Square has updated its Cash app, allowing users to store money within a Cash Drawer. Cash Drawer is a place for you to save money you receive from other users or to store cash that you’ve added from your own bank account. Two users with Cash Drawer enabled can send money from drawer to drawer, rather than going directly from one bank account to another.
The addition will make the app more useful to merchants who prefer to maintain a cash balance in their accounts, like PayPal. Using the Cash Drawer is optional and you can toggle it on/off. To enable the Cash Drawer, there’s a toggle switch in the app you can tap that will then direct Square Cash to keep all your incoming funds “in Cash.” To withdraw your Cash balance, tap on the Cash Out button when viewing your Cash Drawer balance. This addition was announced on Twitter.
🚀 LAUNCH! Now you can keep some money in the app, and cash out instantly whenever you want. Check it out! pic.twitter.com/l815tYAaXf
— Cash App (@CashApp) February 29, 2016
