Xapo Bank Real Deal or Total Steal? Unveiling the Truth Behind the Buzz: Share Your Experiences Now!

[Why]

Has anyone used their service? Any feedback? Are they legit or yet another scam?

 

[JosephLL]

Insanity. Pay $1000 for a privilege of bending over with kyc. For that money I can have a card in the name of my choosing

 

[Marshal]

I have just received the email too, they have gone completely mad, I have seen 2 different versions of the email. One is the same one you shared and another says that if you have a balance of at least 2BTC they will waive the $150 annual fee.

Actually it says that the annual fee will be $150 if you maintain the balance of at least 2 BTC. Nevertheless it's getting too expensive for my liking. I'm not interested in paying $1K just for the privilege. They will probably lose many customers because of this.

 

[drolive0]

Xapo services are all right, but the cost of 150$ per year is rather high already. At 1000$, not many people will stay. Maybe they are starting a transformation and will drop retail accounts, unless paid a lot to keep them.

 

[nme123]

signed up with xapo. they took my membership fee and crypto deposit. then few days later they closed my account (with no reason, i hadnt even used it yet) and im waiting for support response now more than a week about my funds being returned.

 

[Edge]

signed up with xapo. they took my membership fee and crypto deposit. then few days later they closed my account (with no reason, i hadnt even used it yet) and im waiting for support response now more than a week about my funds being returned.

This reminds me of the Louis CK bit, "you didn't pay for the movie, you paid for the ticket" lol

 

[cobewi8981]

Do ibkr accept transfers from xapo?

 

[PinkCat]

signed up with xapo. they took my membership fee and crypto deposit. then few days later they closed my account (with no reason, i hadnt even used it yet) and im waiting for support response now more than a week about my funds being returned.

are you shady?

 

[RobertNozick]

Do ibkr accept transfers from xapo?

Made 5 digits GBP transfers with no problem, it gets posted on IBKR in less than 1 hour. Anybody tried with the new ACH USD option?

 

[cobewi8981]

Cool, does anybody have experience with EUR transfers to ibkr?

 

[Edge]

Anybody tried with the new ACH USD option?

New how? Is it different from their usual Bridge ventures ACH where you can only send from your own accounts to Xapo?

 

[RobertNozick]

New how? Is it different from their usual Bridge ventures ACH where you can only send from your own accounts to Xapo?

Yes but I have a personal deposit account number now

 

[Edge]

Yes but I have a personal deposit account number now

I swear to god if this is what they call "new features" to justify the $1k fees I'm withdrawing everything and cancelling my account on the spot lol.

Payoneer offers a better service ACH wise, at least you can deposit from different companies not just your personal accounts.

I was thinking maybe third party deposits, maybe even SWIFT (with some restrictions) ...

I mean will wait and see I guess, I'm not paying that fee for a bitcoin custody service if I'm holding under 100k with them. Fidelity is cheaper at 0.35% of assets or I'll use Etana.

 

[JackAlabama]

I swear to god if this is what they call "new features" to justify the $1k fees I'm withdrawing everything and cancelling my account on the spot lol.

Payoneer offers a better service ACH wise, at least you can deposit from different companies not just your personal accounts.

I was thinking maybe third party deposits, maybe even SWIFT (with some restrictions) ...

please god spare them of getting swift. I pray they never add swift.

Id expect lending and borrowing coming soon.

I mean will wait and see I guess, I'm not paying that fee for a bitcoin custody service if I'm holding under 100k with them. Fidelity is cheaper at 0.35% of assets or I'll use Etana.

 

[ilke]

please god spare them of getting swift. I pray they never add swift.

They have SWIFT for a long time and they even used to process USD SWIFT in the past.

No one wants to be their correspondent though, it seems.

Id expect lending and borrowing coming soon.

Pretty likely.

 

[JackAlabama]

They have SWIFT for a long time and they even used to process USD SWIFT in the past.

yeh in the past yes, but now where do you see they have swift? They dont, Its even stated. and its better they do not.
swift is the ducker org which is largely responsible for all this compliance mess. The faster countries get rid of this s!it the better it is.

No one wants to be their correspondent though, it seems.

Pretty likely.

 

[lory]

signed up with xapo. they took my membership fee and crypto deposit. then few days later they closed my account (with no reason, i hadnt even used it yet) and im waiting for support response now more than a week about my funds being returned.

strange they want to ruin their business like this!

 

[JackAlabama]

signed up with xapo. they took my membership fee and crypto deposit. then few days later they closed my account (with no reason, i hadnt even used it yet) and im waiting for support response now more than a week about my funds being returned.

what is your nationality / residency and how/what kind of crypto did you deposit?
If you answer this, we can tell you why this happened.

 

[dany]

Made 5 digits GBP transfers with no problem, it gets posted on IBKR in less than 1 hour. Anybody tried with the new ACH USD option?

so IBKR is fine with Xapo, no freezing and so on ?

 

[RobertNozick]

so IBKR is fine with Xapo, no freezing and so on ?

It seems that IBKR stopped processing GBP/EUR withdrawals coming from my account Xapo as Gibraltar is now a "restricted" country and I have no connection with it. It lasted 10 months.

Now I'm dealing with their compliance, hopefully there'll be no problems with USD deposits. I'll try next week and report my experience here. Honestly it's also time to explore some alternatives since I'm not in the mood to pay 1000$ annual fee.

 

[Edge]

It seems that IBKR stopped processing GBP/EUR withdrawals coming from my account Xapo as Gibraltar is now a "restricted" country and I have no connection with it. It lasted 10 months.

That's what I was saying and nobody was listening .. A bank in Switzerland told me they can't send SEPA to Gibraltar anymore .. So maybe transfers are going through now, but that won't last ..

And yes they already transitioned to 1k per year .. I'm still waiting for all these new features they promised to be unvealed .. Hopefully SEPA not working is not the feature they were talking about ...