Circle Debit Card Vs Bank Account Withdraw

[viking02]

I see circle offers debit card, bank account and credit card option.  First of all, i have a bank of america checking account and have their debit card.  So if i want funds from circle to my bank of america checking account, if i use bank account, its free and takes 3-5 business days.  However, debit card is free and instant.  First off... isn't debit card the same as checking account?  So if i get $300 sent from circle to my bank of america checking acct using debit card, its free and instant.  But if i use the bank account option, it takes longer?  Yet BOTH ways are basically crediting my checking account?  I"m very confused here. 


Are limits higher with the checking acct vs the debit card?



What about the credit card option?  Basically thats just paying off your credit card if you have credit card payment due?  But if not, well its basically a credit to your credit card until you have payments to pay with credit card?  Why would anyone choose this option to withdraw funds from circle to their credit card if it costs fees?  Or its only for buying btc.

[achow101]

I see circle offers debit card, bank account and credit card option.  First of all, i have a bank of america checking account and have their debit card.  So if i want funds from circle to my bank of america checking account, if i use bank account, its free and takes 3-5 business days.  However, debit card is free and instant.  First off... isn't debit card the same as checking account?  So if i get $300 sent from circle to my bank of america checking acct using debit card, its free and instant.  But if i use the bank account option, it takes longer?  Yet BOTH ways are basically crediting my checking account?  I"m very confused here. 

There are two different systems at work there, one for debit card, the other for bank accounts. The one for debit cards or instantaneous, I'm not really sure how it works. The other for bank accounts is called ACH which is a transfer of money between two bank accounts and takes a few days for the banks to be process.

[viking02]

yes the ach is the checking account.  However, does anyone here have experience with the debit card?  Because if its the same thing, im not sure why anyone would do ach instead?


i recently did a test transfer from my electrum to my circle account.  I copied my address from circle to my electrum and did a 0.02 btc transfer to my circle.  Why does it show an amount as oppose to the amount of BTC in my circle account?  I believe coinbase shows btc balance.  So circle only shows usd balance?


This is confusing because so if btc goes up, does that mean the usd balance in my circle will go up as well?  Im confused why i see a usd balance there when i thought it should be btc only. 

[viking02]

okay so apparently you could have your circle account in either usd or bitcoin.  First off, do almost all of you keep it in bitcoin as oppose to usd?  Because it automatically converted it for me when i did a 0.02 btc transfer from electrum to circle. 


So let say i transfer 250 dollars worth of btc from electrum to circle.  I then withdraw it to my bank account.  I will receive 250 dollars in few days.  However if i keep my balance in btc... let say i send 250 dollars worth of btc to my circle wallet.  It will show the amt of btc worth 250 on it.  However few days later... let say the amt of the btc is worth 230 for example.  Now let say i want to withdraw it to my bank account.  Is the moment i press withdraw to my bank of america... it will show the usd amount?  Thus no matter what matters in few days with btc fluctuations, it has no effect on me since it counts the moment i click request withdraw?


However, im curious if most of you here who use circle keep it in usd or bitcoin currency.  Im guessing almost all of you change it to bitcoin?  Surprised usd is the default.

[VirosaGITS]

okay so apparently you could have your circle account in either usd or bitcoin.  First off, do almost all of you keep it in bitcoin as oppose to usd?  Because it automatically converted it for me when i did a 0.02 btc transfer from electrum to circle. 


So let say i transfer 250 dollars worth of btc from electrum to circle.  I then withdraw it to my bank account.  I will receive 250 dollars in few days.  However if i keep my balance in btc... let say i send 250 dollars worth of btc to my circle wallet.  It will show the amt of btc worth 250 on it.  However few days later... let say the amt of the btc is worth 230 for example.  Now let say i want to withdraw it to my bank account.  Is the moment i press withdraw to my bank of america... it will show the usd amount?  Thus no matter what matters in few days with btc fluctuations, it has no effect on me since it counts the moment i click request withdraw?


However, im curious if most of you here who use circle keep it in usd or bitcoin currency.  Im guessing almost all of you change it to bitcoin?  Surprised usd is the default.

Because unless its changed and is completely different in the USA, interact is one way, unless a refund is issued. So its okay for buying, but not for selling.
There has not been a real downside for an interact purchase so far, so you can buy instantly and sell over usually 1 day.

I use Coinbase however, the fees are way better here.

[viking02]

okay so apparently you could have your circle account in either usd or bitcoin.  First off, do almost all of you keep it in bitcoin as oppose to usd?  Because it automatically converted it for me when i did a 0.02 btc transfer from electrum to circle. 


So let say i transfer 250 dollars worth of btc from electrum to circle.  I then withdraw it to my bank account.  I will receive 250 dollars in few days.  However if i keep my balance in btc... let say i send 250 dollars worth of btc to my circle wallet.  It will show the amt of btc worth 250 on it.  However few days later... let say the amt of the btc is worth 230 for example.  Now let say i want to withdraw it to my bank account.  Is the moment i press withdraw to my bank of america... it will show the usd amount?  Thus no matter what matters in few days with btc fluctuations, it has no effect on me since it counts the moment i click request withdraw?


However, im curious if most of you here who use circle keep it in usd or bitcoin currency.  Im guessing almost all of you change it to bitcoin?  Surprised usd is the default.

Because unless its changed and is completely different in the USA, interact is one way, unless a refund is issued. So its okay for buying, but not for selling.
There has not been a real downside for an interact purchase so far, so you can buy instantly and sell over usually 1 day.

I use Coinbase however, the fees are way better here.

fees are less with circle or coinbase?

