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  Square Cash

Square Cash

in Money Transfer Services from Square Inc

Unaffiliated

Square Cash

Unaffiliated

in Money Transfer Services from Square Inc

SuperMoney Net Recommendation Score +50

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

4 users recommend
1 user is unsure
1 user doesn't recommend
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Highlights
Community Rating Strongly recommended
Minimum Transfer $25
Transfer Speed (days) 0 days
Processing Fee Range ($) $0
Processing Commission 0%
Number of Reviews 6

Square Cash Review

Square Cash is a peer-to-peer, or P2P, payment platform based in San Francisco, CA. It was founded in 2009 and offers money transfers to multiple countries.

Square Cash FAQ

What money transfer methods does Square Cash support?

Square Cash allows you to send money to the following destinations:

  • Personal transfers without the need of a bank account

How long does it take for the money transfer to arrive with Square Cash?

Typically, money transfers will take 0 day to arrive. However, this may vary depending on the amount, currency, and destination.

How much money can you send with Square Cash?

Square Cash does not have a minimum transfer amount.

The maximum amount you can send per transfer is $10,000.

What fees and commissions does Square Cash charge?

  • Square Cash offers free peer to peer (P2P) money transactions. However, you may have to pay a fee if you use certain payment options, such as a credit card, or if you exceed their transaction amount limits. Click here for more details.
  • Square Cash does not charge a flat processing fee.
  • There isn't a processing commission fee.
  • Square Cash does not charge a currency exchange fee. Instead, Square Cash makes a profit from the spread between the buy and sell price of the currency you purchase. Compare the exchange rates offered by money transfer services as well as fees when calculating the total cost of the transaction.
Square Cash Fees
Description
Processing Fee Range ($) $0
Processing Commission 0%
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Contact

  • Headquarters
  •   1455 Market St STE 600
    San Francisco, CA 94103
  •   Visit Site

Other Services by Square Inc

Message From Our Editor

What We Love About Square Cash

Square Cash is an application that lets people easily make person-to-person money transfers. The app is similar to others in the market, like Venmo. However, some things help set Square Cash apart and make it a great solution for many people today. For starters, it is simple to use. It also happens to be free, which is always nice. You won’t even need to set up a username or password when you create an account. You also will not need the recipient’s bank account number. You can pay using their mobile number, email, or $Cashtag.

We love that it is free and easy to use. Bluetooth lets you find nearby payees. You can easily cancel payments if needed, and it will automatically deposit money into your bank account.

Square Cash Could Do Better

As great as we think Square Cash is, there are some drawbacks to it and things that they could do better. As of right now, there’s no support for credit card accounts. It doesn’t work at points of sale or in web stores. It’s only available in the United States, as well. We also feel that they could increase the daily and weekly payment limits, as they are quite low currently. Other than that, there’s a lot to enjoy, and the evolution of Square Cash could prove important.

Square Cash Backstory

Square Cash was launched in October of 2013 by Jim McKelvey (Square Inc. co-founder) and Jack Dorsey (Twitter co-founder). The goal was to create a simple to use the app for money transfers, and they succeeded. It doesn’t have quite as much name recognition as some other options like Venmo, though.

The Verdict

There’s nothing wrong with Square Cash, and it can be a simple and useful way for friends and family to transfer small amounts of money to one another. When you need to transfer larger amounts of money, you will likely choose a different option. It’s easy to set up, too, which means even if someone doesn’t have the app when you’re trying to send money, it will only take them a matter of minutes to get started.

Feature Breakdown

Processing Fee Range ($) $0
Processing Commission 0%
Maximum Amount to Transfer $10,000
Mobile Transfer
Payment Options
  • Credit/Debit Card
  • Bank Transfer
Transfer Speed 0 days
Transfer Methods Personal

Square Cash Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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