UPDATE: FEBRUARY 2025I am extremely frustrated with Xapo Bank’s lack of responsiveness and transparency. After banking with them for at least 3-5 years, they suddenly closed my account without any explanation. When I requested access to my remaining funds (a substantial five-digit amount), they asked me to provide EUR or IBAN account details for the transfer. I complied, but they refused to send the funds to that account and instead demanded details of a different bank account—which I do not have.To make matters worse, I recently discovered that I can no longer access my Xapo account, yet they continue to hold my funds without providing a clear resolution. It has now been nearly two months, and I still do not have access to my money.Their response on Trustpilot, directing users to contact specific email for support, is completely ineffective. I have been in direct communication with their team through prior email channels for years, yet they only reply once every two weeks with vague statements that they are “working on my problem.” What is there to work on? These are my funds—release them!This situation is unacceptable. I demand immediate action and a resolution from Xapo Bank. Holding customers’ funds hostage without clear justification or responsiveness is not only unethical but potentially unlawful.December 2024Last month, as a long-time Xapo customer, I had to go through a reverification process. It was a slow process, but I successfully passed verification.However, last week, I made a routine GBP transfer from Xapo to my other account—my own account—and Xapo froze the transaction. It has now been a week, and they keep telling me their team is "working on it," without providing any further explanation.I then attempted to send a small amount in BTC to my self-custody wallet, but they froze that transaction as well.This is unacceptable and highly disrespectful, especially considering that I have been a loyal customer for multiple years.As of December 2024, Xapo has lost my trust. I still do not have access to my own funds to transfer.
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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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