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 is not our intent to process charges as cash advances whatsoever, and we’re investigating the issue. We understand the frustration. Since this issue does not occur across all issuing banks, and since we are not notified when it occurs, it would be helpful for any affected customers to let us know by way of email to [email protected]
So what do they do? They take a bold step and offer people who may have been affected $50. You know, just in case.
Atlantic Financial President Bruce Fenton posted a screenshot on social sharing site Reddit.com which showed an email from Circle.
The message reads:
We recently learned that some of our customers are being charged cash advance fees by their credit card issuing banks for deposits made to Circle. We noticed you used a card with us, and we hope that you have not been charged these fees. Just in case, we’ve sent you $50 in bitcoin for any inconvenience.
It’s a great move, and it’s probably not costing the company a whole lot of money, given the invited user base is still small, but it’s things like this that instill consumer confidence.
Did you receive a similar email from Circle, or are you still awaiting your invite?
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