Xapo Bank
A licensed bank in Gibraltar that combines a US dollar account with bitcoin, for a $1,000 yearly membership. Eligible dollar deposits are covered by Gibraltar's deposit guarantee scheme up to £120,000; bitcoin is not. You can receive dollars by ACH and SWIFT, and euros and pounds by SEPA and Faster Payments, but everything lands in one USD balance. It doesn't accept people living in the US and 27 other countries. This verdict is based on Xapo Bank's own terms and help pages; we'll add what users say once there are enough reviews to score.
What’s good
- A licensed bank: dollar deposits covered up to £120,000 by Gibraltar's scheme
- 4.1% variable interest on USD savings, and 0% FX on card spending
- Receives money by ACH, SWIFT, SEPA and Faster Payments
Watch out for
- $1,000 a year to join, with no monthly option
- Not open to people living in the US and 27 other countries
- One USD balance only: euros and pounds are converted on arrival
—
Community score No score yet Worldwide
Opens from except 28 countries and territories Both
Account type People and companies What you need to open it
As a person
- PassportOne is enough; a passport alone works
- Proof of addressRequired
- SSN or ITINNot part of this sign-up
As a company
Typically within three weeks LLC Corporation Partnership Trust Foundation Family office
- Where the company is registeredNot published
- Owners living abroadNot published
- No EIN needed
- Registration or incorporation documents
- Key personnel identification
- Proof of business address
- Source of funds and wealth
- Authorised representative documents
✓ needed◐ sometimes asked– not needed? not published
Community score
—
Community score Not enough data What users say
Account safety Not enough data
Receiving money Not enough data
Fees and FX Not enough data
Support Not enough data
Products
Bank account details
Yes USD · ACH EUR · IBAN GBP · sort code SWIFT wires
Card
Yes Visa MasterCard Virtual ✓ Physical ✓ Apple Pay ? Google Pay ?
- Card fee
- $0 (metal card issuance)
- ATM
- Free up to $100/month, then 2%
Get paid by platforms
Not confirmed Upwork ? Fiverr ? PayPal ? Stripe ? Deel ? Payoneer ?
Send and withdraw
Yes- Fees
- SEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25
Crypto
Yes BTC ETH ADA
- Crypto deposits
- Yes
Interest on balances
YesUSD Savings 4.1% variable; BTC Savings 0.25% (up to 2 BTC); paid daily in BTC
Bank account detailsUSD · ACH, EUR · IBAN, GBP · sort code, SWIFT wires ✓
USD · ACH EUR · IBAN GBP · sort code SWIFT wires
CardVisa and Mastercard ✓
Visa MasterCard Virtual ✓ Physical ✓ Apple Pay ? Google Pay ?
Card fee$0 (metal card issuance)
ATMFree up to $100/month, then 2%
Get paid by platformsNone confirmed on its own pages ?
Upwork ? Fiverr ? PayPal ? Stripe ? Deel ? Payoneer ?
Send and withdrawSEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25 ✓
FeesSEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25
CryptoBTC, ETH, ADA ✓
BTC ETH ADA
Crypto depositsYes
Interest on balancesUSD Savings 4.1% variable; BTC Savings 0.25% (up to 2 BTC); paid daily in BTC ✓
USD Savings 4.1% variable; BTC Savings 0.25% (up to 2 BTC); paid daily in BTC
Not offered Multi-currency balances ✕ Stablecoins ✕
Fees
Fees checkedMonthly fee
$1,000/year membership
No monthly plan. Full refund if you close within 30 days of the first payment (14 days after a renewal) per T&Cs 18.2. Institutional Accounts pay a custom Annual Platform Fee instead.
Receiving money
SEPA €0.10; FPS £0.15; ACH $0.50 + 0.1%; SWIFT 0.3%
Fedwire deposits $20 + 0.1%. SWIFT 0.3% is for USD; other currencies by SWIFT 0.8%. USDT/USDC deposits may carry a variable conversion spread. BTC deposits below 0.0007 BTC may be credited as 0. Lightning is free, with the routing fee capped at 15 sats.
