Square Cash: Send/Request Money Via Debit Card For Free + $1 Carrot

Square Cash: Send/Request Money Via Debit Card For Free + $1 Carrot

via My Money Blog:

Square, known for helping people accept credit cards with smartphones, has expanded another feature called Square Cash. Yes, it’s yet another attempt at simplifying person-to-person payments, but this time all you need is e-mail and a debit card number. No accounts to open, no passwords to remember, and no fees either.

To request money, just send an e-mail with the following fields:

To: [one or more email addresses]

Cc: request@square.com

Subject: You can write whatever but include $ [amount]

To send money, just send an e-mail with the following fields:

To: [one or more email addresses]

Cc: cash@square.com

Subject: $ [amount]

That’s it, the Square website walks people through the rest. I found it pretty interesting that you can both deposit and withdraw money via debit card. If this stays fee-free then I could actually see myself using this between friends and family. iPhone/Android app also available, but not necessary (it just helps you compose the e-mail).

Right now, Square Cash will give you $1 to try it out. Your debit card number will then be associated with the e-mail address you provided from then on for future payments (unless you change it).