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Email cash person to person at NO cost - Square Cash - Cash app

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  • Email cash person to person at NO cost - Square Cash - Cash app

    Review of Square Cash: The Money Is in the Email - WSJ.com

    Square Cash (brought to you by the Square credit card processing - Square reader phone app - people) is a way for U.S. individuals to email, at NO cost, cash from one to another.

    Simply sign up (no verification required to send US $250. or less per week) and send an email to a person, with the subject indicating how much you would like to send, and cc the email to cash@square.com There is of course a sign up process at both ends that consists of little more than associating a debit card with your email address - but after the email is sent the money is debited from the sender's bank account and ACH'ed (electronic transferred) with a couple of days to the recipient.

    To send higher amounts - up to US $2500. per week, the sender must verify his identity (with a social security number identity check), or - and this is interesting - allow access to his Facebook account (no information passed or shared, simple verification that you are a real person with a Facebook account).

    Supposedly Square Cash is not for merchants or online purchases - just to send money from one person to another, but for our purposes I think it could be used with impunity. Seems to me that it will be difficult for Square Cash to figure out, at least right away, that the account is used for business. Perhaps all they care about is that the money is sent to and from individuals, and not businesses.

    Square Cash does have fraud control in place, but the only recourse is to reverse the transaction (and hope that the money is still available in the recipient's bank account). Since Square Cash does not hold the money (at least not for any appreciable length of time), it assumes no sort of indemnity liability.

    Best of all - Square Cash is FREE to send and receive. (Square Cash plans to make money not from ads or offers, but from premium "add on" services, such as the ability to use it internationally.)
    Please read the forum rules before you post.

    And if you need extra help:
    Modee Tech Support

  • #2
    This and other apps like it, such as Venmo, are gaining in popularity. The app is called merely "Cash" and many are unaware that it is actually a credit card processor, because it is also used for processing credit card transactions. The free transfer of cash is intended for non business transactions that do not represent the sale of goods or services. You may however use the app to receive cash for any purpose, although if Square Cash gets wind of what you are doing, they might shut you down. Also, of course, Square Cash transactions are not easily reversible, which is good for the recipient, not necessarily for the buyer!
    Please read the forum rules before you post.

    And if you need extra help:
    Modee Tech Support

    Comment


    • #3
      Originally posted by Modee View Post
      This and other apps like it, such as Venmo, are gaining in popularity. The app is called merely "Cash" and many are unaware that it is actually a credit card processor, because it is also used for processing credit card transactions. The free transfer of cash is intended for non business transactions that do not represent the sale of goods or services. You may however use the app to receive cash for any purpose, although if Square Cash gets wind of what you are doing, they might shut you down. Also, of course, Square Cash transactions are not easily reversible, which is good for the recipient, not necessarily for the buyer!
      Is it only for US citizens? Just curious?

      Comment


      • #4
        Officially:
        You must be a resident of the United States and at least 18 years, and the age of majority in your State of residence, or older to use the Services. You must use the Services in the United States and create an account with your email or a wireless telephone number you own.

        Unofficially, if you had some way to VPS to the U.S., and a U.S. bank account, it could work from abroad, but still you would be limited to sending money to / from a U.S. bank account. And by the way, VOIP phones (such as Google Voice) will work does not have to be "a wireless telephone number you own" but would need to have a U.S. area code on the number.
        Please read the forum rules before you post.

        And if you need extra help:
        Modee Tech Support

        Comment

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