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There are plenty of ways to send money to family and friends, but few of these services make it easy to do. The folks at Square have come up with a new way to do it, and using an app is actually a secondary option.
Square announced Tuesday the debut of Square Cash, a new service that allows customers to move cash between debit cards using only an email — all without signing up, logging in or even paying fees.
Unlike popular methods such as PayPal, Square Cash doesn't involve storing money in a separate account. Funds are moved from one U.S. debit card to another using any e-mail account simply by CC'ing firstname.lastname@example.org and putting a dollar amount in the subject field.
While Square Cash doesn't require an app, the company created one anyway for both iPhone and Android, which further streamlines the process. Type in the amount you want to send, and the app creates the email. Select a contact, hit Send and the process begins.
Square Cash payments show up in the recipient's bank account within one to two business days and users can transfer up to $250 per week. That amount increases to $2,500 per week after a one-time confirmation process, which can be done with a Facebook account or other credentials such as full name, date of birth and last four digits of a Social Security number.
Square Cash is now available from the App Store, with additional information available from the company's website.
Follow this article’s author, J.R. Bookwalter on Twitter