What are cash apps and what benefits do they have
They can work even if you don’t have a bank account
What are cash apps and what benefits do they have? Managing your money and bank accounts is easier with a cash app.
We went from cash to cards and now it is incredible that you can avoid long lines at bank branches to manage your money and carry out transactions from your cell phone. Cash apps help you in a simple way.
Although many institutions already have their own applications to perform various actions with their personal accounts, cash apps are usually more intuitive and easier to use when you have to carry out many types of transactions.
To start, you must link your debit or credit card to the application and allow it access to your bank account. After this step, you will be able to send and receive money to anyone without having to go to any branch.
If the person you are sending the money to does not have the app, they will receive a text message or email asking them to enter their bank account or debit card information in order to deposit their money. If you have the application like you, you can decide to leave it there for future transactions or withdraw and deposit the money to your personal bank account.
The most popular cash apps are:
1. Cash App
From the forerunners and popular applications on the market. The application is free and easy to use to send and receive money. You can add a credit card, even if that entails paying a fee to do so. Withdrawals take between one day to three to be made, although if you prefer to conclude it immediately, a 1% fee is charged so that you can have your money the same day.
The popularity of this app has been so far reaching that if you don’t have a bank account, you can request your Visa debit card for free from the Cash App application, which you can use at any establishment and ATM to dispose of your money. You can also check which establishments offer you discounts or rewards when paying from the application.
This application is available for iOS and Android systems.
2. Venmo
This application works in a similar way to the previous one, it is completely free and allows you to send and receive money without problem. For instant transfers, a fee must also be paid. It is also available for iOS from the App Store or Android on Google Play.
It should be noted that these cash apps do not allow you to send or transfer less than $ 1 and have a money limit to transfer or receive weekly.
You should not worry about the security of your information and your money, since these applications have a series of security filters such as fingerprint, facial recognition or password to restrict access to your account. They also have a data encryption system so that your information is safe.