As all the technology and services are getting modern day by day, so our payment system is. We all used to pay bills by standing in long lines. However, now we can pay bills, clear dues, using direct deposited, manage loans, recharge our phones using our smartphones. Thanks to mobile banking and financial apps, we are able to save our time by using these payment applications. One such app is Square cash app, which is a fantastic all in one app payment solution. It is designed for easy hassle-free payments, app investments, making direct deposits, and much more.
With more and more people prefer to use mobile banking application such as Square cash app, it is important to know the full features and potential of using these apps. Not only they save time, but they also offer you rewards, cashback, and shopping vouchers. This is a complete guide on the Square cash app and its amazing Direct deposit features. We will talk about the direct deposit feature and how it can help you financially, in full detail.
What is Square Cash App
Cash app is a payment app from Square; this app will allow you to access the details of the stimulus deposits along with direct payments. Due to the ongoing COVID-19 pandemic, Square has launched the cash app, though it has a direct deposit feature, it will be a very perfect solution for funds.
Square has made the Cash app very simple and convenient for people to use. You can get the account numbers directly via cash app to receive your deposit. It has a hashtag feature, which is a very convenient and easy hassle-free method to send and receive money. Moreover, you can buy, sell, and send Bitcoins in Cash app.
The company is helped by the US Government, so the users can get smooth stimulus payments experience, which means, unlike Paypal and AppStore, you don’t have to get an approval for the payments. TheCEO has mentioned that you don’t need your bank accounts to get the payments, which means you can just install the app and can get cash. The app is very beneficial for the people; it is a platform that will expand its business to a significant level. However, using the app not only benefits the company, but it also benefits the users as there are many free cash offers going on.
How to use the Square Cash app and its Deposit feature?
First of all, you have to set up your account after you have installed the app on your device. The Square cash app is relevantly new, so it is not available in many countries. If it is available in your country, then you can proceed to read the instructions below to know how to set up your account.
Setting up your Account
First, download the app from the Respective Playstore or Appstore. You can do so by searching for “Square cash app” in the search window.
Open the app; you will be seeing a welcome screen, type your phone number or email address, and then tap on the Next option on the bottom of the screen.
Step 2) Open your mail app or website and check for the mail from the Cash app. Copy the code and paste it on the cash app to verify your code. Or if you are using a phone number, then check your message from Cash app, just copy and paste it and tap on the Next option at the bottom.
Step 3) After you have verified your account, you will be asked to fill up your debit card details. However, it is not that necessary if you want you can fill the information then you will be asked to invite friends you can skip that as well, but if you invite your friends, you will get $5 free cash.
Lastly, you will be asked to type your hashtag, which you will be using, and you are done here. Your account is set up. Now you will see a green screen.
Requesting and Paying
Step 1) Type the amount you wanna request or pay to another user on the main green screen on the middle tab.
Step 2) Tap on the Request button or the Pay button, a new screen will ask you to enter the users’ information, type the hashtag or username, phone number or email address and continue.
Setting up your Bank Account in Cash app
Step 1) Click on the first tab on the left-most bottom corner of the screen.
Step 2) Tap on the option Add Bank and fill up your debit card information. However, if you don’t have a debit card, you can tap on the option don’t have a debit card and select your bank and login via your internet banking username and password.
After that you are done, your bank account is set up now. Any payment you will get will be directly deposited in your account.
To buy and sell Bitcoins, you just have to tap the on the second right tab on the bottom of the screen. There you can see the Buy and Sell button you can click on the buy button to buy bitcoins by using the money you have, and you can select the sell button to sell you bitcoins.
Even more, the tab shows the fluctuations of bitcoins value in a graph form.
Managing your Account
Step 1) Click on the right-most tab on the bottom of the screen. Here you will find your account tab. You can change the name, email, set up privacy settings, and much more.
Step 2) Click on the Personal option to edit your hashtags or to add more information about you like bank phone numbers etc.
Step 3) Click on the Privacy & Security option to optimize your privacy and security of the cash app by toggling various option that is available there.
If you are annoyed by Notification or if you wanna control the Notifications that you receive, then click on the Notification option to tweak the notifications of the cash app.
You can also invite your friends, add a photo to your profile and enter a referral code if you any here.
Using Deposit feature
the direct deposit feature if someone sends you the payment it will get directly deposited in your bank account. However, if you haven’t set up your bank account, then the cash will deposit on the cash app.
If you’re following the complete guide, then I’m sure you have added your bank account. Here are the steps to use the Square cash direct deposit feature.
Type the amount you have to pay to another user on the main green screen on the middle tab.
Tap on the Pay button; a new screen will ask you to enter the users’ information, type the hashtag or username, phone number, or email address and continue.
If the recipient account has done a complete bank setup, then he/she will get the money directly in his/her bank account through the direct deposit feature. If not, it will be saved in the wallet itself, and the recipient can withdraw it anytime.
Square Cash app is a great application for all your bank and financial needs. Not only it makes sending and receiving money easier, but you can also get a free debit card, buy and sell bitcoins, get rewards, send money directly to somebody’s bank account, and much more. Also, you can invest in multiple companies for little as 1$ amount.