Has anyone used their service? Any feedback? Are they legit or yet another scam?
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Xapo Bank Real Deal or Total Steal? Unveiling the Truth Behind the Buzz: Share Your Experiences Now!
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Yeah. Germany to Gibraltar and back, own name transfer - just to test. Works fine, instant. About 0.5% lost on foreign exchange (Xapo converts everything to USD).
I wanted to create an account with them since quite a while but never really got to it. Really seems not that good of a deal anymore, especially if handle most of your payments in € or £. When looking at it at first I remembered a price of 250$ a year which seemed more than fair but quadrupling the price within a year for or more less the same service doesn't seem to reasonable.
I have use XAPO for about a year. Payments go through without a problem. Almost every day I send and receive transfers via SEPA instant.
As disadvantages I note:
- only SEPA, SEPA Instant, FasterPayments, and FedWire and ACH actually accept payments. SWIFT transfers are not accepted.
- Everything is automatically converted to USD and a small amount is lost (about 0.25%).
- The cards are not available to EU citizens. They promise that next month they will be available.
- The fee of $1000 per year for new customers. Old ones for 2 years remain at $150.
yeah they can ask. Ive met a few folks hit by all kind of questions.
Xapo recently announced a new partnership with FalconX, claiming that it brings institutional pricing for bitcoin, with lower fees: https://www.xapobank.com/en/blog/bitcoin-trading-institutional-pricing-falconx
I can tell you with certainty this is the exact opposite. I have been buying bitcoin hundreds of times with Xapo, in small quantities, with a close monitoring of the price on Kraken. Since their announcement, their spread has doubled. It was about 2 x 65$ before (buying price 65$ above actual price, and value in Xapo 65$ below actual price). Now, it is about 2 x 130$. What a joke!
I can tell you with certainty this is the exact opposite. I have been buying bitcoin hundreds of times with Xapo, in small quantities, with a close monitoring of the price on Kraken. Since their announcement, their spread has doubled. It was about 2 x 65$ before (buying price 65$ above actual price, and value in Xapo 65$ below actual price). Now, it is about 2 x 130$. What a joke!
The issue was quickly solved in less than 24h:
You recently requested access to USD transfers via the ACH Network. I am pleased to confirm that the access has been enabled.
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