If you want to know where your money’s at, then perhaps you might want to try out Square Cash. It is a mobile application that brings back the basics. The app is free for download and is pretty much straightforward in just about every way. It will allow you to send and receive money, and that’s pretty much it. It doesn’t do other fancy gimmicks that would outdo the competition, such as that of Google Wallet, but perhaps the developers are not aiming for that path.
Square Cash Allows You to Send and Receive Cash, and That’s it
Just like its direct rival Venmo, Square Cash is available for Android and iOS mobile devices. But if you want to check on things through a desktop, there is also a Web application as well. Once you register as a user, you will be able to raise your weekly spending limit from $250 to $2,500. To do this, you would have to provide personal information such as the last four digits of your Social Security number. But before you cry out about privacy, doing this will allow the service to prevent fraud and keep everything secure.
The limit for the Square Cash app is at $500 less than that of Venmo’s. However, both of these applications still look pale in comparison to what Google Wallet can handle. To recall, the search engine giant’s application can let you have a $5,000 daily spending limit. Furthermore, Square Cash lacks the credit card functionality as well as direct bank account linking that are featured in other apps. Also, it doesn’t even include the option for letting users store multiple credit cards and loyalty programs, and these are found in the app’s predecessor Square Wallet.
Still, these limitations can still be a good thing as users won’t be face additional fees when handling transactions. Well, that doesn’t mean there is none as the company still requires a 1.5-percent tax on businesses that use the application. But there’s a plus side and that is every user that refers someone else gets $5, and that’s for both parties. Now who doesn’t want free money?
Since transactions made with the use of Square Cash will be directly deposited to your bank account, transactions made through the application is faster than with rivals. After all, the complexity of credit card transactions is what would often cause some people to get into financial problems in the first place. Hence, it is a wise idea for Square to have made this app as simple as it can get.