Circle Email and Identity Verification Questions

I created a circle account recently. Majority of my bitcoins are in my online wallet. I also created a coinbase account a while back but never used it either. I would like to sell some bitcoins using circle since there is no fee at all compared to coinbase which is 1 percent.

Can someone tell me if $300 is the max a week one can withdraw from circle to bank account? I use bank of america. I hear people mention you can get that limit raised to $3000 a week with verification documents. What documents are these? Is it basically bank account information? I had to do that with coinbase where they did a test deposit i believe and then i had to confirm the amounts then after that i got verified. However i believe thats just coinbase verification. I would like to know how to increase the limit to sell bitcoin from circle to bank account. Someone had mentioned if your weekly limit is only $300, then keeping a lot of btc in circle is basically useless then since you can't cash it out?

How long does it take to get that $300 limit to increase to $3000? And what verfication document is needed? I'm assuming just your bank account that you want to be paid with and then confirm the test deposits? I assume one doesn't have to wait a long time to get increased limits?

Another question. I created a circle account then had the email to confirm my email address. I did this. I then logged into my email recently and saw another email message from circle that says

Hi viking,

Thanks for signing up to use Circle. We need some additional information in order to verify your identity and provide access to your Circle account.

Confirm your identity.

Questions? Please contact our support team.

Thanks,
Team Circle

This is 100% legit and not a phishing attempt right? Looks exactly the same as my email confirmation email that was sent few day before. I didn't check my email for few days then saw this email and pretty sure its legit but just want to make sure. It wouldn't make sense that it's a phishing attempt since i got this email the next day correct?

Quote from: viking02 on October 23, 2015, 12:43:31 AM

My max was 500$ a week and i did not need to verify. I don't know why they are asking this. Maybe they raised their requirements after i registered 1.5years ago. Do you live in North America? If so i recommend Coinbase.

Yes im in north america. It does show limits are 300/week. However do i need to verify my account first? The only thing i did was confirm my account via email. Then this email to confirm my identify i received later on but i just noticed this email now. I'm pretty sure this isn't a phishing scam but just want to verify here that this is a legit email.

I signed up about 2 weeks ago, I think you only need to verify (photo id and webcam pic) if you are buying bitcoins (with bank or debit card) but I am not sure about depositing bitcoins and withdrawing to bank.

The "automated id scanner" they use is a bit picky, I had to email them to get my account verified because my phone and tablet camera were not great shots.

They take a few hours to reply (sometimes almost 24 hours) but they are very helpful and I do like them.

Also as a resident/slave of USA I also have $300 limit

Quote from: viking02 on October 23, 2015, 01:40:28 AM

I see, i might have given them a pic of me. I didnt use it in months, but my limit went from 500$ to 3000$ and i didn't do anything more. Strange.

Anyways, Circle has massive fees. I really recommend setting up Coinbase. They charge 1%+0.7$/1$, have a higher exchange rate and its instant with interact, at least in Canada. And it take 1 day or so to receive money when you send it back to your bank account.

Setting up a bank account take a few days however.

what fees are you speaking of with circle? Was told theres no fees at all when transferring bitcoins from circle to say bank of america. Was told if doing it with coinbase, its 1 percent. So for example with $1000, it cost $10 with coinbase but no cost with circle. So this is incorrect?

well i want to know if confirming my identify email is legit. Im pretty certain it is since it looks similar to the confirm my email.

Quote from: viking02 on October 23, 2015, 04:32:52 AM

lol. Circle would take nearly 20$ in "processing fees" when i would buy 500$ in BTC, which is 4% fee. Then its considered a fund advance and you get additional fee on your credit card too.

Maybe Circle work differently in the US. The exchange rate is or was also lower than what you'd get from a real exchange.

The only upside of Circle was... quick sign up, few minutes later i got my Bitcoin. But i sure paid lots of fees.

Hey. Well the thing is i won't be buying bitcoins from circle. I already have bitcoins. Will be transferring bitcoin from my wallet to circle then transfer it to my bank of america. There is no fee to go from circle to bank of america correct?

Hey,

I've bought more than 10,000 usd from circle, I confirmed my identity like 1 year ago. It's possible to deposit bitcoin to your bank of america account without paying any fees, although they'll pay around 3% as far as I remember. You have to check out what they say when you are in the prompt screen before actually depositing them.

After my investigation I found out (2years ago) people were getting their chase bank account closed so I've never deposited in my USA bank account, although I've made visa deposits to my debit card from another country and it takes like 3 days to be processed and it has always worked.

Quote from: viking02 on October 23, 2015, 05:18:24 AM

Like i said, i'm From Canada. And that means i never heard of "Bank of America" over here. I very much doubt its free, since the service in the first place cost money, but who knows, maybe someone else is paying the bill.

But its sure as hell not free when i did it, even though they say its a free service. The conversion rate was horrible. If Bank of America is exempt, that would be cool but i see no mention of it after looking through their pages.

okay no issue. But can someone confirm here they had this email that i posted after opening a circle account?

Can someone here from the US confirm they require a selfie in order to increase limits? What about your id/passport?

Another quesiton i have.

Another question i have is how do i send bitcoin from my electrum wallet to circle? Am i suppose to go to top right corner where it has my name and then click get address? Then once i do that, then copy that address to my electrum wallet and then send btc to circle? Because apparently it says circle uses a different btc address each single time. So im confused with this.

So with my $300 weekly limit at the moment, that means i can basically just send 1 btc from my electrum wallet to my circle account?

I have bank of america. So in order to cashout, i would go to cash out, then click on bank of america. Then have to login to online banking? This is pretty strange to me as i thought you just put your bank of america checking acct number info and thats all. Also are you familiar with adding a debit card? I have a boa debit card so if you transfer funds from circle to boa debit card, isn't that the same as your boa checking account?