Wednesday, October 16, 2013

How to Use Square Cash to Send Money by Email

Send money through Square Cash

TechCrunch reported this morning on the formal announcement of Square Cash, a service that allows you to send money through your email account.

This story caught my eye because only moments ago I had to find an ATM in order to pay my portion of a gift. I asked, halfheartedly, if they would accept a check, which would have saved me a trip across campus. Of course, the answer was "No!" Hey, I had to try, right?

As I write that, I can think of other examples where this service would have helped me recently. I have a friend in California who I needed to send some money to. We tried transferring funds from my bank to hers, but it was far too clunky and ended up requiring a bank visit.

For my carpool partners and I, asking them to simply simply email their monthly payments sounds much easier than what we previously discussed. I mean, who doesn't have a debit/credit card and an email account?

Think about it, you can send money from your smartphone, desktop, or tablet. Easy peasy!

How Does It Work?

Step 1

Create an email message that is addressed to the person you want to send money to. Make sure to Cc: and add the dollar amount that you wish to transfer, it can be either in the subject line or message body.

Step 2 

You will receive an email reply from Square asking you to link a debit card. You'll have to initially do this from a web page.

Step 3

The recipient will be emailed a link to easily deposit the cash into their bank account.

Send money through email

While you can do all of this from your email account, Square also offers a mobile application that you can download. Currently, there is an Android and iOS version.

What Else Should I Know?

Sounds simple enough, right? Well, there are a couple of things you should know.

  • It's FREE! There are no transaction fees.
  • It's secure. This service is powered by the same company that food trucks and other vendors use to swipe your debit card. It's made possible by Square, Inc.
  • The deposit usually happens within 1-2 business days.
  • The recipient has 14 days to enter their debit card and receive the money. A reminder will be sent out regularly just in case they forget.
For me, this sounds like a very handy and easy-to-use service. Try it out and let me know what about your experience.


Post a Comment

Damond L. Nollan, M.B.A.

Toll-free: (919) 912-9121
E-mail: Contact Me


Powered by Blogger.