Email from Circle.com asking source of funds

[kjrpat]

hey guys could use a little help here. I got the following email from circle:

Team Circle (Circle) Mar 22, 11:39 AM Hi Harry, We’ve noticed you regularly transfer with Circle. That's great! Thanks for using our service. We need to make a brief note about some of your transfers in order to comply with U.S. and E.U. regulations. This information is confidential and is only gathered to meet record-keeping requirements. At your earliest convenience, will you please share with us some information about the source of your funds, the purpose of the transfers, and your primary occupation? Feel free to just copy below and fill in the blanks. - Source: - Purpose of transfers: - Primary occupation: Thanks again for your time and for being a Circle customer! Best, Team Circle What should I reply back?

[raiders72001]

hey guys could use a little help here. I got the following email from circle:

Team Circle (Circle) Mar 22, 11:39 AM Hi Harry, We’ve noticed you regularly transfer with Circle. That's great! Thanks for using our service. We need to make a brief note about some of your transfers in order to comply with U.S. and E.U. regulations. This information is confidential and is only gathered to meet record-keeping requirements. At your earliest convenience, will you please share with us some information about the source of your funds, the purpose of the transfers, and your primary occupation? Feel free to just copy below and fill in the blanks. - Source: - Purpose of transfers: - Primary occupation: Thanks again for your time and for being a Circle customer! Best, Team Circle What should I reply back?

They know that you use it for gambling but need something on file for legal purposes. A high percentage of bitcoin transactions are for gambling.

What works for most is just say that you are a bitcoin trader or buy/sell computer equipment.

[Wohlford]

Generally speaking, what's been the size and frequency of transfers?

Go over or near $10K in a single month or statement period?

[kjrpat]

i deposited 1k and withdrew 4k.

I think the problem is, I was not using a 3rd party wallet like airbitz. I was just going straight from circle to Bookmaker.eu and vice verse.

I just downloaded airbitz mobile to my phone and will use that as an intermediary going forward.

[kjrpat]

By the way, how does circle make money if its completely free?

[SharpAngles]

Since you've been going straight from the book to circle you better have a good story if you want to keep using them.

Maybe youre a freelance web designer or network tech who did some work for the business and got compensated in btc?

[kjrpat]

I got an email back...

Hi,
Thank you for your prompt response! We hope you continue to enjoy using Circle.
Please do not hesitate to reach out with any questions or concerns. We are eager to hear feedback from our customers.
Best,
Cassie, Team Circle

[VeggieDog]

By the way, how does circle make money if its completely free?

Volume.

[davidchong]

from circle:



Download the Circle International User Agreement
Notice: Customers of Circle within the European Economic Area (EEA) will soon become customers of Circle UK Trading Limited. Customers of Circle outside of the EEA or United States will continue to be customers of Circle Internet Financial Trading Company Limited. A new User Agreement reflecting this change and other related updates will be published to this page in the coming weeks. If you have any questions or concerns, please contact Support.

International (Non-U.S.) User Agreement

Last updated: November 19, 2015
This User Agreement (“Agreement”) is a contract between you and Circle Internet Financial Trading Company Limited (“Circle”, “us”, “our” or “we”) and Circle Internet Financial, Inc. (solely with respect to the purchase and sale of bitcoin as detailed in Section 9 and related Sections) that applies to your use of Circle’s products and services (the “Services”). By registering an account with Circle or using any of the Services, you agree that you have read, understood, and accept all of the terms and conditions contained in this Agreement as well as ourPrivacy Policy, Cookie Policy, and E-Sign Consent, which are incorporated into this Agreement by reference. Section 23 of this Agreement governs how this Agreement may be changed over time. The text in the boxes throughout this Agreement is there to help you understand the Agreement, but is not part of the Agreement. If after reading this Agreement in its entirety you are still unsure of anything or you have any questions, pleasecontact Support.
If you want to have a Circle account, these are the rules that you and Circle need to follow. Incorporating the Privacy Policy, Cookie Policy and E-Sign Consent “by reference” means that by agreeing to this User Agreement you are also subject to those policies.

