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Author Topic: Square Cash App  (Read 101 times)
squatter
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November 20, 2017, 08:50:25 PM
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Does anyone around here use the Square Cash App? If so, could you share your experience? I guess it's like Venmo/Paypal, except they recently started a pilot program to buy/sell bitcoins within their app:
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Square announced it's piloting a program that would allow users to buy and sell bitcoin in its app. That could offer substantial revenue potential for Square, plus offer some much needed legitimacy for crypto assets.
https://www.thestreet.com/story/14396689/1/squares-bitcoin-play-could-offer-legitimacy-for-cryptocurrencies.html

Also, I'm curious if anyone knows the details regarding verification requirements?

It seems like originally, the service required users to set up a debit card / bank account. Since last year, you can keep a balance in your Cash App wallet instead of withdrawing directly to your bank.

Does anyone know if that means you don't need to set up any payment options (debit or credit card / bank account) at all? Can I just receive $$ to my Cash App wallet and pay it out to someone else? If so, I'm curious what the limits are before you need to verify identity. I can't find this information listed on their site like I can for Venmo...

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November 21, 2017, 10:58:26 AM
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I haven't used the Square Cash app, limited to US only, but there is information regarding verification and sending/receiving limits available on their website.

When you receive your first Square Cash payment, you’ll be asked to link a bank account or debit card, but guess no other verification.

If you want to keep some funds in your Cash app, you can cash out a custom amount or your can spend those funds right from your Cash prepaid card.

Square Cash personal accounts have sending and receiving limits.

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When you send more than $250 in one week, we’ll automatically ask you to verify your name, date of birth, and the last 4 digits of your SSN to increase the sending limit to $2,500 (in most states).

When you receive more than $1000 in 30 days, we’ll ask you to verify your name, date of birth, and last 4 digits of your SSN to increase the receiving limit to amounts over $1000 per 30 days (in most states).

https://squareup.com/help/us/en/article/5505-send-and-request-money-with-square-cash

https://squareup.com/help/us/en/article/5588-supported-cards-with-square-cash

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