Square Cash

Features

Features

Fees and Limits

Square Cash transactions are free for debit cards, but it charges 3% fee per transaction for credit cards or bank accounts users. Free transactions are limited to $2,500 a week after verifying your identity with name, date of birth, and the last four digits of your SSN. If you are running a small business, you can install Square Cash Pro which has no money amount limit but will charge 1.5 percent for debit card or bank account transactions.

$Cashtags

Every Square Cash user will receive a personal $Cashtag through which people can send money directly without asking for phone numbers or email addresses. $Cashtags provide the easiest way for non-Square Cash users to pay you.

Pros and Cons

Pros

• User-friendly design

• You can store some money in the Cash Drawer

• Several methods for sending and requesting money

• You can store some money in the Cash Drawer

• Perform simple payment tasks on Smart Apple Watch

Cons

• Charge fees per transaction for credit cards users

• Lower spending limits than competitors

• $Cashtags are not so attractive

Bottom Line

Square Cash offers the simplest money transferring option for family and friends, or to transfer money anonymously with the $Cashtag feature.