Xapo Bank Reviews 1,106

Good company and very trustworthy so far.

direct access to storage and loan secured on bitcoin
I plan to apply for credit card in a few months - good option to have bitcoin and change it to USD.

Problem is lack of possibility to make transfer of USD to Europe

My experience has been great due to Xapo Bank's seamless digital banking platform, excellent customer support, and focus on security. The company excels in providing user-friendly crypto and fiat services, transparent fee structures, and fast transactions.

I’ve been a customer of Xapo Bank for some time, and I was initially drawn to their unique services. However, with the recent increase in the annual fee to $1000, it's clear that their pricing strategy has gone terribly wrong. What was once a standout service is now overshadowed by more affordable alternatives. This kind of drastic price hike feels unreasonable, especially when there are now other options that offer similar, if not better, services. Very disappointing

Sorry, It was a not good review, but part it was my fault! Your emails (XAPO BANK) start to go to span, without any reason.
Thank you

I was at the point of opening an account, but some of the reviews of transactions mismanaged and deposits returned or going astray and especially the $1000 annual bank fee turned out to be a dealbreaker. It looks like performance is an issue. The offering is attractive, but it seems Xapo Bank cannot perform well on their offering.

This bank provides outstanding services for cryptocurrency deposits! The deposit speed is fast, transactions are stable, and there are no hidden fees, making the process truly efficient and convenient. Compared to traditional banks, they are more crypto-friendly, supporting multiple currency exchanges and offering great convenience to users.

You held up a large transaction without telling me. Whilst I fully support security checks it is paramount that you inform your customers if a payment has not gone through, not ask them for information 48 hours later , saying that you will 'review' this information , again without giving me a time scale for the review.

All worked as expected. Credit card activity log is super useful. Pause/Unpause card is too.

Xapo make me feel safe storing my bitcoins.
It's a regulated bank so trus worthy by banks in my country.

$1000 a year for the most shocking disgustingly slow compliance I’ve ever experienced. Have moved hundreds of euros through this bank, but one Bitcoin connected transaction and now every transfer, regardless of whether they’re connected to crypto or not, takes weeks. Even after all evidence has been provided to the bank. Would never recommend.

so far so good and will keep usiong it

Highly professional and helpful staff which helped to balance the painfully slow time that the initial transactions and transfers took.

The fast response and the willing to dive the problems. Didn't give five stars just because we need Apple pay, or Google. It's more for safety. Less chance of Ben clone the card. As far as I know

XAPO was good at 15 usd per month, solid 4 out of 5,
but now fees are at 1000 usd per annum,
and that is just crazy, not worth it

, Attorney Michele Scognamiglio, am writing to urgently follow up on the unresolved matter of the unjustified freezing of my account, which has remained blocked since September 6, 2024. Despite my full cooperation and the timely provision of all requested documentation, almost 5 months have passed without any resolution, release of funds, or satisfactory explanation for this prolonged delay.

Your most recent communication, dated November 26, 2024, failed to provide any substantial updates or clarity regarding the progress or status of the reviews. I must once again reiterate the following:
1. Request for Account Balance and AML Details:
To date, I have not received a clear and detailed statement of my account balance, nor have I been provided with any information on the ongoing AML (Anti-Money Laundering) verifications. I reiterate my demand for an immediate statement of my account balance and a comprehensive update on the monitoring or verification activities causing this block.
2. Complaint to the GFSC:
Due to your continued inaction and non-compliance with applicable AML regulations, I have formally lodged a complaint with the Gibraltar Financial Services Commission (GFSC). I remind you that failure to adhere to Enhanced Due Diligence (EDD) timelines constitutes a clear breach of industry regulations and your Terms and Conditions.
3. Timeliness and Regulatory Compliance:
AML regulations mandate that verifications and account freezes must be conducted within reasonable and justified timeframes. The disproportionate and unjustified delay in resolving this matter constitutes a violation of my rights and Xapo Bank’s regulatory obligations.

After nearly 5 months of inaction, this delay is not only unacceptable but also a breach of fundamental client rights. I hereby demand:
• An immediate and detailed response regarding the status of my account.
• The release of the blocked funds without any further delay.

Should this matter remain unresolved by January 10, 2025, I will have no choice but to pursue additional legal actions and further escalate my complaint through the Alternative Dispute Resolution service to safeguard my rights.

I trust that Xapo Bank understands the gravity of this situation and will take prompt steps to resolve this issue in full compliance with applicable regulations.

Scamers They closed my account and stole my money.

UPDATE: FEBRUARY 2025
I am extremely frustrated with Xapo Bank’s lack of responsiveness and transparency. After banking with them for at least 3-5 years, they suddenly closed my account without any explanation. When I requested access to my remaining funds (a substantial five-digit amount), they asked me to provide EUR or IBAN account details for the transfer. I complied, but they refused to send the funds to that account and instead demanded details of a different bank account—which I do not have.

To make matters worse, I recently discovered that I can no longer access my Xapo account, yet they continue to hold my funds without providing a clear resolution. It has now been nearly two months, and I still do not have access to my money.

Their response on Trustpilot, directing users to contact specific email for support, is completely ineffective. I have been in direct communication with their team through prior email channels for years, yet they only reply once every two weeks with vague statements that they are “working on my problem.” What is there to work on? These are my funds—release them!

This situation is unacceptable. I demand immediate action and a resolution from Xapo Bank. Holding customers’ funds hostage without clear justification or responsiveness is not only unethical but potentially unlawful.

December 2024

Last month, as a long-time Xapo customer, I had to go through a reverification process. It was a slow process, but I successfully passed verification.

However, last week, I made a routine GBP transfer from Xapo to my other account—my own account—and Xapo froze the transaction. It has now been a week, and they keep telling me their team is "working on it," without providing any further explanation.

I then attempted to send a small amount in BTC to my self-custody wallet, but they froze that transaction as well.

This is unacceptable and highly disrespectful, especially considering that I have been a loyal customer for multiple years.

As of December 2024, Xapo has lost my trust. I still do not have access to my own funds to transfer.

Xapo has been holding my money since 3 of July this year. Basically I’m freelancer who does marketing and I send an invoice to my client with my Xapo IBAN and never recieved that payment. Then Xapo asked me about the transfer and I explained and sent the invoice and they told me they can’t accept that payment and that they have to refund it back to the client. I contacted my client and he told me that it’s not a problem and that he can send it to other account. But since then I have been sending mails and mails with responses like “our specialized team is working on it” and similar. In total I have sent about 50 mails and they still didn’t refund that money back.

Update as of 03/01/2025:

They still didn’t send that money, all of their answers to mails are general like: “we have our team working on it”.