1. Eligibility

You must be an individual of at least 13 years of age and reside outside of the United States to enter into this Agreement. In order to link a bank account, debit card or credit card to your account, you must be at least 18 years of age. Use of certain Services may have further eligibility requirements that will need to be verified prior to you using such Services.
If you are under the age of 18 and would like to link a bank account, debit card, or credit card, please contact Support. Note that we may not provide all or some of our Services to certain persons or regions if, for example, in doing so, we would not be able to comply with the laws relating to our Services in such circumstances.
2. Registration Process; Identity Verification

You may register for one account denominated in your local currency and/or one account denominated in Bitcoin, for a maximum of two accounts. If you open additional accounts, we reserve the right to immediately close such additional accounts.
When registering for your account, you must provide current, complete, and accurate information for all required elements on the registration page. If any of this information changes, it is your obligation to update such information as soon as possible. From time to time, we may also require you to provide further information as a condition for continued use of the Services, including but not limited to a copy of your government issued photo ID. If you wish to convert local currency to bitcoin by linking a bank account, debit card, or credit card, you authorize Circle, directly or through third parties, to make any inquiries we deem necessary to validate your identity and account information. This may include requesting further information about you such as your date of birth, email address, physical address, tax identification number, and bank account or credit card information so that we can confirm your identity. We reserve the right to maintain your account registration information after you close your account for business and regulatory compliance purposes.
In order to prevent fraud and to comply with international law as well as federal and state laws, if you want to link a bank account, debit card, or credit card in order to make a deposit, we need to make sure that you are who you say you are. If you are depositing bitcoin from an external wallet or address, then these steps will not be necessary.
3. Privacy

We are committed to protecting your personal information and to helping you understand exactly how your personal information is being used. You should carefully read, download, and store our Privacy Policy and Cookie Policy as each provides details on how your personal information is collected, stored, protected, and used.
4. Communications

By entering into this Agreement, you agree to receive electronic communications and notifications in accordance with our E-Sign Consent Policy.
Printing and mailing correspondence, disclosures, and account statements takes time and money, so we like to handle these matters electronically.
This Agreement is provided to you and concluded in English. We will also communicate with you in English for all matters related to your use of our Services. Where we have provided you with a translation of the English language version of this Agreement, you agree that the translation is provided for your convenience only and that the English language version of the Agreement will govern your use of the Services.
5. Security of User Information

You are responsible for maintaining the confidentiality and security of any and all account names, user IDs, passwords, personal identification numbers (PINs), and mobile unlock codes that you use to access the Services. You are responsible for keeping your email address up to date in your Circle Account profile and for maintaining the confidentiality of your user information. You agree to (i) notify Circle immediately if you become aware of any unauthorized use of the Services or any other breach of security regarding the Services atsupport@circle.com and (ii) ensure that you sign out of your account at the end of each session when accessing the Services. Circle will not be liable for any loss or damage arising from your failure to protect your account information.
We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from Circle, you should log in to your account through the Circle website (www.circle.com), not by clicking any links contained in such communication.
We go to great lengths to protect your account, but we need you to do the same. It is important that you always protect not only your Circle password but also the email account associated with your account and any device used to access your account.
6. Account Suspension & Closure

We may, without liability to you or any third party, refuse to let you open an account, suspend your account, or terminate your account or your use of one or more of the Services. Such actions may be taken as a result of account inactivity, failure to respond to customer support requests, faiture to positively identify yourself, if we believe your account has been compromised, in order for us to comply with laws or regulations, or your violation of the terms of this Agreement (including, but not limited to, Sections 16 and 17). If you have bitcoin remaining in an account which has been suspended or closed, you will be able to access such bitcoin and withdraw them to an external bitcoin address (unless prohibited by law or a court order). If you are unable to login to your account because it has been suspended, you must contact us at support@circle.com to process such withdrawal. If you have linked a bank account, debit card, or credit card to your account, we reserve the right to require you to provide further identifying information before processing such withdrawal or transfer and to delay such withdrawal or transfer to investigate if we believe fraudulent activity has occurred. If you are unable to login to your account, you will need to contact Support to process such withdrawal.
You may terminate this Agreement at any time by closing your account and discontinuing use of the Services. Upon termination of this Agreement and your account, you remain liable for all transactions made while the account was open.
If you use Circle to commit crime, we can close your account. If you attempt to link a bank or card and fail identity verification when doing so, you will still be able to access your bitcoins. If your account is closed, we may require you to complete additional identity verification and fraud prevention steps in order to access funds in that closed account. Requirements are generally more complicated around bank and card use than they are around bitcoin use.
7. Services; Third Parties

