Last year, VenMo, which allows users to pay back their friends for casual expenses was one of our featured apps on The College Juice. Now that it’s 2015, however, we’ve found some stiff competition. In our quest to bring you the most exciting and #DownloadWorthy apps, we introduce to you….Square Cash.
Square Cash allows users to send, request, and receive money from their friends’ debit cards for absolutely no fee at any time in the process. Users without an account are allowed to transfer a maximum of $250 per week, while verified users who have linked their Facebook accounts are allowed to transfer a maximum of $2,500 per week…that’s some big money! Direct deposits into users’ bank accounts happen within 1-2 business days. Users can also transfer money via email unlike with Venmo. And when users refer five of their friends to sign up for the app, each user receives $25. Free money? Yes, please!
Square Cash is perfect for those big group dinners we all love (love?) so much. You know…the ones that are deliciously fun until the bill shows up. Then, it becomes a mad scramble determining who can and cannot do the math, who is paying with cards and cash, and figuring out who tried to skip out on a tip (there is always someone). This is where Square Cash comes in handy – it helps settle the bill without worrying about transfer fees or navigating complicated interfaces. It is quickly becoming serious competition for other apps in the industry and may soon overtake VenMo in its popularity and user base.
For any of you entrepreneurial types that have toyed with the idea of starting a small business, Square Cash PRO allows you to use it as a form of accepting payment with a low 1.5% transaction fee. Ready to start an on-campus lemonade stand yet!?
Written by Guest Blogger, Dan H. of Emerson College
So, which app do you prefer? Let us know in the comments if you’ve used either app. Or, share your thoughts with us @BNCollege!