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?

 

[JackAlabama]

They look like a very responsive bank with lot's of potential to grow in the market.

theyd better be one for a 1000 usd a year fee

 

[PinkCat]

they just removed the 100k eur outgoing wire limit which is nice

 

[alain]

How much is the limit after the removal ?

 

[PinkCat]

How much is the limit after the removal ?

no limit, but over 300k eur will be delayed because it will go through another bank or something like that (by memory)

 

[alain]

no limit, but over 300k eur will be delayed because it will go through another bank or something like that (by memory)

you had 300K in Xapo and wired it to another bank, regardless how it should have arrived by now, can you confirm ?

 

[PinkCat]

you had 300K in Xapo and wired it to another bank, regardless how it should have arrived by now, can you confirm ?

That is what they said in an email update, i haven't tested it. Here I found the email for you:

We wanted to let you know that you will experience some delays when making GBP transactions between 8th and 11th November 2024 as we transition to a new payment provider. We’re working to minimise the disruption and to keep everything running smoothly.
In the meantime, we’re thrilled to share a new update that gives you even more freedom over your funds. The 100,000 withdrawal limit is now lifted, so you can withdraw as much as you’d like, whenever you’d like.
GBP, EUR, USD, USDT and USDC withdrawals up to 300,000 will be processed by Xapo Bank directly, while larger amounts (or cumulative withdrawals over 300,000 within 24 hours) will take just one business day. And, of course, there are no limits for Bitcoin withdrawals.

 

[samhamdan84]

Anyone knows what is their conversion rate EUR to USD?

 

[PinkCat]

@samhamdan84 did some USD to EUR yesterday and their rate was 0.3% below the rate google gives when you search for usd to eur (which I believe is the interbank average rate) so I guess it's good.

Some more unrelated info.
Even if they announced they ditched the 100k eur sepa wire out limit, their interface doesn't know that yet because it doesn't allow you to enter amount over 100k
Also when wiring to a german bank every wire above 25k eur was almost instantly rejected by the recepient bank (thanks sepa instant for getting that feedback that fast though) however 4x25k eur wires went just fine.
So you can't wire 100k but you can wire 4x25k, ah so tired of those stupid banks.

 

[russelw65]

Any more recent reviews on Xapo?

The customer service has been super responsive and they certainly want my business (so many emails!).

 

[lory]

Have used the company for only short time, I can't say anything bad so far about Xapo. Back years ago when used them they were good and the operation went smooth, same feeling now.

 

[russelw65]

Thanks. I see they are registered in Gibraltar. Is that part of the UK? And therefore under UK tax? My knowledge is limited on the location.

 

[daniels27]

Thanks. I see they are registered in Gibraltar. Is that part of the UK? And therefore under UK tax? My knowledge is limited on the location.

Gibraltar is a British Overseas Territories. It does not follow UK tax rules. They have their own taw laws. The have a branch there. You can walk in, the house is open.

 

[Houdini]

my account was closed this morning when tried to login, no reason yet have been contacting them to learn what went wrong

 

[JackAlabama]

my account was closed this morning when tried to login, no reason yet have been contacting them to learn what went wrong

wtf whats that?

 

[JohnnyDoe]

my account was closed this morning when tried to login, no reason yet have been contacting them to learn what went wrong

Don’t be upset, no bank is safe and monkey-free. Always leave in a bank (anny bank) only money you can afford to lose.
Let us know when you receive your money back and how (crypto or fiat).

 

[JohnnyDoe]

Btw, a few days ago I warned Xapo that I would have received a 100k Eur deposit, preventively sent them full info and supporting documentation on it and asked if everything was ok. They confirmed they got all what they needed and that there are no issues with receiving such type of deposits.
Chat screenshot from last week:

Surely enough, today they sent me an email asking for Information on the deposit (the same info they already got plus more). The money has been put on hold pending review.
today’s chat:

 

[JackAlabama]

Btw, a few days ago I warned Xapo that I would have received a 100k Eur deposit, preventively sent them full info and supporting documentation on it and asked if everything was ok. They confirmed they got all what they needed and that there are no issues with receiving such type of deposits.
Chat screenshot from last week:

View attachment 8628

Surely enough, today they sent me an email asking for Information on the deposit (the same info they already got plus more). The money has been put on hold pending review.
today’s chat:
View attachment 8629

terrible. But xapo comes with the added "benefit" of charging 1000 usd a year, to not have access to your money

 

[JohnnyDoe]

100k still stuck:

Xapo seemed ok as long as I was moving 10-20k.
The first 100k deposit unleashed the monkeys.

 

[PinkCat]

@JohnnyDoe I understand your frustration with them, but from my humble experience with monkeys, your attitude isn't helping at all

I had some questions from them AFTER I wired 100k+ away, but just submitted the relevant contract and never heard from them again, account currently seems in good standing.

 

[JohnnyDoe]

@JohnnyDoe I understand your frustration with them, but from my humble experience with monkeys, your attitude isn't helping at all

Monkeys don’t care about attitude, it literally makes no difference if you are rude (which I never am) or condescending.

I had some questions from them AFTER I wired 100k+ away, but just submitted the relevant contract and never heard from them again, account currently seems in good standing.

Lucky you. In my case, I tried to prevent questions by submitting documentation BEFORE receiving the deposit. They confirmed that everything was in order, that they have no issues with such kind of deposits and that I could send more. They lied.

Can you entrust liars with your money?