For those of you who don’t know, Square Cash is a popular app that allows users to send and receive money with just a few taps on their smartphone. One of the features that sets Square Cash apart from other similar apps is the ability to add your Social Security number (SSN) to your profile. But what exactly happens when you add your SSN to Square Cash? Let’s take a look.
When you add your SSN to Square Cash, you are essentially extending a line of credit to yourself. This means that if you ever need to withdraw cash from your account, you can do so without having to go through a bank or other financial institution. The downside of this, of course, is that if you lose your phone or have it stolen, someone could potentially access your account and withdraw money without your permission.
Another thing to keep in mind is that adding your SSN to Square Cash may make it easier for someone to commit identity theft. If someone were to gain access to your Square Cash account and also happened to have your SSN, they could use that information to open new accounts in your name and rack up debt in a hurry. So while adding your SSN may be convenient, it’s important to weigh the risks before deciding if it’s right for you.
Conclusion:
Adding your SSN to Square Cash can be a convenient way to access cash without going through a bank or other financial institution. However, there are some risks associated with doing so, such as identity theft. Before adding your SSN, be sure to weigh the pros and cons carefully to decide if it’s right for you.
