The Circle App

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Send or Receive Money from Anywhere in the World from Your Smartphone with Circle.

New generations have become accustomed to playing on a global scale, using the Internet for everything from purchasing items to sharing music playlists, streaming live content or chatting on forums and social networks.

Money, too, has become a global matter, with many people discovering international causes which are near and dear to them, or sending money to family and friends abroad, with a couple of clicks.

Actually, we often need to send money to those living in the same country – for example, to a friend who advances money for concert tickets or a family member who has a birthday. Circle is a fantastic new App that makes it possible to send or receive money through a simple message or email.

One of Circle’s most interesting features is that you can send money in other currencies – no commission at all is charged, so neither you nor the recipient lose a cent. Limits have been established to keep transactions safe – you can only add €400 weekly from your bank card to the App, though there are no limits regarding how much you can send from your total Circle account balance.

If you provide additional information, the €400 limit can be raised to €2.500. You can only use debit cards to transfer money to the App – these cards must be from Visa or MasterCard; currently, Circle does not work with credit cards, PayPal or any bank accounts you may have outside the European Union.

To start up with Circle, just register online using your email or telephone number. Upload a photo of your bank card to accept any funds sent to you, in a matter of seconds. In case you were wondering if the App is safe, the answer is a resounding ‘yes’.

Circle is approved by the Financial Conduct Authority (FCA), which protects customers against theft. Moreover, the App does NOT keep your bank card number, nor your bank account number. To safeguard your account, you can use a PIN number, Touch ID, password or authentication manager such as 1Password or Authy.

1Password is a super new App that collects all your existing passwords, locking them up in a place you can access with just one password. To access the information, just log on. The App can also generate new passwords for you whenever you like, locking them up securely afterwards.

1Passwords then syncs your new passwords on every device you own. Therefore, you neither have to think up clever passwords, nor remember a plethora of different passwords.

Authy, meanwhile, uses two-factor authentication to protect your cherished information. For instance, every time you carry out a transaction you will receive a new seven-digit authentication code you have to type in to finalise the purchase. When combined with these Apps, Circle becomes a safe way indeed to manage your funds.

The founders have a lofty aim indeed – they want to not only help you make payments online, but also “to change the world economy.” “Everything is free on the Internet and it is free and instant: whether you are sending an e-mail to a friend in China, reading an Italian newspaper or uploading photographs from your latest trip.

Why, then, should sending and receiving money have to be so archaic and frustrating?” The way to do this is through a complex series of algorithms that keep your money safe at all times.

Circle was recently crowned Top Digital Innovation of 2016 by Banking Technology, a worldwide news and global financial technology analysis company. Marieke Flament, Circle MD Europe said: “We are delighted to be recognised as leaders who are innovating the fintech space as we look to continue defining a new category for social payments globally.”

Words Marisa Cutillas

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