Sending and withdrawing
SEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25
SWIFT is 0.2% plus the USD equivalent of GBP 25. SEPA Instant €0.20. Stablecoin withdrawals pay a blockchain fee plus a possible spread. Intermediary bank fees may apply.
Currency conversion
0% on card spending
Fees page: debit card payment in a foreign currency is 0 USD (operator fees may apply), and Xapo says you get the Visa/Mastercard rate. Receiving non-USD via SWIFT costs 0.8%. EUR/GBP received by SEPA/FPS is converted to USD at a rate Xapo does not publish. The BTC/USD spread is 0.29%.
Card
$0 (metal card issuance)
First replacement each calendar year free, then $25. Emergency replacement $100 plus shipping; emergency cash $120.
ATM withdrawals
Free up to $100/month, then 2%
ATM operator fees may apply. Daily ATM limit $2,000 (payments FAQ).
Can I open it from my country?
| Where you live | Personal | Business owner |
|---|---|---|
| Afghanistan | Not accepted | Not published |
| Åland Islands | Accepted | Not published |
| Albania | Accepted | Not published |
| Algeria | Accepted | Not published |
| American Samoa | Accepted | Not published |
| Andorra | Accepted | Not published |
| Angola | Accepted | Not published |
| Anguilla | Accepted | Not published |
| Antarctica | Accepted | Not published |
| Antigua and Barbuda | Accepted | Not published |
| Argentina | Accepted | Not published |
| Armenia | Accepted | Not published |
| Aruba | Accepted | Not published |
| Australia | Accepted | Not published |
| Austria | Accepted | Not published |
| Azerbaijan | Accepted | Not published |
| Bahamas | Accepted | Not published |
| Bahrain | Accepted | Not published |
| Bangladesh | Accepted | Not published |
| Barbados | Accepted | Not published |
| Belarus | Not accepted | Not published |
| Belgium | Accepted | Not published |
| Belize | Accepted | Not published |
| Benin | Accepted | Not published |
| Bermuda | Accepted | Not published |
| Bhutan | Accepted | Not published |
| Bolivia | Accepted | Not published |
| Bosnia and Herzegovina | Not accepted | Not published |
| Botswana | Accepted | Not published |
| Bouvet Island | Accepted | Not published |
| Brazil | Accepted | Not published |
| British Indian Ocean Territory | Accepted | Not published |
| British Virgin Islands | Accepted | Not published |
| Brunei | Accepted | Not published |
| Bulgaria | Accepted | Not published |
| Burkina Faso | Accepted | Not published |
| Burundi | Accepted | Not published |
| Cambodia | Accepted | Not published |
| Cameroon | Accepted | Not published |
| Canada | Accepted | Not published |
| Cape Verde | Accepted | Not published |
| Caribbean Netherlands | Accepted | Not published |
| Cayman Islands | Accepted | Not published |
| Central African Republic | Not accepted | Not published |
| Chad | Accepted | Not published |
| Chile | Accepted | Not published |
| China | Accepted | Not published |
| Christmas Island | Accepted | Not published |
| Cocos (Keeling) Islands | Accepted | Not published |
| Colombia | Accepted | Not published |
| Comoros | Accepted | Not published |
| Cook Islands | Accepted | Not published |
| Costa Rica | Accepted | Not published |
| Côte d'Ivoire | Not accepted | Not published |
| Croatia | Accepted | Not published |
| Cuba | Not accepted | Not published |
| Curaçao | Accepted | Not published |
| Cyprus | Accepted | Not published |
| Czechia | Accepted | Not published |
| Denmark | Accepted | Not published |
| Djibouti | Accepted | Not published |
| Dominica | Accepted | Not published |
| Dominican Republic | Accepted | Not published |
| DR Congo | Not accepted | Not published |
| Ecuador | Accepted | Not published |
| