The future, apparently, has not quite yet arrived.
Square Cash promises to be the easy way to transfer money over the Internet. To send you $50, I just send you an email with subject line “$50″ and a cc: to firstname.lastname@example.org — whereupon Square Cash, upon receiving the cc:, moves $50 from my bank account to yours. (First time users get an email from Square asking for their debit card numbers so the transfer can be accomplished.) Sounds like the easiest thing in the world. And it’s free.
Unfortunately, it’s worth about what you pay for it. My experience using Square Cash multiple times over the past several days indicates that, more often than not, Square transfers $50 one direction — and then a few hours later transfers it back in the opposite direction, so that on balance, no money changes hands. When this happens, you get an email from Square saying the reverse transaction was triggered by a “problem”. No further explanation.
Emails to Square are met with standard Customer Service gobbledygook that ignores key questions such as “Why is this happening?” and “What can I do to make it stop happening?” and “Going forward, can I count on it to stop happening?”. (It’s just happened yet again, so apparently the answer to the last question is “No”.)
One feels a little churlish complaining about the quality of a free service. On the other hand, I’d like to spare others the frustrating experience of dealing with Square, never knowing when a transaction is going to be permanent, and getting no useful answers from the powers that be. (All communication is by email; Square is apparently too advanced a company to use phones.)
My advice: These guys are amateurs. Stick with Paypal.