Square Cash lets you send money by e-mail for free

Square Cash

Square launched a free service to let anyone send money for free via email on Tuesday.

The service, known as Square Cash, is currently available only in the United States.

Square Cash's service doesn't require either the person sending or receiving the money to have a Square account, and there are no fees involved.

The service is designed to work  via e-mail and through apps for  iOS and Android.

To send money, the sender simply sends an email to the recipient, with a CC: to cash@square.com, with the amount sent in the email's subject line. 

You can include any message in the body of the email.

To use the service, both sender and  recipient must have a debit card and link their e-mail address to a the debit card. After you send the email, Square will email you instructions link your email to your debit card.

The funds are deposited directly into the recipients' bank account and after sending money the first time you don't have to re-enter your debit card number for future transactions.

Users can send up to $2,500 per week and Square Cash's product manager Brian Grassadonia says Square is committed to providing the service for free.

Square's motivation is to create brand awareness and to get a leg up competing with other services such as PayPal