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Happy Money Monday!

This week, I’m keeping it short and simple, with an app that was designed to be just that. Cash App by Block Inc. (formerly known as Square Inc.) is one of the most popular money transfer services in the United States.

Cash App was originally designed as a concept where just having your phone number or email address connected to a debit card would allow you to send and request money from friends and family. This helped it become a major competitor to the other leading services (which I’ll talk about later down the line). It has long since expanded it’s feature set to include direct deposits, savings accounts, and even crypto trading. While it is a Fintech, your balances are still backed by actual banks and are thus FDIC Insured.

The service is a dependable solution for sending and receiving money quickly, like handing cash to someone and not waiting for a check to clear. You can have transactions with people using their phone number or email address, or better yet, dedicated “Cash Tag” usernames for the users you are exchanging with. It’s pretty common to see Cash Tags for payments for quick transactions in the real world, such as charities or at a bake sale, and helps ensure you are sending your money to the right place.

Cash App is owned by the company behind Square, a reputable payment processor that became popular with it’s “square” credit card point-of-sale readers that connected to headphone jacks of smartphones. These days, payments at Square-enabled restaurants and other businesses can even tie-in royalty rewards directly to your Cash App account. While it’s usual for businesses to use Square for goods and services transactions, some vendors might use the Business mode of Cash App, which is separate from the more complex Square platform.

It’s important to note that you need to always be vigilant with your financial transactions. There’s many scams designed around targeting various money transfer services because payments are typically instant and can drain your wallet if you aren’t paying attention.

Information on the Cash App referral:
If you download Cash App, create an account and use the referral code LVLNSKT and then send $5 to someone within 14 days, you will receive a $5 bonus.