The Cash app provides an easy way to send money to friends and businesses as well as buy cryptocurrency directly from your phone or tablet. Here’s what it is and how it works.
The Cash app by Square is one of the hottest properties in the App Store and Google Play. It offers a quick, easy way to send, spend, and save money, also buy cryptocurrency using your mobile device. Customers can also get a free Cash App Card that works like other debit cards. Here’s more about Cash.
Meet the Cash App
Like Venmo before it, Cash App by Square is a mobile payment app ideally suited for millennials or anyone else who rather not carry bills (or coins) around like it’s 1985. Instead, payments between peers are completed using a mobile app. Unlike similar products, Cash gives you the ability to receive direct deposit payments to your bank account. You can also buy and sell Bitcoin through the app.
Cash App is an app that allows for direct peer-to-peer payment via your mobile device. Cash App users can get an optional Visa debit card that allows them to use funds from their Cash App account or even withdraw cash from an ATM. You need to have a working bank account tied to your Cash App account to transfer money.
How Cash App works:
You can add funds to your Cash App account using a debit card linked to an existing bank account. You can also transfer funds from your Cash App account to your bank account, a process that usually takes two to three days.
Cash App has two primary functions: paying people and getting paid. To accomplish both, you start by tapping the dollar sign icon "$" at the bottom of the app.
Next, you enter the amount in question, then tap "Request" or "Pay," depending on the circumstances. Then, enter the other party's $cashtag (or email or phone) and send or request the money.
One of the things that set Cash App apart from other online payment platforms is the free Visa-certified debit card, called a Cash Card, that users can request. This debit card can be used at standard brick-and-mortar retail locations and at ATMs to take out cash.
When using the Cash App, be extra mindful of entering recipients' information properly, because if you accidentally send money to the wrong party there is no real recourse to get it back once the transfer has been initiated other than asking for it and hoping they do the right thing by refunding it, although you may be able to cancel certain pending payments.
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