Xapo Bank Real Deal or Total Steal? Unveiling the Truth Behind the Buzz: Share Your Experiences Now!

[RobertNozick]

There's so much useful info here, thank you again to everyone for sharing your experience. I've a last question: which is their policy regarding third party deposit/withdrawals?

Also, do they ask for rigorous Proof of Funds or other supporting documentation for large crypto deposits?

Last edited: Apr 4, 2024

 

[vehzag]

RobertNozick said:
There's so much useful info here, thank you again to everyone for sharing your experience. I've a last question: which is their policy regarding third party deposit/withdrawals?

Also, do they ask for rigorous Proof of Funds or other supporting documentation for large crypto deposits?
Click to expand...

+ same question

 

[PinkCat]

RobertNozick said:
There's so much useful info here, thank you again to everyone for sharing your experience. I've a last question: which is their policy regarding third party deposit/withdrawals?

Also, do they ask for rigorous Proof of Funds or other supporting documentation for large crypto deposits?
Click to expand...

Well i specifically asked them to go through the SoF process in the very beginning before depositing anything, to avoid the inconvenience of having my account/wire out frozen for couple of weeks when they decide to do it on a whim but they denied and told me it will be done whenever needed. So I'm pretty sure when i start using them and need to do 6 figures + wire it will be on hold for couple of weeks so for now I'm hodling off using them since I have better alternatives anyway.

 

[stronco]

I've done 6 figure wires and there were no "holds for a couple of weeks".

 

[drolive0]

I am starting using it. They send their debit card even to Panama! Fairly unique, I think. Indeed 1.1% cashback. Easy to send USD stablecoins.

As I pointed out in another thread, Wise support told me it is not possible to transfer from Wise to Xapo because of crypto services in Xapo... I am not 100% sure of what they say, because talking to these people at Wise support looked like talking to ChatGPT. Anyone here sending to Xapo from Wise?

I get my incomes with Wise, and I would like to send them to Xapo without losing too much in between. That's quite a problem for me.

 

[ilke]

drolive0 said:
As I pointed out in another thread, Wise support told me it is not possible to transfer from Wise to Xapo because of crypto services in Xapo... I am not 100% sure of what they say, because talking to these people at Wise support looked like talking to ChatGPT. Anyone here sending to Xapo from Wise?

I get my incomes with Wise, and I would like to send them to Xapo without losing too much in between. That's quite a problem for me.
Click to expand...

I have received from Wise to Zenus Bank and Xapo Bank, both I didn't experience issues with.

However, Wise is not the most reliable platform, and I do my best to avoid it. They might only take action on the rules being broken sometimes.

You could probably try Zenus and then Xapo, but the issue is that Wise will only send to their CHF details. They reject the US, Puerto Rico and EU accounts. Or use some EU EMI in between (Wise SEPA there, then SEPA to Xapo)

 

[EliasIT]

Maybe it is better to write to their support and repeat the question until you get something from a real person!

It's not advisable to send money from Xapo to Wise and just cross your fingers every time hoping everything goes smoothly. It's better to ask until you get a proper answer that you can use for documentation in case something does go wrong.

Toggle signature
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.

 

[stronco]

I have done Xapo to Wise, one time, small amount, it was OK.

IMO Wise doesn't care if its "crypto related" as long as it's coming from account in your name.

 

[drolive0]

EliasIT said:
Maybe it is better to write to their support and repeat the question until you get something from a real person!

It's not advisable to send money from Xapo to Wise and just cross your fingers every time hoping everything goes smoothly. It's better to ask until you get a proper answer that you can use for documentation in case something does go wrong.
Click to expand...

You are absolutely right. When I said the interaction with Wise support looked like an interaction with ChatGPT, it is because they do not understand well, and you need to insist before getting a proper answer. But they made various spelling errors, so they were humans. Since they were so slow, I am not sure they made the correct answer, especially now that others report having made transfers between Wise & Xapo. Confusing!

 

[PinkCat]

stronco said:
I've done 6 figure wires and there were no "holds for a couple of weeks".
Click to expand...

Good to know. Have you been SoFed before that though?

 

[stronco]

PinkCat said:
Good to know. Have you been SoFed before that though?
Click to expand...

Just at the time of on-boarding. I do not recall the details tho, its been a while.

Needless to say YMMV.

 

[lory]

stronco said:
Btw, I earned over 30k USD with them via their Earnings program;

USD interest currently at 4.5%, no lock in
BTC interest currently at 1% (only up to 5 BTC now tho)
referrals (have only 1)
card cashback up to 1.1%


And as far as I understand they are going to raise their monthly/annual fees soon. Them losing SWIFT was a blow yes, but eventually it will most likely come back. SEPA works well. And FX rates are a++.
Click to expand...

are you still doing good with Xapo ?

 

[bizman]

I've been using their service for many years, except for the periods when they didn't have any service to offer, but otherwise, I've always been very satisfied. They have a high level of credibility.

Toggle signature
The reason to fail while you try to setup your business offshore....the guide that helped me setup my offshore company.

Wiseman sayings - May the gifts of three wise men fill your home with prosperity.

 

[RobertNozick]

It seems that IBKR (JPMorgan) stopped processing EUR/GBP deposits from Xapo due to "Regulatory Reasons", any other reports?

 

[Marshal]

Works fine for GBP withdrawals/deposits with UK banks. Can't say much about EUR.

 

[PinkCat]

can you wire out EUR via Xapo right now?

 

[linusAG]

PinkCat said:
can you wire out EUR via Xapo right now?
Click to expand...

Instant SEPA works last weekend

 

[Codycm]

RobertNozick said:
It seems that IBKR (JPMorgan) stopped processing EUR/GBP deposits from Xapo due to "Regulatory Reasons", any other reports?
Click to expand...

I tried an Instant SEPA today and it did not work. "rejected by the beneficiary's bank due to Regulatory reasons."
I thought it was the final bank who was in cause but maybe it is linked ?

 

[EliasIT]

Initiated a wire it is on hold right now!

Toggle signature
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.

 

[JackAlabama]

EliasIT said:
Initiated a wire it is on hold right now!
Click to expand...

snap that looks not good. Keep us posted on how it goes.
Looking at old reddit posts, that venture looks not good at all.
However I heard no complaints from the recent past.