The Circle Pay product is being discontinued and all customers have been notified to cash out all remaining funds from their account. Multiple communications and reminders have been sent to all customers from June 2019 to September 2019 to facilitate the timely withdrawal of funds.
For customers with account balances, who have not withdrawn by September 23rd, 2019, we may assess a Dormancy Fee to cover the cost of escheating funds to respective states, to claim at a later date, as well as the cost of supporting on-going technical and business operations.
This Dormancy fee will be deducted directly from the remaining balance of an account, up to but not exceeding $30. This fee will NOT be deducted from credit cards, debit cards or bank accounts currently linked to accounts and your account balance will never go negative.
The fee will be visible in your account under the transactions section and history, labeled as “Dormancy Fee”.
For Customers located in the United States:
A one-time dormancy fee may be assessed on all accounts with a balance greater than $0 on September 23rd, 2019. This fee will not be assessed to customers located in Texas or Maryland.
For Customers located in the United Kingdom or European Union:
A recurring dormancy fee may be assessed on all accounts with a balance on or after October 1st of each year.