What Is Cash App?
Formerly known as Square Cash, Cash App is a peer-to-peer mobile payment app founded by mobile payment platform Square in 2013. Cash App lets you send money to someone with just a phone number, email address, or $Cashtag (a unique Cash App ID). Other important things to know about Cash App:
Cash App is free to use for sending, receiving, and transferring money using a debit card or bank account. Credit card transfers will attract a 3% transaction fee.Cash App does not currently support international money transfers (domestic transfers only).Transfers are sent immediately and can be deposited to a domestic bank account same-day for a fee, or within one to three days for free.By default, you can send up to $250 within any 7-day period and receive up to $1,000 within any 30-day period. You can increase these limits, however.Payments are instant and generally can’t be canceled if you make an error.Cash App is available for iPhone and Android.
Currently, Cash App doesn’t support payments to international recipients. If you need to send international payments, considering using another payment service.
How Secure Is Cash App?
According to Cash App, any information you submit is encrypted and sent to their servers securely, both over Wi-Fi connections or data services. Cash App is also PCI Data Security Standard (PCI-DSS) Level 1 compliant. PCI-DSS is an industry-standard set up by the Payment Card Industry Security Standards Council to ensure that merchants adhere to a high level of security when processing credit cards electronically. While Cash App transactions are encrypted, you may also want to consider using a VPN (virtual private network) app when using financial services like Cash App over public Wi-Fi.
How to Set up Cash App on Your Smartphone
If you’re ready to give Cash App a try, here are the step-by-step instructions to set up the app on your smartphone and send your first payment. These instructions apply to both iPhone and Android.
How to Make a Payment Using Cash App
Once you’ve installed Cash App on your smartphone, it’s a straightforward matter to send money to someone. You need to have a payment method set up (if you haven’t set it up already), and you need to have the recipient’s phone number, email address, or $Cashtag. Download For:
Add a Payment Method to Cash App
If you haven’t set up a debit card or other type of funding source yet yet, you’ll need to do this before sending a payment. If you’ve already set up a debit card, skip this and go to the next section.
Send a Payment Using Cash App
Once you’ve set up your funding source, then you can begin sending payments. With a few quick taps, you’ll be sending money to your friends and family.
How to Cash Out Using Cash App
If you’ve received funds from Cash App, you can cash out through the app using your bank account. Here’s how to do it.
