App That Lets You Transfer Money Online

App That Lets You Transfer Money OnlineEvery one of us wishes to avoid embarrassing situations, especially when it comes to matters of money. Not having the exact cash to pay while collectively paying a bill, & then completely forgetting to payback your friend who paid the extra amount can end up looking pretty bad. So does mistakenly leaving your wallet at home when you have a huge bill to pay but no money in your pocket. That’s where money-transfer apps come into play and take the credit for saving your day!

App That Lets You Transfer Money Online

As incredible as these finance apps may seem, sending & receiving money is a somewhat sensitive matter & in a world full of evil-minded people it’s natural to be skeptical about the security of such apps. But there’s one app that can eliminate all these doubts in no small extent & provide you the perfect solution to avoid such awkward situations in future. Whether you want to repay all pending dues quickly or request an emergency transfer, the Cash app by Square, Inc. is the quickest solution for all your transactions!

Concept and Functionality

Square Cash App is a free mobile payment application that lets you send, receive or request money instantaneously from any of your contacts (friends & family) using a linked debit or credit card. The best thing about the app is that it lets you exchange money with everyone –even those who might not have a square cash account or the app, by simply exchanging your “Cashtags”, i.e., Cash App username that identifies your Cash app account.

It is straight-forward & efficient and uses a user-friendly interface meant to simplify & expedite money-transfer and avoid any trouble, along with offering many significant features. The app setup & money transfer procedure is easy and takes only a few seconds.

cash transfer app

To get started, you need to download the free app & go through a one-time setup. When you launch the app for the first time, you need to fill out your phone number & email address, and then complete your profile by creating a unique “$cashtag” that could be shared with others to exchange money with you.You also need to link your debit card details and chose to create an account for “personal use” so that you can use the app for free personal transactions.

The app feed keeps track of your transaction history, and the main screen features a considerable dollar sign with an amount in the middle of the screen & a number pad below it. At the bottom of the screen, you have two options: Requestor Pay. To send or receive money through the app, just enter the amount using the number pad, then select Pay or Request, and then add a name of the recipient from your contact list. Lastly, you tap the Pay/Request button on top-right & you are done. The recipient will get an email notification with a link to your $cashtag page where they’ll just have to enter their own debit card details to pay or receive money from you. Similarly, the process is very easy when you receive the money, and another advantage of the app is that you even have the option to deposit the received amount directly to your bank account or keep it in-app for future transactions.

In addition to being quick & easy, the Cash app incorporates several smart features that make it a versatile and most suitable money-transfer app.

Features

• Free to send money from your bank account to anyone in your contacts
• Doesn’t require the receiver of the money to have the app or square cash account
• Multiple methods of sending & receiving cash (via phone, PC & even snapchat)
• “Auto Cash Out” feature automatically transfers your Square Cash balance to your bank account
• The virtual credit card that lets you make purchases with the balance in your Square Cash account
• Simple & straight-forward- Quick & easy to use
• No extra fees for personal money transfers
• “instant deposit” feature lets you instantly deposit cash into your account for a fee
• 1% fee for instant withdrawals
• 3% fee, paid by the sender, for payments from a credit card

Last Verdict

Owing to its simplicity & usefulness, Cash app by Square looks like the perfect money-transfer app to ease daily payments & to bring all your money matters at your fingertips. Convenient & adequately secure, it is about as good as it gets.

*Availability: The free Square Cash app is available for Android via Google Play and for iOS via iTunes

 

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