Review Time
My experience with Xapo Bank has been the worst banking experience I have ever had, and I have full documentation and screenshots to prove everything.
I paid $1,000 for the Xapo Bank subscription, expecting a professional and reliable service. Instead, I encountered constant delays, misinformation, and blocked withdrawals.
I attempted my first BTC withdrawal to my external wallet, but the transfer was immediately stopped. I was then asked to complete a Zoom verification, which I did. After completing the verification, I had to wait 6 days for the withdrawal to be processed. During that time, my Bitcoin was kept on hold by Xapo, and the BTC price moved against me, causing me to lose money simply because they would not release my funds.
On March 14, I attempted a second withdrawal. Once again, the transfer was placed on hold. After waiting about 5 hours, I contacted chat support. The support agent, Camilla, told me that the withdrawal was completed. I have screenshots of this conversation as proof.
However, the funds never arrived in my wallet.
When I checked again on Monday, I discovered that the transaction had been cancelled without any explanation. After contacting support again, they told me that withdrawals to external wallets are currently not available.
This is completely unacceptable. I have wasted more than 10 days dealing with this situation and lost money due to Bitcoin price fluctuations while my funds were being held by them.
Based on my experience, the service is extremely unreliable. The support is slow and inconsistent, and I was given incorrect information by their representative.
I will be filing formal complaints and reports regarding this situation, as customers deserve transparency and access to their own funds without unnecessary delays or misleading communication.
My experience with Xapo Bank has been the worst banking experience I have ever had, and I have full documentation and screenshots to prove everything.I paid $1,000 for the Xapo Bank subscription, expecting a professional and reliable service. Instead, I encountered constant delays, misinformation, and blocked withdrawals.I attempted my first BTC withdrawal to my external wallet, but the transfer was immediately stopped. I was then asked to complete a Zoom verification, which I did. After completing the verification, I had to wait 6 days for the withdrawal to be processed. During that time, my Bitcoin was kept on hold by Xapo, and the BTC price moved against me, causing me to lose money simply because they would not release my funds.On March 14, I attempted a second withdrawal. Once again, the transfer was placed on hold. After waiting about 5 hours, I contacted chat support. The support agent, Camilla, told me that the withdrawal was completed. I have screenshots of this conversation as proof.However, the funds never arrived in my wallet.When I checked again on Monday, I discovered that the transaction had been cancelled without any explanation. After contacting support again, they told me that withdrawals to external wallets are currently not available.This is completely unacceptable. I have wasted more than 10 days dealing with this situation and lost money due to Bitcoin price fluctuations while my funds were being held by them.Based on my experience, the service is extremely unreliable. The support is slow and inconsistent, and I was given incorrect information by their representative.I will be filing formal complaints and reports regarding this situation, as customers deserve transparency and access to their own funds without unnecessary delays or misleading communication.
I have been a truly satisfied customer of the bank for almost 2 years. I have had a relatiely significant movements on my account. At one moment they have asked me by email and thru XAPO APP to provide them with my wealth report such as incomes, net worth etc. I found this request odinary, reasonable and eligible so I have really did my best to provide them with as much documents and official free access government web links as I could. I have truly thought that I had been even more willing to share my sensitive datas as I should have had to be. But suddenly, unexpectedly, without giving any eligible reason they blocked my account services. They have kept me asking really meaningless additional questions, undefinite general requests. But I had treated those additional requests with a respect and following I have had provided them with as much additional information as I could. Unfortunately they have kept requesting again and again already submitted things without any explainable reason. That was the moment when I realised that they are whether professionaly incompetent or have just started a process tipically characteristic for a so called official scam exchange platforms when at a certain moment they just block you and citing official reasons they endlessly apologise and request something same or similar until you are losing your patience. This is the real current situation with XAPO BANK in my case and I am just wondering why they are doing this. I was really convinced that they are a trusted bank with an UK passport but it seems that they are a kind of private semi scam hybrid financial company dancing on the edge of the reliability and even legality. You can receive emails from Pedro, Sebastian, Ana but does not matter, sometimes they are linked and consistent, but sometimes they are not synchronised and apologise for asked you second, third time already submitted information. I do not know, they can be hired part time students working remotely from home anywhere in the world. One last thing, I have personally visited XAPO BANK in Gibraltar and met with Mr. Rocca, a head of IT security and company accounts (if I remember well) and I had a good impression. Anyhow, now I have to draw a disappointing conclusion that if you plan a reliable long term banking, avoid XAPO BANK.
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Xapo Bank is the first fully licensed, Bitcoin-enabled bank that combines the security of traditional banking with access to Bitcoin and stablecoins. Regulated by the Gibraltar Financial Services Commission, Xapo Bank facilitates wider use cases for crypto by providing simple and secure ways to store, save, earn and transact in fiat and crypto across borders 24/7.
Established in 2013, Xapo Bank was founded on the belief in the long-term potential of Bitcoin. As the first crypto company in the world to be awarded a banking license, Xapo Bank has since evolved from an e-money wallet into a digital-first bank. Xapo Bank’s proprietary technology provides a seamless bridge between traditional finance and digital assets. Following the sale of its institutional custody business to Coinbase‘s custody arm in 2019, Xapo Bank pivoted to service solely retail customers, focusing on the protection, growth and diversification of wealth.
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