Send money with Square Cash

Discussion in 'General Discussion | Miles/Points' started by viguera, Oct 15, 2013.  |  Print Topic

  1. viguera
    Original Member

    viguera Gold Member

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    Yet another "send money via email" setup...

    You basically use your regular email client, add "cash@square.com" on the cc: field and enter the amount as the subject, and Square takes care of the rest.

    The sender will receive an email with instructions on how to link a DEBIT card, and once the cash is sent the recipient receives instructions on how to transfer the money to their bank account, which supposedly takes "1-2 days"

    A couple of observations...

    The service supposedly only works with debit cards, so this will obviously be of use to those people that have mileage-earning debit cards.

    The whole process is "absolutely free" from what they say, although there's a $2,500 a week limit. Still, even with a card that earns 1 mile per $2, for free, it's miles that you might not wanna leave on the table. Sending "yourself" $2,500 / 1,250 miles a week is 65k miles a year after all...

    I've used Square Register for a while and their transfer times are actually very fast, although they do have a schedule that gets funky around the weekends.

    https://square.com/cash
     
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  2. gregm

    gregm Gold Member

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    What ever happened to sending a check?
     
  3. viguera
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    viguera Gold Member

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    Even if you use billpay, you run the risk of it being intercepted, and there's the inconvenience to the payee that they now have to wait for the mailman, take the check to the bank and deposit it -- although most banks allow check photo deposits nowadays.

    Regardless, I probably would never use this, unless I need to send someone some cash and they don't have paypal or any of the other dozen methods to send money electronically.

    But for some of us trying to grab a few miles here and there whenever we can, moving virtual money around and earning points/miles for it is the real appeal of something like this. You don't have to go to the store and buy gift cards then deposit / transfer or anything of the sort.
     
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  4. gregm

    gregm Gold Member

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    OMG, I forgot about the miles!! MY bad!
     
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  5. viguera
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    viguera Gold Member

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    You what?

    I'm sorry I'm drafting a petition to have you committed. :)
     
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  6. gregm

    gregm Gold Member

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    Momentary lapse...... My friends and family all know how to complete this sentence:

    It's all about the_________.

    (Miles and points!)
     
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  7. marcwint55

    marcwint55 Gold Member

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    If anyone has used this and received the miles, please post here. I would like to use it, but don't want to go through the motions if it does not work.

    thanks,
    Marc
     
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  8. viguera
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    viguera Gold Member

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    I have Square and a Delta debit card from SunTrust so I might try it. Unfortunately, they don't breakdown miles earned so it just shows up on your skymiles account as "SUNTRUST SKYMILES WORLD CARD - PURCHASES" and the amount of base miles.

    They also bundle the miles and they show up at the beginning of the following month, so I wouldn't be able to tell you if it actually worked until early November :)
     
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  9. schnitzel
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    schnitzel Gold Member

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    Did some test transfers last week to my wife and they landed in our Wells Fargo account the next day. Very impressive.

    Did another test and directed them to a small local bank - no sign of the funds three business days later. Both were cashed out via ACH and not debit card.

    I was sure the $$ would be in this morning, but nothing. And I do get other ACH deposits to this local account, so it's not like they don't post stuff. Not great so far.
     
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  10. viguera
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    viguera Gold Member

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    My experience with Square on the weekends has been funky, as I posted before. Their deposit schedule (according to their site) says that anything before 5pm PT on a Thursday would post on Friday, and everything after that (or during the weekend) would post Monday morning. Usually that's not the case for me though (at least not when using the Square Register app) and it takes an extra business day for stuff that's initiated after 5pm on Thursday -- usually posts on Tuesdays, and even then usually after 9AM.

    I'm not sure if this is the same setup they're using or this "Cash" app, but I wouldn't be surprised.
     

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