Xapo bank doesn't accept EU and US?
- Thread starter PinkCat
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I just went to their site to check if this could be true!
It looks like they want to avoid the EU and all their reporting stuff. I found Switzerland as one of the very few European countries they accept. All other countries are almost 3rd world countries like Western Sahara.
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It looks like they want to avoid the EU and all their reporting stuff. I found Switzerland as one of the very few European countries they accept. All other countries are almost 3rd world countries like Western Sahara.
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It's probably because of Brexit and restrictions of supply of financial services between EU and UK. Many companies prepared for it by getting licenses in both UK and EU, or partnering with someone on the other side.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
yes they just replied to my email saying that they shifted their business and for the time being don't plan to offer EU
wondering if those from EU who applied while they could are still kept as customers, anyone here?
Can anyone else confirm they accept EU now?
Any announcement from them somewhere? This is big if true.
The below is from Oct 2023 I believe they are boarding European customers
https://www.coindesk.com/business/2...-broker-license-will-offer-stocks-like-apple/
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
https://www.coindesk.com/business/2...-broker-license-will-offer-stocks-like-apple/
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
I remember posting on the forum Saturday night when fairly drunk, that's all I know, sorry
I think all clients have access to banking. But at the moment Xapo doesn't have a US correspondent bank, so they can't accept USD, just EUR and GBP. However, all their fiat balances are in USD, so if you send in GBP or EUR they are automatically converted to USD (at fair market rates). So, it's a somewhat sub-optimal situation.
Yes, their customer service is a top notch. Also eager to know the answer to your last question.
So far there are 2 draw backs
1. debit card is not yet available for my country
2. you can have only USD balance, so if you SEPA eur it is auto converted to USD and once you need to SEPA out it is converted back to EUR which is unnecessary and unefficient since you lose 2 times on the rate even if its interbank rate, you still lose, also USD is falling right now.
I'm not sure but I think they don't have SWIFT yet, so very cumbersome way to deal with SEPA and EUR because of the double exchange every time.
Not sure what use I have for them with this setup but will dig a lil further.
1. debit card is not yet available for my country
2. you can have only USD balance, so if you SEPA eur it is auto converted to USD and once you need to SEPA out it is converted back to EUR which is unnecessary and unefficient since you lose 2 times on the rate even if its interbank rate, you still lose, also USD is falling right now.
I'm not sure but I think they don't have SWIFT yet, so very cumbersome way to deal with SEPA and EUR because of the double exchange every time.
Not sure what use I have for them with this setup but will dig a lil further.
It's sad to see, I remember about 6 years ago you could just load your Visa or Mastercard with crypto. It was fully automatic. When you used the card in a machine or store, it would draw the funds at the current crypto rate on the card.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
That would be a very good idea if someone would do that please.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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