Cloud money platform Uphold has enabled its US members to fund their Uphold accounts by linking their debit or credit cards, bank accounts, and bitcoin.
The new capability will enable members to use their bank accounts, debit or credit cards to transfer funds to the company’s accounts and conversely, move funds from Uphold to linked bank accounts.
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The company said it will charge a 2.75% fee from members funding their account with a debit or credit card, initially Visa and MasterCard.
Customers can withdraw value off of Uphold into a bank account up to $12,000 annually for free of cost, a fee of 0.5% will apply thereafter.
Also, the company is planning to launch similar functionality across India and China, along with other capabilities such as Visa, MasterCard and Discover digital and physical cards eventually.
Uphold president and CEO Anthony Watson said: "Our members deserve a better way to access their hard earned money, faster and without unnecessary fees. Whether saving on checking fees, sending money abroad to family and friends, or handling international business transactions, Uphold is faster and cheaper than traditional services — and entirely more transparent. We are changing the status quo of financial services."
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By GlobalDataThe company added that the new service can be currently accessed by registered and verified members in approved US states and other countries.
