Wise transfers from and to Xapo

[drolive0]

Hello,

Does anyone know whether Wise accepts transfers from or to Xapo? Since Xapo has crypto services, I wondered whether that was a problem for Wise.

Thanks!

 

[csp dubai]

forget them their complaince i as brunch of idiots, you willl loos your time only

 

[clemens]

Well, they accept from kraken so why not from Xapo, I would ask Wise's support to avoid any troubles.

 

[drphantom]

Can work well, do it a few times a months with small amount 2000 - 5000 euro each time.

 

[Marshal]

I don't see why it should be a problem. Xapo gives you a named bank account, so you will be transferring money between your accounts within SEPA.

 

[drolive0]

I have just asked to Wise support directly.

The reply is that Wise is unable to receive funds from Xapo Bank or send funds to Xapo Bank. They explain that Xapo Bank gives access to cryptocurrencies services, and Wise cannot act as a potential direct or indirect support to operations in cryptocurrencies.

They say there is an exception when the crypto platform is regulated and/or supervised in the EU or UK. Maybe the fact that Gibraltar is not anymore in EU has changed things?

Their support looks pretty brainless. So I am not sure it can be trusted. Be careful, though.

 

[JackAlabama]

I have just asked to Wise support directly.

The reply is that Wise is unable to receive funds from Xapo Bank or send funds to Xapo Bank. They explain that Xapo Bank gives access to cryptocurrencies services, and Wise cannot act as a potential direct or indirect support to operations in cryptocurrencies.

They say there is an exception when the crypto platform is regulated and/or supervised in the EU or UK. Maybe the fact that Gibraltar is not anymore in EU has changed things?

Their support looks pretty brainless. So I am not sure it can be trusted. Be careful, though.

yup wise monkeys are braindead which has been documented countless times here.

 

[RobertNozick]

I don't see why it should be a problem. Xapo gives you a named bank account, so you will be transferring money between your accounts within SEPA.

Which is the name of Xapo's corrispondent bank? Are you sure that wire deposits will be in my own name with no mentions to XAPO?

 

[Marshal]

Which is the name of Xapo's corrispondent bank? Are you sure that wire deposits will be in my own name with no mentions to XAPO?

I believe your question has been already answered in another thread.

 

[jayM]

I believe your question has been already answered in another thread.

what thread ?

 

[Marshal]

what thread ?

https://www.offshorecorptalk.com/th...-share-your-experiences-now.44619/post-299239

 

[HelloMyDroogs]

A client tried to pay my Wise US LLC account and I received a warning and the money was returned. So I would say no you cannot receive payments these days.

 

[daniels27]

But how dirty was the money?

 

[Cooper]

Anecdotal, but I've sent/received money between Wise and Xapo Bank several times (however only small amounts) without issue. It's my understanding that it falls under Wise's exception of allowing transfers between Wise and crypto platforms which are licensed in the EU or UK. I've never actually talked to Wise's support about it though.

 

[drphantom]

So you say it is not allowed in regards to Wises terms or what do you mean? I would ask their support to avoid my funds stuck anywhere or account closure

Anecdotal, but I've sent/received money between Wise and Xapo Bank several times (however only small amounts) without issue. It's my understanding that it falls under Wise's exception of allowing transfers between Wise and crypto platforms which are licensed in the EU or UK. I've never actually talked to Wise's support about it though.

!

 

[drolive0]

I have just asked again to Wise support.

According to their support, they only allow to receive money from a platform that is regulated and/or supervised in the EU or UK. Xapo may or may not fall into that category. When you search for Xapo in FCA website, it says that "This firm is regulated in another European Economic Area (EEA) country and can offer certain products or services in the UK." This may not be enough.

Anyway, sending to Xapo seems to be forbidden in any case.

In another message, Wise support wrote me more clearly that they would not allow transfers to or from Xapo Bank if it deals with crypto transactions. Since Xapo Bank does...

My conclusion is that it is very risky to use Wise to send to or receive from Xapo Bank. Wise might decide to suspend or close your account for such use.