Circle provides you with a secure and convenient way to establish and account for purposes of (i) depositing local currency in exchange for bitcoin, (ii) storing bitcoin, and (iii) sending and receiving bitcoin. Your account is not a bank account.
Circle is an independent contractor for all purposes and is not your agent or trustee. Circle does not have control of, or liability for, any products or services that are purchased or sold by third parties using the Services. Circle does not guarantee the identity of any user or other party or ensure that a buyer or seller is authorized to complete a transaction or will complete a transaction. Circle is not liable for any losses or issues that may arise from such third party transactions, including, but not limited to, legality, quality, delivery, or satisfaction with any products purchased. If you are not satisfied with any goods or services purchased from, or sold to, a third party using the Services, you must handle those issues directly with the third party seller or buyer, as applicable.
If you use your Circle account to send money to someone in exchange for a product or service, and you have a problem with that product or service, you will need to resolve that dispute directly with the third party.
8. Mobile Services

To the extent you access the Services through a mobile device, your wireless service carrier’s standard charges, data rates, and other fees may apply. In addition, downloading, installing, or using certain mobile applications may be prohibited or restricted by your carrier, and not all Services may work with all carriers or devices. By using mobile Services, you agree that we may communicate with you by SMS, MMS, text message, push notification, and/or other electronic means via your mobile device and that certain information about your usage of the Services may be communicated to us. In the event that you change or deactivate your mobile telephone number, you agree to promptly update your account information to ensure that your messages are not sent to any person who might acquire your old number.
In order to maintain the security of your account, two-factor authentication is required. That means that you need to have a valid phone and update your account information if your phone number changes.
9. Fees; Authorization

When you convert local currency to bitcoin you are receiving those bitcoin directly from Circle Internet Financial, Inc. (or its affiilated entities), and when you convert bitcoin to local currency you are receiving that local currency directly from Circle Internet Financial Inc. (or its affiilated entities). Circle does not charge any fees for deposits and withdrawals from bank accounts, secure storage, insurance, or for any bitcoin-to-bitcoin transactions. If you choose to deposit funds using a debit card or credit card, you will incur a fee payable to us that will be disclosed to you at the time of such deposit. You also agree to pay any other fees that are disclosed to you with respect to the Services or that may be charged by your bank, card issuing institution, phone carrier or internet service provider.
If you link a bank account to your Circle account, you should not be charged any fees. If you choose to deposit by credit card, there will be an additional processing charge to cover bank fees, and it is possible that your bank might charge additional fees such as cash advance fees and, if your card is not issued by a US bank, your bank may charge you foreign exchange conversion fees.
By linking a bank account, debit card, or credit card to your account, you authorize Circle to communicate with your bank or card issuer (as the case may be) to provide or obtain any information required by Circle or your bank or card issuer in connection with us providing the Services to you. By providing this information, your bank is not endorsing Circle nor are they in any way responsible for the Services.
When you use your bank account, debit card, or credit card to deposit funds, you are requesting an ******************* of funds. For bank account transactions, Circle will make electronic fund transfers from your bank account in the amount you specify. You agree that such requests constitute your authorization to Circle to make such transfers. Once you have provided your authorization for a transfer, you will not be able to cancel the *******************. You hereby give Circle the right to resubmit any electronic fund transfer you authorized that is returned for insufficient or uncollected funds. You also authorize us to amend your Circle account activity to correct such error. You authorize Circle to take necessary action to reverse, credit, or debit any payment in connection with any necessary chargebacks, reversals, refunds, or adjustments.
10. Value of Bitcoin; Conversion Rate

Circle does not guarantee the value of bitcoin. The value of bitcoin can rapidly increase or decrease at any time. You acknowledge that the price or value of bitcoin may fluctuate and that the conversion rate (the “Conversion Rate”) for converting local currency into bitcoin may not be the same Conversion Rate that applies when converting bitcoin into local currency. You will always be shown the applicable Conversion Rate for a transaction prior to consummating the transaction. You agree to deliver the agreed upon payment for bitcoin upon confirmation of an order, regardless of changes in bitcoin value. The Services do not involve any extension of credit to you, and no credit is extended to you in connection with your use of the Services. In the event you are entitled to a refund or other payment by Circle, Circle shall have no liability for any losses resulting from a change in the Conversion Rate that may have occurred since the time of the original transaction. We are not responsible for any processing delays that may result in connection with any deposit, withdrawal, or transaction.
All funds received into your Circle account will be delivered in the currency that your account is denominated in, regardless of what currency the transaction is initiated in. For example, if your Circle account is denominated in Bitcoin and someone sends you U.S. Dollars, we will automatically convert such U.S. Dollars to bitcoin based upon the current Conversion Rate. We are not responsible for any losses that might be incurred as a result of the Conversion Rate that applies to a given transaction.
The conversion rate of bitcoin to local currency is constantly changing. If a deposit attempt fails and the value of bitcoin rises before you are able to successfully complete a deposit, we are not responsible for any value lost due to that conversion rate change. At any given time the rate for converting U.S. Dollars to Bitcoin may differ from the rate used for converting Bitcoin to U.S. Dollars., etc.
11. Theft Insurance

