Grab Your Opportunity: $750 Awaits in Your Cash App Account!



Chance to win a $750 cash app account!



What Is Cash App? Cash App is a mobile app-focused money transfer service. You can send and receive funds directly and quickly, like you could with PayPal or Venmo. But Cash App features a few other functions as well. Aside from transferring money, Cash App will provide you with a bank account and a debit card, which you can use at any ATM. You can even invest in stocks and Bitcoin through the app. Some of these services are free, while others require a fee. There’s a major downside here though: your Cash App balance is not FDIC-insured. That’s protection for your money, so there’s no guarantee that you’ll get your money back if something goes wrong. Cash App has been around since 2013. It was originally called Square Cash, in reference to Square Inc., Cash App’s parent company. Square Inc. was co-founded by Jack Dorsey of Twitter. How to Sign Up for Cash App You can sign up for a Cash App account quickly. All you need for an account is your name, ZIP code, and either an email or phone number. You don’t need to link your bank account to open a Cash App account, but will need to do it eventually to use most of the app’s features.

How To Send and Receive Money Cash App’s user interface is incredibly simple, which makes sending and receiving money easy. To send money, you’ll find the receiving person via their name, phone number, or $Cashtag in the app. You send the cash, then the person you’re sending to will receive an email or text alert. The recipient chooses how fast the transfer goes through. To receive money, you can send a request for payment. The request can be sent via the person’s name, $Cashtag, email, or phone number. The app will notify you once payment has been made, and then you choose how fast you get the money. Cash App gives you the option to deposit money you receive in your bank account or your linked debit card. The cash deposits into your debit card instantly, but it can take up to 3 days for a deposit to hit your account. However, both of these deposits are free. If you would like an instant deposit to your account, the deposit is subject to a 1.5 percent fee of the total amount, with a $0.25 minimum fee. Cash Limits You can send up to $250 within a 7-day period, and receive up to $1,000 within a 30-day period. If you want to increase your sending and receiving limits, you’ll have to further verify your identity on the service. To fully verify your identity, Cash App asks for your full name, birthday, and the last 4 digits of your Social Security number. You can open an account with no minimum balance, and Cash App doesn’t advertise the maximum balance your account can have. The minimum amount you can send and receive is $1. There is no service charge or monthly fee for having a Cash App balance.




How Secure Is Cash App? “Cash App uses PCI-DSS, the same protocol used by major credit card companies. Payments are encrypted on both ends. It is no less secure than using a credit card,” says Farah Sattar, computer engineer and founder of DCRYPTD. Despite the solid security, remember your Cash App balance is not FDIC-insured. This is definitely a strike against the service and something to keep in mind when you open an account. Cash App also allows you to invest in stocks and Bitcoin. If you use Cash App for investing purposes, this might amplify your concerns. Cash App is a registered broker-dealer, member FINRA and SIPC. “Cash App might make sense for a new investor seeking to get started,” says Ryan Shuchman, investment advisor and partner at Cornerstone Financial Services. However, Shuchman notes that Cash App also comes with drawbacks for investors. “The platform doesn’t offer mutual funds. You also can’t trade options or some other advanced investment products. Cash App has very limited analytics and research features. It is probably not an appropriate platform for larger and more sophisticated investors,” says Shuchman.



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