Circle Issues $50 to Customer to Cover Unexpected Cash Advance Fee
Bitcoin financial services startup Circle Internet Financial has issued at least one user a $50 credit in order to help refund that customer for possible cash advance fees he may have incurred using the service. Circle, which is currently undertaking a closed test of its platform, appears to be responding to criticisms regarding the charging of cash advance fees, a common headache experienced by those attempting to buy bitcoin with a credit card. As previously reported by PandoDaily, the company was made aware of the cash advance fees and, at the time, promised to investigate the issue. In....
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Circle's a brand-spanking-new bitcoin company out of Boston, and their Coinbase-like services are in beta (users are slowly getting invited to try out the platform). That inevitably means that they are expected to encounter issues while they perfect their product. One such issue, reported by a number of customers, was that upon purchasing bitcoin using the service, the end user was being charged by their credit card companies as if the transaction was a cash advance as opposed to a purchase. What that means is hefty fees in many cases, which is certainly not the intention on the part of....
Peer-to-peer bitcoin shopping service Purse.io is now offering a $10,000 customer protection guarantee to cover users against any costs related to purchasing items through its website. Notably, the scheme, which was launched on 7th January, will also be available retrospectively to users who report incidents on any past transactions. Andrew Lee, CEO of the startup said: "Our payment flow relies on two irreversible transactions: bitcoin transfer through escrow and delivery of a physical good. This is one of the reasons why we are able to deliver drastically lower fraud rates than PayPal,....
It was just several days ago we reported on an issue some Circle Internet Financial users were experiencing. If you're not up to date, here's how it went. Some users of the new service (which is in invitation-mode only at the moment) had reported being charged fees by their financial institutions for taking out cash advances, when in actuality they were just buying bitcoin at Circle. Those cash advances come with hefty fees, and Circle previously made the following statement: We've become aware that some credit card issuing banks are erroneously processing settlements as cash advances. It....
A Coinbase customer complains about the poor response from Coinbase customer support as the platfrom shuts down his account citing FinCEN regulations. The advancement in technology has drastically changed the travel patterns of an average human. People cover more miles, across geographies due to the increased need to travel for business and pleasure. Bitcoin, being a truly global currency has emerged as a champion for those who are constantly moving. While everyone praises Bitcoin for making it easy to spend money anywhere across the world without having to worry about conversion rates,....
It was recently noted that Circle Internet Financial had mobile applications for iOS and Android in the works. In fact, the Boston-based company demonstrated their mobile applications in London last month, but we haven't really gotten a good look at the Android version of the app. Until today. Kind of. Nat Tarbox, Product Designer at Circle, posted an image this week offering users a very tiny glimpse as to what they can expect the Android version of the app to look like. Here it is: It's certainly got something in common with the Circle website, and that's that it looks clean and spiffy.....