I have to admit, I have never had a crush like this before. Warning, my geek side is on full display. Please don’t judge. My crush? It’s an APP! Yes, an app for your phone. I’m probably a little late to the party, but I have now discovered Square Cash. Cue the fireworks! This is different than “Square” that many businesses are using, and so much better and easier to use than Venmo or Paypal. I have been using Square Cash for just over 6 months, and it has easily become one of my top technology tools.
I must give some props to my husband who introduced it to me one night, as I kind of nodded and smiled and thought, “ok, that’s nice honey,” and went about my merry way. It just so happened that the next weekend, I was on a girls trip and we were all trying to split meals, and pay each other back for rental cars and the like. Enter Square Cash. I invited all of the girls and we were instantly set up and securely depositing money in each other’s bank accounts. On top of that, when you invite a friend, Square Cash gives you and your friend $5 when they use it, too. So, I probably made about $30 that weekend and did not have to follow up with everyone to pay me back. Genius!
Now, I know you want to know if it’s easy to use, safe, and how it can actually play out in your REAL life. It’s not like you are going on a girls trip every weekend. I did some research about the safety and feel as good as I can in this day and age in which we live. I used to be an uber security freak about stuff and realized there was always going to be a loop hole that some evil person would try to exploit, and I do not want to live my life in fear. (Target security breach in 2014, anyone?) So, we got some identity protection insurance several years ago and have gone about our lives with much more peace of mind. On top of that, the app has one of the most easy, intuitive, and simple interfaces I have ever used.
Here are my top 6 favorite uses for Square Cash in my everyday life:
- Splitting Restaurant Bills (Office lunch runs, too! Or Starbucks. Or Sonic.)
- Babysitters! (Seriously, this is a game changer!! No more having to have the perfect amount in cash or wondering which MONTH your babysitter will deposit your check. We also use it for our small group childcare each Wednesday night. No more having to make change for everyone when we chip in for sitters together, or track down the cash from the person who forgot to pay before they left. Just ‘Cash’ it!)
- Group Gifts (Wedding or baby showers anyone? Or splitting that birthday party gift for your child’s classmate.)
- Paying My Neighbor/Friend Back (For groceries or that cute dress they picked up for me. Thanks, Ang!)
- Group Activities (Concert tickets, Girl Scouts fee, school pizza party, supplies for craft night.)
- Sending A “Happy” To A Friend Or Loved One (My out of state sister-in-law just sent me $5 for a “Celebration Treat” when I launched this blog. I promptly pulled in to my favorite coffee shop for a vanilla chai and was definitely feeling the love. Thanks, Drea!)
By the way, I cannot even begin to think of how amazing this would be for a roommate situation! (splitting rent, bills, groceries, and household items.) Hook a single friend up with this info AND a cute date! Or what about instantly sending your newly relocated college student some money? No more logging into the bank and linking your account with theirs before a transfer can take place. You can also use this for your business with a few more stipulations.
So here’s the skinny on getting Square Cash all set up:
- Download the FREE app from iTunes (it works for Android too!)
- Be sure to use the following code to get your $5 once you use the app. You must enter this to get the $5: CMWVTRB
- Enter your name, phone number, basic info, and your DEBIT card info (you only have to enter this one time). Again, don’t forget the code CMWVTRB.
- Create a $Cashtag so people can easily find you. A $Cashtag is similar to your social media handle and I recommend using the same, if it is available. Don’t be cutesy about this and use your name if possible. You want people to know it is you, so you actually get paid.
- In your preferences, be sure to turn the “Security Lock” ON so that you have to enter the 3 digit CVV code from the back of your debit card each time as added security. I recommend memorizing this. It also prevents your kids from getting on your phone and sending money to who knows where. You may sign out of the app as added security and login each time. I use it so much that I don’t do this.
- To try it out and receive your $5 immediately, ‘pay’ $1 to your spouse or friend. They can then ‘pay’ it right back to you so they can try it out, too. Open the app and enter $1.00 and then ‘pay.’ You can enter your spouse’s/friend’s name, $Cashtag, email, or phone number. Put a memo in the ‘for‘ field if you like. Then hit ‘pay‘ at the top right of the screen. Of course, you can immediately turn around and ‘request’ your $1 back to keep cashing in on the fun. See what I did there? Seriously, try it out and get your $5 right now!
- After testing it out, you are ready to begin using it. Enter the amount of money and either ‘request‘ it from someone or ‘pay‘ it to someone. You can bill people on the spot or pay people back immediately. Be sure you enter the correct amount and double check that it is the correct person before sending it. You can always visit the Square Cash support center for further questions or for details about sending/receiving limits.
- Watch in amazement as the money deposits into your account and then become a big fan like me. For an added bonus, your bank statement will show SQC*($Cashtag) so you can actually see who you paid and vice versa. This makes keeping track of your expenses super easy. Additionally, you can download a CSV file from the web interface or see a history of your payments in the app (clock symbol in right hand corner.) By touching their name, you can see each payment including the memo of what it was for. Super helpful.
Does this help you? If so, please be sure to like and share with your friends! Let’s be a community of people that shares ideas, so we can help everyone feel more confident, focused, and productive in running their household.
Join The Conversation: Have you tried Square Cash? What do you think? Or, is there another app that you gush about? I may seriously need some validation after swooning over an app. You can leave a comment by clicking here.