Xapo Bank Real Deal or Total Steal? Unveiling the Truth Behind the Buzz: Share Your Experiences Now!
- Thread starter Why
- Start date
- Status
Actually it says that the annual fee will be $150 if you maintain the balance of at least 2 BTC. Nevertheless it's getting too expensive for my liking. I'm not interested in paying $1K just for the privilege. They will probably lose many customers because of this.
This reminds me of the Louis CK bit, "you didn't pay for the movie, you paid for the ticket" lol
Made 5 digits GBP transfers with no problem, it gets posted on IBKR in less than 1 hour. Anybody tried with the new ACH USD option?
New how? Is it different from their usual Bridge ventures ACH where you can only send from your own accounts to Xapo?
I swear to god if this is what they call "new features" to justify the $1k fees I'm withdrawing everything and cancelling my account on the spot lol.
Payoneer offers a better service ACH wise, at least you can deposit from different companies not just your personal accounts.
I was thinking maybe third party deposits, maybe even SWIFT (with some restrictions) ...
I mean will wait and see I guess, I'm not paying that fee for a bitcoin custody service if I'm holding under 100k with them. Fidelity is cheaper at 0.35% of assets or I'll use Etana.
Last edited: Sep 5, 2024
please god spare them of getting swift. I pray they never add swift.
Id expect lending and borrowing coming soon.
They have SWIFT for a long time and they even used to process USD SWIFT in the past.
No one wants to be their correspondent though, it seems.
Pretty likely.
yeh in the past yes, but now where do you see they have swift? They dont, Its even stated. and its better they do not.
swift is the ducker org which is largely responsible for all this compliance mess. The faster countries get rid of this s!it the better it is.
what is your nationality / residency and how/what kind of crypto did you deposit?
If you answer this, we can tell you why this happened.
It seems that IBKR stopped processing GBP/EUR withdrawals coming from my account Xapo as Gibraltar is now a "restricted" country and I have no connection with it. It lasted 10 months.
Now I'm dealing with their compliance, hopefully there'll be no problems with USD deposits. I'll try next week and report my experience here. Honestly it's also time to explore some alternatives since I'm not in the mood to pay 1000$ annual fee.
That's what I was saying and nobody was listening .. A bank in Switzerland told me they can't send SEPA to Gibraltar anymore .. So maybe transfers are going through now, but that won't last ..
And yes they already transitioned to 1k per year .. I'm still waiting for all these new features they promised to be unvealed .. Hopefully SEPA not working is not the feature they were talking about ...
- Status