

Square Cash 2.0 Adds Free Money Transfer by Text Message, Payment Notes and More - alphast0rm
http://techcrunch.com/2014/08/26/square-cash-2-0-adds-free-money-transfer-by-text-message-payment-notes-and-more/

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uptown
I know nobody that uses this. Even the free $1 they offered when it first
launched wasn't enough to convince me to link it to my bank account. Anybody
have a different experience?

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grmarcil
It's insanely easy to use and is one of my favorite apps. Splitting rent,
utilities, etc with a roommate, settling a debt with an out of town friend,
etc. Basically any time you write a check to another individual, Square Cash
turns that process (finding your checkbook, writing a check, mailing it,
opening the letter, endorsing the check, mailing/delivering to the recipients
bank) to opening the app, typing the amount, and pressing Send or Receive.

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lmartel
Everything you wrote could describe Venmo as well, which has been around for a
while and has a lot of traction (at least in my social groups).

Is there any reason you prefer Square Cash?

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jvm
The disadvantage with Venmo is you have to carry a Venmo balance and cash out.
Square sends straight from card to card.

Sort of related, the onboarding with Square Cash is easy enough (no bank
account numbers needed) that I feel less bad sending to someone who doesn't
already have it than I would with Venmo.

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cristinacordova
You actually don't need to carry a balance with Venmo to send funds to a
friend. If you have a balance of $0, you can send funds and Venmo will pull
the funds from your bank account.

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jvm
But you do carry a balance to receive funds, until you cash out. With Square
you receive funds directly into your bank account via your debit card.

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blutoot
This app has a UI flaw. My friend was testing how cash request works. Her
request arrived when I was already inside the app (just exploring it). And
without giving me even a warning it started the process of verifying my SSN
and all that. When the process was over, I had apparently given the green
light to transfer the money with no recourse possible. This is stupid and
frankly dangerous. I understand seamlessness has its prices but the workflow
should be adjusted to avoid large cash transfers without giving the person to
think about it.

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dilap
You wanted more confirmation before you _received_ the cash? I could go
deposit money in your bank-account w/o you knowing at all...

What's the potential for abuse?

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TheLoneWolfling
Among other things:

Person A wants to ruin person B's day. So person A plants rumors that person B
has been bribed, and gets some random shady person to send a reasonably large
amount to person B.

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radnor
There's a $250 weekly limit with new accounts, and if you want to send more
you must submit your name, date of birth, and the last 4 of your social. After
that it goes up to only $2,500, so I doubt random shady people will depositing
large amounts to anyone's account via Square Cash.

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webo
If Venmo wants to get back in the game, they need to support depositing money
to bank accounts via cards only just like SQC. The only reason I don't use
Venmo to receive money is because I don't want to provide my bank
account/routing number.

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pbreit
You mean the two numbers that are at the bottom of your checks? The ones you
freely give out to complete strangers?

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onedev
Honestly, Venmo just works better for me at this point.

