My experience with Xapo Bank has been nothing short of a nightmare from start to finish. They blocked my account without providing any legitimate explanation, preventing me from accessing my funds for over 30 days. Despite fully complying with all their requests and adhering to anti-money laundering (AML) regulations, their customer support has been completely unresponsive, offering only vague answers and continuous excuses, citing supposed “regulatory reviews.”Not only did they fail to clarify the reason for freezing my account, but they also requested additional information (such as an IBAN) and then did not proceed with transferring my funds. Their handling of the situation grossly violates the enhanced due diligence (EDD) timeframes as required by law. The lack of transparency is appalling, and there is no consideration whatsoever for their customers.I am seriously considering taking legal action against this bank to protect my rights and reporting their irregular practices to the relevant regulatory authorities. If you value the security of your funds and expect a professional banking service, avoid Xapo Bank at all costs.An absolutely dreadful experience that I strongly advise everyone to steer clear of!
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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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