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AFAIK, they all go via the ACH, so there shouldn't be any difference whichever bank(s) you use.

Square Cash works by using debit cards.

If John sends $100 to Jane, then John's statement shows a $100 charge made via his debit card. Jane's will show a $100 credit (as if she had returned something to a store).

Next day isn't bad, but recently I had a need to transfer something instantly.

My wife's bank charges her a big fat fee for overdrawing her account, but only if the balance is still negative at midnight.

Last Sunday my wife had miscalculated her balance, and used her debit card at a local supermarket. When she got home, she checked her balance and found out it was below 0.

This has happened once or twice before, and she just ran over to her bank and deposited some cash.

But as I wrote above, this most recent occurrence was on a Sunday, when her bank was closed.

I sent the email with Square Cash, and 30 seconds later her bank's website showed the deposit.

The other obvious benefit is not having to plan ahead when I want to pay a bill or otherwise use my money. I can simply transfer instantly, at will, among my different accounts.
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