In the event that any bitcoin held in your account are lost or stolen as a result of a direct breach of Circle’s digital or physical storage facilities, the entire balance of your account is fully insured, subject to the terms and conditions of Circle’s insurance policy with Marsh Insurance. If your bitcoin are lost or stolen as a result of your own failure to maintain proper security protocols in accordance with Section 5, such loss is not covered by Circle’s insurance. Your account is not covered by any government-backed deposit insurance scheme.
If Circle’s security measures are compromised, we have you covered up to your full account balance. If someone is able to gain access to your account by gaining direct access to your phone and computer, or otherwise, that is not covered by our insurance.
12. Transaction Limits

Circle reserves the right to change the deposit, withdrawal, conversion, storage, and velocity limits on your account as well as the availability of the Services as we deem reasonably necessary. We may establish individual or aggregate transaction limits on the dollar amount or number of deposits or withdrawals you make during any specified time period.
A “velocity limit” relates to the speed and frequency of transactions. If you are making 1,000 deposits per day, we might need to slow you down a bit.
13. Right to Suspend or Delay Transactions

We reserve the right to change, suspend, or discontinue any aspect of the Services at any time, including hours of operation or availability of any feature, without notice and without liability. We may decline to process any deposit or withdrawal without prior notice and may limit or suspend your use of one or more Services at any time, in our sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to this Agreement. We may, in our sole discretion, delay deposits or withdrawals if we believe the transaction is suspicious, may involve fraud or misconduct, violates applicable laws, or violates the terms of this Agreement.
14. Insufficient Funds

If your account has a negative balance as a result of a deposit being rejected or reversed, Circle may deduct amounts you owe from the balance of your account or from funds you subsequently deposit or receive into your account. If Circle requests that you complete a deposit in order to resolve a negative balance issue and you fail to do so, you authorize Circle to initiate a deposit in the amount of such deficiency from your linked bank account, credit card, or debit card. If you have more than one account, Circle may set off the negative balance in one account by using any balance that you hold in your other accounts. To secure your performance of this Agreement, you grant to Circle a lien on and security interest in and to the balances in your account.
For example, if you deposit $50 by credit card and that deposit is reversed by your bank after you’ve spent the funds, we reserve the right to deduct $50 from your account balance or your next deposit.
In the event that Circle is forced to engage a third party to assist with the recovery of any negative balance, overdraft or **********, you will be charged any fees or expenses that are incurred by Circle in connection with such recovery efforts, including, but not limited to, collection fees or convenience fees charged by third parties. You hereby explicitly agree that all communication in relation to a delinquent account will be made by electronic mail or phone. Such communication may be made by Circle or by any third party acting on its behalf, including but not limited to a third party collection agent. Note that if Circle is forced to engage such third parties in connection with recovering amounts that you owe Circle, your credit may be negatively impacted.
15. Refunds; Reversals

Once a bitcoin transaction has been initiated, it cannot be reversed. Deposits using a bank account, debit card, or credit card may be reversed or may be subject to a ********** or related claim. Except as set forth in this Agreement, all payment transactions processed through the Services are non-refundable. You may have additional refund or charge-back rights under your agreement with the recipient of such funds, your bank, or applicable law. You should periodically review statements from your bank, which should reflect all applicable payment transactions made using that payment method. You can also always access the record of your Circle transactions by logging into your Circle account.
16. Restricted Activities

In connection with your use of Services, you hereby agree that you will not:

