Cash In On These Money Transferring Apps

Many students use apps such as Venmo to easily send their friends money. Photo by Lauren Finan/Spectrum.
Many students use apps such as Venmo to easily send their friends money. Photo by Lauren Finan/Spectrum.

By Christina Dimauro

Asst. Features Editor

Money transferring apps allow for banking transactions to be done right on your smartphone between friends or co-workers. There are a variety of apps that allow for these quick money transfers to made.

Venmo, a money transferring app, sends money to someone when you link your bank account or debit card to the account. Square Cash is available for both personal and business use; even people without accounts can make transactions. Snapchat also has the Snapcash feature that allows users to send money through the chat to their friends.

“The transactions are a lot quicker and less time consuming than going to the bank,” said junior Alex Faccenda.

Money transferring apps continue to be on the rise amongst Sacred Heart University students. Some students use these apps to pay monthly bills or exchange money with friends when cash is not readily available.

The apps are seamless and not challenging to use. After making an account and linking your card or bank account, it is a simple to send someone any amount of money with the push of a button.

When making a transaction, a space for messages is included so both the sender and receiver know what the money is being sent for.

“I only know about Venmo and not the others,” said junior Ryan Cosner.

These apps are making it accessible for people to split dinner or even send birthday gifts.

“I enjoy Venmo because it makes it easier to make transactions. You don’t always need to carry cash on you,” said Cosner.

These apps provide people with certain abilities that they did not have access to in the past. They have transformed person-to-person transactions by allowing users to turn these transactions into experiences.

“Venmo, along with the rest of the apps have completely changed the game,” said sophomore Dylan Bartel.

There are also other features to these money transferring apps. Venmo can be linked to your Facebook account. You are required to link your cell phone number so you can connect with as many of you friends as possible.

Square Cash gives each user a unique cashtag to share with friends and family to send money to the account.

Snapcash is within the Snapchat app and allows for you to send money to anyone you are friends with on the app.

“Based on the success of these apps, I feel that if technology continues to grow at this pace, we will be able to buy cars and house by just one click of a button,” said Cosner.

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