Now sending and receiving money is extremely easy, since just by pressing a button you can carry out the transaction using your mobile ph In the market there are countless applications (“cash apps”) that are responsible for electronically transferring money from one account to another. But is it really worth using these apps? Here I explain what are the advantages of “cash apps” and how you can use them effectively.
Sending money electronically
In order to send money to another account or person, you must link a debit or credit card to the application and allow access to your bank account. In this way, the application can withdraw money from your account and deposit it in another. So after linking your card, you can enter the amount of money you want to send and select a contact or person, to deposit the money in your account.
If the person to whom you are sending the money does not have the application, you will receive a text message or an email and you will be asked to enter your bank account or debit card information in order to deposit the money. On the other hand, if you have the application you can withdraw and deposit the money in your linked bank account or keep the money in the application for future transactions.
Maximum quantity you can send
On the other hand, most cash apps do not allow you to send or transfer less than $ 1 and generally have a money limit that you can send or transfer weekly.
Cash apps have become very popular as they are a convenient and easy way to send money. Also, they are completely free. Similarly, many applications like Cash App They offer discounts in restaurants and shops when you pay with the application.
On the other hand, in terms of security, most of the “cash apps” use the user’s fingerprint, facial recognition or a password to block and secure account information. Similarly, they use a data encryption system so that the information is secured.
Some of the most popular applications are:
1. Cash App
With Cash App you can transfer money to another bank account or debit card. The application is free to send and receive money. If you want to use a credit card you will have to pay a fee. On the other hand, you would have to pay a 1% fee for instant withdrawals. You can download Cash App in the App Store and in Google Play.
Venmo It allows you to send and receive money for free, although instant transfers usually have a fee. Shipping with your debit card is free, but if you use a credit card, there is a 0.03% fee on the transaction. In general, if you have money transferred to your Venmo account, the transfer could take a day. The Venmo app is available on the App Store and in Google Play.