Xapo bank?

[AlicaFunk]

No US accounts with them, you need to put reference in there correct.

 

[JosephLL]

Does anyone have an idea who are the eligible countries? Monkeys from cust aupport @re keeping their mouth shut...

 

[alley]

Marie Manila said:
I was at the registered address in Gibraltar some years ago (when it still was an EMI).
There was nothing related to XAPO. No room and not even a postbox.

So I asked the neighbours. They told me they had never heard of XAPO. And they too started searching the mailbox with me. They couldn't find it either.

On the other hand: To my knowledge, they have never scammed anyone.
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It all speaks for them. A ghosted bank.

 

[vehzag]

And what if crypto totally legit but comes from 3rd people? They won't report CRS about this crypto (they only report fiat) and they won't ask for source of crypto funds came to to your Xapo account?

 

[jayM]

vehzag said:
And what if crypto totally legit but comes from 3rd people? They won't report CRS about this crypto (they only report fiat) and they won't ask for source of crypto funds came to to your Xapo account?
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I would not sleep well think so!

 

[RobertNozick]

Will I get a dedicated bank account? Originator wires will be in my name?
My main concern is that if I make a transfer from XAPO to my bank account they know I'm involved in crypto business and ask me further documentation.

meze99 said:
So this bank can be used to send GBP to Interactive Brokers? (Funded with USDC).
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Hey, have you already had the chance to try?

Last edited: Apr 3, 2024

 

[Marshal]

RobertNozick said:
Will I get a dedicated bank account? Originator wires will be in my name?
My main concern is that if I make a transfer from XAPO to my bank account they know I'm involved in crypto business and ask me further documentation.


Hey, have you already had the chance to try?
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It's a bank with it's own sort code and when you open an account with them you will get your own account number. They use Faster Payment System so transfers between UK banks will be instant and free. You will be able to transfer funds in GBP to any UK bank/building society. I don't deal with Interactive Brokers, but I believe funding your IB account from Xapo shouldn't cause any issues.

 

[Cooper]

ilke said:
Are they providing a dedicated US Acct. in your beneficiary name at Lead Bank?
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Updated answer to this in case anyone comes across it: They do now, but with limitations on transfers coming from third parties (can't be over $2k).

 

[Compliance Circle]

I personally believe Xapo has quite a decent offering, with

a) option to control your private keys;
b) inheritance features which some may find useful future-proof
c) deposits with APR in both BTC and fiat

However, as already mentioned here, their payment rails do not currently support SWIFT transfers, so your fiat experience would be only limited to ACH for USD, SEPA for EUR and Faster Payments for UK