Square tonight launched a new free money sending service called Square Cash. It allows anyone to send or receive money via email. Senders just link their accounts to their debit card and will be able to send money securely via the web or the companion iOS app, as easy as sending an email.
Send money to anyone with an email address. It’s fast, safe, and free!
No account needed. Just securely link your debit card to start sending money. It’s free to send, and free to receive money directly to your U.S. bank account.
Secure. Your financial information is entered through a secure connection and kept private. You can confirm or reject any transfer.
Fast. Money automatically deposits to your bank account within 1-2 business days.
The service looks to take direct aim at PayPal however there are limitations, as weekly sending limits are at $2,500. Plus, the service is currently only available in the USA. But what about Square Cash for Canada?
Square Says New Service Only Available in the USA
We reached out to Square to ask whether the service will be available in Canada in the near future, but all a spokeswoman could tell us was “Square Cash is currently only available in the U.S. at this time.”
Canadians should not lose hope entirely, as Square launched in Canada just under a year ago and has seen a higher adoption rate and average transactions compared to the US launch. Again, waiting for the latest tech has become a trait of being Canadian and I’m sure a lot us won’t lose sleep over this.
Click here to download Square Cash for iOS, it’s free (and requires a US iTunes Account).