Posted by William Charles on June 30, 2016
Deals

Published on June 30th, 2016 | by William Charles

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Circle Pay Review – Send & Receive Money Without Fees (No Charge For Debit Cards) W/ $10 Sign Up Bonus

What Is Circle Pay?

Circle Pay is a website/app that allows it’s users to send money to other users. When they first launched, all transactions were tied to Bitcoin but this is no longer the case (you can now send traditional fiat currency like USD). You can link a bank account, debit card or credit card to you account and send/withdraw cash from there. Circle doesn’t charge any fees for these payments, although credit cards are run as a cash advance.

Because there are no fees for debit cards, it can be useful for meeting debit card transactions (something that a lot of bank account bonuses require).

[Read: How To Meet Minimum Debit & Credit Transaction Requirements]

What Cards Are Supported?

This page gives a nice explanation of what cards are accepted. Basically all U.S issued Visa & Mastercard debit cards will work (credit cards will also work but are run as a cash advance). All American Express cards, gift cards, netspend cards & paypal accounts don’t work.

Referral Program

They have a referral program, you can refer up to 100 people. If you use a referral code, you’ll receive a $10 credit after you sign up, link a debit card and send at least $25. The person who refers you will also receive a $10 bonus. Here is how to find your referral code:

  • Go to Friends > Invite Friends

Apparently not everybody can invite people at the moment. You can share your referral codes in this linked page, please do not share them in the comments below as we are keeping those for questions/comments/reviews from readers. More information about their referral program can be found here.

I contacted Circle to see if they’d be interested in giving readers a higher sign up bonus with no referral commissions, but they never got back to us.

Our Verdict

Seems like a pretty good way to rack up debit card transactions and also score a $10 sign up bonus, how useful the actual service is largely depends on if you’re friends are also using it or not. I like the fact that I can just easily text message friends money, but it only works if we’re all on the same platform. Let me know your thoughts on Circle Pay in the comments below.

Hat tip to reader Don



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joE
joE

What is the most popular platform today for P2P payments?

MinSpend
MinSpend

Venmo

Eric
Eric

Does Venmo charge a fee?

Chuck

Not for debit, yes for credit

Eric
Eric

Is Venmo known to shut down accounts that do several small transfers per month? Does the recipient need to have a Venmo account too?

Chuck

Several a month should be fine. Recipient needs a Venmo.

Miguel
Miguel

My friends and family and I use both PayPal and Square Cash

Alex

Square Cash is ridiculously easy to use and fast. There’s no complicated steps to send/receive money from people.

So I’m not sure what the benefits are for this new Circle Pay? Anyone have any thoughts on this?

Miguel
Miguel

Easiest way to send and receive bitcoin is their biggest feature.

Alex

Well then I guess Square Cash remains my top app for P2P.

jeff
jeff

Referral page link is 404.

NinjaX
NinjaX

Just know that its still tied to the blockchain and its heavily regulated more than a normal bank which is unfair. just be careful with your debit transactions. FinCEN is all over it.

Anonymous
Anonymous

What do you mean? Is it illegal or something to meet minimum debit card transactions this way?

Josh
Josh

Might be a better way to pull money from Visa Buxx.

I see Visa and MasterCard gift cards are out. I don’t suppose anyone has actually tried to test the limit?

James
James

Tried it way back. No luck then.

Daniel
Daniel

YOu mean visa buxx or gift cards?

James
James

Buxx

Don L

Will, I think the linked page is down – 404 Not Found Error

Chuck

I fixed that, but the comments on the page aren’t working for some reason. Hopefully, Will will be able to fix that soon.

Miguel
Miguel

The linked referral page isn’t working for me. 404s.

GM
GM

Great guide. Thanks for putting it together.

What is the minimum amount you can send?

Don L

Not sure.
– I was able to send $0.50 from my Circle Balance
– Got an error trying to send $0.25 from my debit card
– I’ve definitely been able to send $1 from my debit card in the past

Dan
Dan

Square Cash seems much more useful (for actual person to person transfers) since it goes direct to bank account

Miguel
Miguel

I hope square cash stays free and fast and sticks around forever.

Don L

Agreed. I hope Circle stays free and sticks around forever too.

Eric
Eric

Are you able to send Square Cash to yourself? How many $.50 transfers do you do per month?

Michael
Michael

Referral congo link throws a 404. Please advise

Tim
Tim

Any data points on how long it takes to get paid? I just invited a friend and he sent me $25 from his debit card that I then sent back. Want to make sure that won’t cause any issues — we both haven’t been paid out yet.

Don L

Something must be a little off – the credit generally posts instantly on the send

In the app, invite friends screen – did you have the “Get $10 for every friend who signs up and sends $25+”.

I don’t believe everywhere gets targeted with the $10 credits to give.

Michael
Michael

Just a heads up for others.

Signed myself and DW up for $10 referral bonus. Everything went fine, until I got an account review shortly after signing up by bank account for funding.

Got review email from Circle and they said in 2 weeks my account would be closed pending an negative review. No other other info and I can’t appeal or get further reasoning.

Well that started & ended rather quickly. Not sure still what happened, other than playing ‘the game’.

Don L

Wow! Sorry to hear that.

Haven’t heard anything like that before, could you provide any more details (maybe bank attempted to link), not sure what there verification algorithm involves

Did you choose not to link a debit card then for funding?

Michael
Michael

I linked my bank account Cap1 360 and associated debit card. Also added credit card and 1 NW Visa buxx card. Had started funding through Cap1 360 account and sent money immediately through Cap1 360 debit card.

I had done same for my wife’s account and had no issues. Maybe the trouble was sending my wife money right away?

Eric
Eric

Can you explain more about what happened? Are you saying that you charged money to your Cap1 360 debit card and sent the money to your wife? If so, isn’t that the whole point of Circle Pay?

How much did your wife send to you? Has her account been banned yet?

Michael
Michael

It’s been a while, am a bit hazy. I sent money with my Cap1 360 debit card, while my Cap1 360 account was still verifying. For my wife’s I did the same, but let things everything get verified first. Probably should have waited.

Yeah, sent money right away to my wife, which promptly got my account reviewed and closed, in very short order. I think it had more to do with verification, but not sure. only sent $35. Checking now, her account has been closed too, don’t remember getting email about that.

For some fun, I’ve tried signing up new accounts for both of us again.

YMMV

Cai
Cai

I have refer link but my refer page doesn’t mention the $10 bonus. Can my friend and I get the bonus?

Anil
Anil

Just FYI. My Citi TY Premier card charge posted as cash advance in the month of February. After that I didn’t try with any other card on Circle.

NinjaX
NinjaX

hahaha.. so you used a CC and youre surprised? what did you think you were doing? hilarious…

NinjaX
NinjaX

Everyone who thinks this is some amazing bank bonus deal you can just scale and rake like Citi Gold needs to understand what Circle is. Not gonna write a Bible here, but Circle is a highly regulated Bitcoin business. The fact that it uses the blockchain already gets hate mail from regulators because thats where drugs/sex/rockNroll happen on the dark web. Circle is no joke. I respect Doc so I will just leave it there, but you guys gotta do your own research.

Don L

Sex, Drugs, and Rock n Roll … that doesn’t sound so bad.

But despite being a Circle user, I can honestly admit to very low levels in all three categories 🙂

Chris
Chris

Will this trigger the 1% cash back for PPBDC?

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