is one of my favorite new services! It allows a person to quickly and easily send money to someone else through the internet for free. You don't have to sign up for anything, you just send an email.
I have been using Square Cash since it launched in October and I have used it to send money to family members and friends. It is so easy to use and the money arrives in the other person's checking account one to two business days later. Everyone that I have sent money to had no clue that I was going to send them money via email and they all were impressed with how easy the process was and how quickly the money arrived.
In the example below I sent my wife $1 to her checking account (we share our main account but she still has one from before we met).
How To Send Cash With Square
- Draft an email with the recipient's email address in the "To" field.
- Enter firstname.lastname@example.org in the Cc field.
- Enter at least $1.00 in the subject line. For example: $10.
- Add a note in the email body to inform the recipient why you are sending Cash.
- Send the email.
If you haven’t sent or received Square Cash before, you will be prompted to link a debit card. It takes about 90 seconds to connect your debit card and you never have to do it again!
Once added, your cash will be sent and you'll see the "Cash Sent" confirmation screen.
How To Receive Cash From Square
The recipient will receive an email from you and a couple minutes they will receive an email from Square prompting them to deposit the cash in their checking account.
The recipient is taken to Square's secure website where they enter in their Debit Card Number, Expiration Date, Zip Code, and CVV.
Once you have completed the process, you will see a confirmation screen explaining that the money will appear in your checking account in one to two business days.
How Secure Is It?
For people unfamiliar with Square, they have been in business since 2009 and are most famous for the Square credit card swiper that you see people use with their smart phone or tablet to process credit card transactions. They are now processing over $5 billion every year.
Square takes security very seriously. They use encryption and are compliant with PCI Data Security Standard (PCI-DSS) Level 1.
Here is a blurb from the Square Cash Security webpage.
I would encourage you to try out Square Cash next time you owe someone money! I am going to start encouraging my clients to pay me with Square Cash since most people still pay me via check and Square Cash draws the money right from your checking account.
If you want to try sending someone $1 to test it out feel free to send it to my email address and I will send the $1 back to you.
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