• violate (or assist any other party in violating) any applicable law, statute, ordinance, or regulation;
• intentionally try to defraud (or assist in the defrauding of) Circle or other Circle users;
• provide false, inaccurate, or misleading information;
• take any action that interferes with, intercepts, or expropriates any system, data, or information;
• partake in any transaction involving the proceeds of illegal activity;
• transmit or upload any virus, worm, or other malicious software or program;
• attempt to gain unauthorized access to other Circle accounts, the Circle website, or any related networks or systems;
• use the Services on behalf of any third party or otherwise act as an intermediary between Circle and any third parties;
• collect any user information from other Circle users, including, without limitation, email addresses;
• defame, harass, or violate the privacy or intellectual property rights of Circle or any other Circle users; or
• upload, display or transmit any messages, photos, videos or other media that contain illegal goods, pornographic, violent, obscene or copyrighted images or materials for use as an avatar, in connection with a payment or payment request, or otherwise.

17. Prohibited Payments

Using the Services to make the following types of payments is prohibited, and Circle reserves the right to monitor for payments that relate to:

• any Restricted Persons or persons or entities located in Restricted Territories (as each term is defined in Section 29);
• weapons of any kind, including but not limited to firearms, ammunition, knives, or related accessories;
• controlled substances including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories;
• gambling activities including but not limited to sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing;

We understand that gambling may be legal in your jurisdiction, but unfortunately we cannot allow you to use Circle in connection with these activities.

[davidchong]

check clause 17...

[raiders72001]

i deposited 1k and withdrew 4k.

I think the problem is, I was not using a 3rd party wallet like airbitz. I was just going straight from circle to Bookmaker.eu and vice verse.

I just downloaded airbitz mobile to my phone and will use that as an intermediary going forward.

Unfortunately, since you did go straight Circle to sportsbook one time, you are going to have to start changing the bitcoin wallet address between Circle and sportsbook.

Even changing the intermediary may not help for very long.

It's really important not to do it one time. Bookmaker may be one of the sites they consider to be gambling. If the Circle transaction starts with you and ends up at a flagged gambling site, you'll get banned.

edit- Just for the record, I'm not saying that you should stop playing at Bookmaker.

[kjrpat]

are there other site i can use besides Circle? Circle has been so good convenient for me. Anything similar?

[kjrpat]

what does that mean, volume?

[raiders72001]

are there other site i can use besides Circle? Circle has been so good convenient for me. Anything similar?

Coinbase would be nice for you since they are similar.

It only takes a click to open up a blockchain.info account. You just put in a password with no information. You may want to just use a different wallet with every transaction.

Transfer the whole amount from the new blockchain accounts since it would be a pain to remember all the accounts and passwords. Use the wallet once and then dump it.

[Buffalo Nickle]

what does that mean, volume?

It means they make small amounts of money on each transaction with small differences in price and profit by dong a large number of transactions. Circle is getting people used to bitcoin and making it free to encourage people to use it. They will eventually probably start charging.

[bluefish]

Just throwing this out there, can't you say you buy and sells tickets instead of selling computer parts? i'm sure many saw your direction, but would this be suitable as well?

[raiders72001]

Just throwing this out there, can't you say you buy and sells tickets instead of selling computer parts? i'm sure many saw your direction, but would this be suitable as well?

Sure, that would be fine. As long as you answer, most of the time they are happy.

[The Giant]

I got an email back...

Hi,
Thank you for your prompt response! We hope you continue to enjoy using Circle.
Please do not hesitate to reach out with any questions or concerns. We are eager to hear feedback from our customers.
Best,
Cassie, Team Circle

Consider yourself lucky.

I got banned from Circle by Cassie, and wasn't even given an opportunity to make up an excuse.

[temple2010]

tell them you're in the female sex toy business

[FreeFall]

By the way, how does circle make money if its completely free?

it's not free. They charge you a spread on the price. Look at anytime for the price of bitcoin and then look what they make the price of a bitcoin. That's where they make money and lots of it.

[BORG]

They can draw interest on held funds..

[Nut_Flopper]

it's not free. They charge you a spread on the price. Look at anytime for the price of bitcoin and then look what they make the price of a bitcoin. That's where they make money and lots of it.

This

There is usually a couple dollar price difference between for example coinbase and Circle. As I right this here is the price difference.

Coinbase 1 btc = $417.55
Circle 1 btc = $422.34

[littlekona]

They asked me similar questions plus asked for ID and a selfie picture...my account is in limbo now and need to find another source besides coinbase to withdrawl from...any suggestions for USA

[compaqDikk]

I told them i whack off in circles as a source of my funds and they increased my limits to 15k a week