Goodbye Western Union, Hello Square Cash. Transferring money used to be one royal pain. Western Union did their best to expedite, but there were so many steps to get this done. I used to cringe if someone asked me to send them some dough. The money wasn’t the problem. It was just a time-consuming assignment.
Now a new service, Square Cash, lets you transfer money with just a few clicks on your computer. Square Cash is an offspring of Square, Inc., the swiping device that allows merchants to accept credit cards on smartphones and tablets.
Square Cash allows you to send up to $2,500 a week to friends and family in several transactions or all at once using debit cards from Visa or MasterCard.
Square Cash is very simple to use. It’s all done by email. The following is Tech Crunch’s explanation of how it works.
“The sender simply emails the person they want to send the money to with the amount of money either in the subject or body of the email and CC’s firstname.lastname@example.org. If the sender has not already added his or her debit card, then Square will instruct the sender to register a debit card on a web page with just the card number, billing ZIP code and the expiration date. The recipient will immediately get another email from Square telling them that they have received money from the sender with a link to add the recipient’s debit card, billing ZIP, and expiration date.
Once they type in their debit card information, this begins the transfer, which takes one to two business days. We’re told that the recipient has up to 14 days to enter the debit card and receive the money, and the recipient will get reminders every other day via email.”
There are other services that allow you to transfer money, but most tech writers believe this is the easiest to use.
Watch a video that explains it all.