Square Cash and other simple ways to transfer money via email

There's a new way to send money via email, it's called Square Cash.

It comes from Square, the company started by Twitter co-founder Jack Dorsey. Square has been operating in some retail stores as a payment processor.

Now it's offering a money sending service.

It’s really simple. You just compose an email to someone, type the amount you want to pay in the subject line, and cc: cash@square.com

If it’s your first time using the service, you’ll be directed to Square’s website to enter your debit card number.  The money goes to your friend’s debit account, and all transactions are free.

There’s an app for iOS and Android, but all the app does is basically facilitate sending an email.

There’s a $250 a week limit, but if you verify your identity, either with your Facebook account or the last four of your social security number, you can sent up to $2,500 a week.

Google Wallet also offers a way to pay via email. You send money as an attachment. Transfers are free from your bank account or your Google Wallet account, but debit cards incur a 2.9% fee, making Square much cheaper for debit transactions.

Of course, the big concern with email money transfers is security.  While Square and Google both insist their services are secure, it just takes a couple of big headlines about someone’s email being used to transfer thousands of dollars to a Nigerian price to scare consumers off of the technology.  

But for now, the reaction has been pretty positive.  

Have you tried either service?  Would you?  Let us know in the comments below.

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