[VirosaGITS]

okay so apparently you could have your circle account in either usd or bitcoin.  First off, do almost all of you keep it in bitcoin as oppose to usd?  Because it automatically converted it for me when i did a 0.02 btc transfer from electrum to circle.  


So let say i transfer 250 dollars worth of btc from electrum to circle.  I then withdraw it to my bank account.  I will receive 250 dollars in few days.  However if i keep my balance in btc... let say i send 250 dollars worth of btc to my circle wallet.  It will show the amt of btc worth 250 on it.  However few days later... let say the amt of the btc is worth 230 for example.  Now let say i want to withdraw it to my bank account.  Is the moment i press withdraw to my bank of america... it will show the usd amount?  Thus no matter what matters in few days with btc fluctuations, it has no effect on me since it counts the moment i click request withdraw?


However, im curious if most of you here who use circle keep it in usd or bitcoin currency.  Im guessing almost all of you change it to bitcoin?  Surprised usd is the default.

Because unless its changed and is completely different in the USA, interact is one way, unless a refund is issued. So its okay for buying, but not for selling.
There has not been a real downside for an interact purchase so far, so you can buy instantly and sell over usually 1 day.

I use Coinbase however, the fees are way better here.

fees are less with circle or coinbase?

The fees are better with Coinbase, by far. Maybe there was an additional fees with Circle because i was in Canada, but anyways, Coinbase is something like 1%+0.7$ depending on if you buy or sell Bitcoin, take or add liquidity. A bit confusing but anyways, its cheap and sending money back to your back account take only like a day.

Best thing i have so far, especially since the Coinbase BTC value is a bit higher than some exchange, it cover the fee and beyond.

[viking02]

But aren't there zero fees with circle?


The other thing is the BTC selling rate higher on circle or coinbase?  Thus even if coinbase has a 1 percent fee, it could be cheaper if they buy btc from you at a higher price?

okay so apparently you could have your circle account in either usd or bitcoin.  First off, do almost all of you keep it in bitcoin as oppose to usd?  Because it automatically converted it for me when i did a 0.02 btc transfer from electrum to circle.  


So let say i transfer 250 dollars worth of btc from electrum to circle.  I then withdraw it to my bank account.  I will receive 250 dollars in few days.  However if i keep my balance in btc... let say i send 250 dollars worth of btc to my circle wallet.  It will show the amt of btc worth 250 on it.  However few days later... let say the amt of the btc is worth 230 for example.  Now let say i want to withdraw it to my bank account.  Is the moment i press withdraw to my bank of america... it will show the usd amount?  Thus no matter what matters in few days with btc fluctuations, it has no effect on me since it counts the moment i click request withdraw?


However, im curious if most of you here who use circle keep it in usd or bitcoin currency.  Im guessing almost all of you change it to bitcoin?  Surprised usd is the default.

Because unless its changed and is completely different in the USA, interact is one way, unless a refund is issued. So its okay for buying, but not for selling.
There has not been a real downside for an interact purchase so far, so you can buy instantly and sell over usually 1 day.

I use Coinbase however, the fees are way better here.

fees are less with circle or coinbase?

The fees are better with Coinbase, by far. Maybe there was an additional fees with Circle because i was in Canada, but anyways, Coinbase is something like 1%+0.7$ depending on if you buy or sell Bitcoin, take or add liquidity. A bit confusing but anyways, its cheap and sending money back to your back account take only like a day.

Best thing i have so far, especially since the Coinbase BTC value is a bit higher than some exchange, it cover the fee and beyond.

[VirosaGITS]

But aren't there zero fees with circle?


The other thing is the BTC selling rate higher on circle or coinbase?  Thus even if coinbase has a 1 percent fee, it could be cheaper if they buy btc from you at a higher price?

okay so apparently you could have your circle account in either usd or bitcoin.  First off, do almost all of you keep it in bitcoin as oppose to usd?  Because it automatically converted it for me when i did a 0.02 btc transfer from electrum to circle.  


So let say i transfer 250 dollars worth of btc from electrum to circle.  I then withdraw it to my bank account.  I will receive 250 dollars in few days.  However if i keep my balance in btc... let say i send 250 dollars worth of btc to my circle wallet.  It will show the amt of btc worth 250 on it.  However few days later... let say the amt of the btc is worth 230 for example.  Now let say i want to withdraw it to my bank account.  Is the moment i press withdraw to my bank of america... it will show the usd amount?  Thus no matter what matters in few days with btc fluctuations, it has no effect on me since it counts the moment i click request withdraw?


However, im curious if most of you here who use circle keep it in usd or bitcoin currency.  Im guessing almost all of you change it to bitcoin?  Surprised usd is the default.

Because unless its changed and is completely different in the USA, interact is one way, unless a refund is issued. So its okay for buying, but not for selling.
There has not been a real downside for an interact purchase so far, so you can buy instantly and sell over usually 1 day.

I use Coinbase however, the fees are way better here.

fees are less with circle or coinbase?

The fees are better with Coinbase, by far. Maybe there was an additional fees with Circle because i was in Canada, but anyways, Coinbase is something like 1%+0.7$ depending on if you buy or sell Bitcoin, take or add liquidity. A bit confusing but anyways, its cheap and sending money back to your back account take only like a day.

Best thing i have so far, especially since the Coinbase BTC value is a bit higher than some exchange, it cover the fee and beyond.

Yes that would be the case if it was true, the exchange right isint exactly tied to one or the other, its possible to get an better exchange rate at Circle, and at another point in time, get a better deal on Coinbase.

The thing is, maybe it was just for Canadian but the fee was 4%~ on Circle. If you,re in the US and there are no fee, then you would be better going with Circle, yes.