With online transfer rapidly picking pace, a lot of apps for money transfer have come into existence. One of the most successful ones is Cash App, with about 7 million users as of February 2018. Founded in October 2013, it is one of the most developed apps with the coolest features. This article talks about the must-know features that you need to know.
Two Way Transfer
This application allows the transfer of money from peer to peer. Along with that, it also accommodates transactions between the user and a retailer, and an ATM even. But debatably the most convenient feature is that of transfer of money from the bank to the application or vice versa. It gives you the convenience of not having to give out your bank account number to everyone and exchange money easily via mobile.
Locating people on the Cash App is relatively more comfortable than most other apps for transfer. It accommodates finding users based on three details: phone number, email address, and username. The last is a unique feature that this platform gives to each user when they join the platform. It is called a $cashtag, which makes transactions between strangers much easier with a kind of anonymity to maintain.
The Cash Card
Don’t get confused by the name; this is definitely a card. The app has a feature using which users can request this free Visa-certified debit card called Cash Card and use it at standard retail shops, ATMs, and even some food chains. Using this helps you keep your bank account from malicious activities and related involvement or even risk. It is free, simple, and legal, which makes it an exciting feature unique from most other transfer apps.
Every money transfer app comes with well called-for extra security, usually using a PIN. Similarly, this app lets you protect your data using a PIN or a fingerprint as well. This is taken into account and initialized while you are making your account. This option of changing the PIN exists so that in case of exposure of the same, you can reset it and protect your money. It is safely tucked under privacy and securities and uses your fingerprint for change.
Adding cards safely
When you are linking your account to a monetary exchange app, you are putting a lot of information out there that you may not necessarily want a stranger to get access to. Thus, security is of utmost importance in the scenario. With proper verification, you can add your debit card or link your bank account with the app, not having to worry about imposters or loss of information.
Sending money through credit card
Yes, Cash App also allows a transfer through your credit card. For the same, you need to have a bank account linked, though. After you have linked your bank account, you can go to the ‘add bank’ option like in the case of adding a debit card and click on the ‘no card?’ button. Proceed to link your credit card, but to transfer money, some charges will be levied.
Increasing transaction limit
The limit for users for sending payments is $250 per week, and receiving is $1000 per month. There is an exciting feature that can increase this limit and allow for a more comfortable experience of transactions. For this, you need to verify yourself by giving your full legal name, the last four digits of your SSN, and your date of birth. This way, you unlock the sending limit of $7500 per week and lift your limit from receiving.
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