What is the Cash App and How Do I Use it?

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The Cash application offers an easy way to send money to friends and businesses, as well as buy cryptocurrencies directly from your phone or tablet. This is what it is and how it works.

The Cash app is one of the most popular properties on the App Store and Google Play. It offers a quick and easy way to send, spend and save money, and also buy cryptocurrencies using your mobile device. Customers can also get a free cash card that works like other debit cards. Here is more information about cash.

Get to know the Cash application

Like Come on before, Square & # 39; s Cash App is an ideal mobile payment application for millennials or anyone else who prefers not to carry bills (or coins) as if it were 1985. Instead, peer payments are completed using a mobile application. Unlike similar products, Cash allows you to receive direct deposit payments into your bank account. You can also buy and sell Bitcoin through the application.

Sending and requesting money

To get started, download the Cash application on your iOS or Android device. Then, you must enter your mobile phone number or email to create a unique username that the company calls "$ Cashtag".

Choosing a $ Cashtag automatically creates a URL that can be shared (https://cash.app/$yourcashtag) where friends, family and customers can make payments privately and securely.

From there, you will be asked to link your bank account or debit card information. Honestly, the setup is that simple.

To send cash:

  1. Touch the sign $ at the bottom of the application.
  2. Enter the amount to send
  3. Choose Pay .
  4. Next to Para, add $ Cashtag, SMS or user email .
  5. Next to Para, enter the reason for the money.
  6. Finally, touch Pay .

  Cash application send money

By default, money to send will come out of your cash balance. Otherwise, you will select your non-Cash debit card.

If your recipient doesn't use Cash, that's fine. They will receive a text message or email when they receive a payment. From there, they must enter the information of a bank account or debit card to receive the cash.

Asking someone for money works very similarly to sending cash. To request payment:

  1. Touch the $ sign at the bottom of the application.
  2. Enter the amount to send
  3. Choose Application .
  4. Next to Para, add the $ Cashtag, SMS or email .
  5. Next to Para, enter the reason for the request.
  6. Finally, touch Application .

  Cash application request

Make payments by scanning

The Cash application also offers a scanning option that allows customers in the same location Send or receive money.

  1. Touch the sign $ at the bottom of the application.
  2. Choose the scan icon in the upper left
  3. To request money, show the person their unique label or touch Scan so they can use the camera of their mobile device to scan their unique label .

What is the cash card?

There are times when it is still necessary to go to the old school ry, and that is where the Cash Card comes in. The free Visa debit card allows you to pay for goods and services in the balance of your Cash application. You are not connected to your bank account or your debit card other than Cash. Compatible with Apple Pay and Google Pay, the Cash card is available in white or black. You can personalize your card by adding a signature or what is best described as doodle art on the front. Yes, it's a trick, but it's fine.

You must be 18 years or older to request a cash card. Cards must arrive within 10 business days.

 Cash Card Black

Get a Boost

With Cash Boost, you will receive an instant refund for purchases made with the Cash Card. To do so, select from the list of retailers that offer a cash display application before making a purchase. At the time of writing this article, Panera, Five Guys, Whole Foods and other retailers offer Boosts. You can only use one Boost at a time, and they can only be exchanged every 24 hours.

 Cash App Boost

Bitcoin

If you're curious to buy and sell a cryptocurrency, but thought it was a complicated process, the Cash application has come to the rescue. With the application, you can enter the game quickly and simply by buying and selling bitcoins.

The first of the many cryptocurrencies now available, bitcoin creates, retains and transfers value based on equations and codes that ensure transactions can only be completed once.

To deposit bitcoin in your Cash application:

  1. Touch the Balance tab in the application.
  2. Select Bitcoin .
  3. Choose Deposit Bitcoin .
  4. Scan, copy or share your Bitcoin address of the cash application with an external wallet.
  5. Finally, confirm with your PIN or Touch ID cash application.

The Cash application has a deposit limit of $ 10,000 in bitcoin for seven days.

Direct deposit

Yes, you can get rid of your traditional bank and send your direct debit to the Cash application. By doing so, you can send or spend money from your paycheck using the Cash application or the Cash card. To get started:

  1. Tap the Balance tab in the Cash application.
  2. Select Cash .
  3. Scroll down and select Direct deposit .
  4. Touch Get account number .
  5. Select Enable account .
  6. Finally, turn in the routing of the cash application and account numbers to your employer's payroll department.

Note: You need an activated cash card to allow direct deposits. At this time, cannot use his route and account numbers to pay bills, although it is a feature that could eventually be added.

Rates

The current rates for using the Cash application are as follows:

For new account holders, you can send up to $ 250 within seven days and receive up to $ 1,000 within 30 days. To increase these limits, you must confirm your identity. Once verified, the shipping limit increases to $ 2,500 per week; There is no limit on the amount of cash you can receive.

Beyond this, there is never a fee for sending money to your cash application balance when you use your bank account. However, instant transfers from your debit card cost 1.5 percent of your transaction.

ATM withdrawal limits are $ 250 per transaction, $ 1,000 in 24 hours, $ 1,000 in seven days and $ 1,250 in 30 days.

Cash Cards work at any ATM, with a $ 2 fee charged by the Cash application. Most ATMs will charge an additional fee for using the card. The Cash application reimburses these fees when establishing direct deposits.

Limited appeal?

If you are looking for a fast and secure way to send and receive money between family and friends, it is worth considering the Cash application. However, you would not use the Cash application as your daily bank, at least not yet. Without the bill payment functionality for direct deposit, the Cash application is not ready for primetime. It will be interesting to see how the service evolves in the future.

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