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:Â 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
