Square Monday announced a new feature to its mobile person-to-person app Sqaure Cash that enables users to store funds in an optional "cash drawer" in oder to keep a balance in the account.

Square said in a blog post when the cash drawer feature is turned on, users "can keep all the payments they’ve received in one secure place and deduct from that stash to make payments."

"Anyone can access all funds in their cash drawer immediately by selecting the Cash Out button, instantly transferring the stored funds directly to their bank account," Square wrote in the blog post.