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.
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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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