Now sending and receiving money is extremely easy, since just by pressing a button you can carry out the transaction using your mobile phone. In the market there are countless applications (“cash apps”) that are responsible for electronically transferring money from one account to another. But are these apps really worth using? Here I explain what are the advantages of “cash apps” and how you can use them effectively.
Sending money electronically
To be able to send money to another account or person, what you must do is link a debit or credit card to the application and allow access to your bank account. In this way, the application will be able to 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 you are sending the money to does not have the app, they will receive a text message or email and will be asked to enter their 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 amount 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 limit of money 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 apps like Cash App offer discounts at restaurants and stores when you pay with the app.
On the other hand, in terms of security, most “cash apps” use the user’s fingerprint, facial recognition or a password to block and secure account information. In the same way, they use a data encryption system so that the information is secured.
