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.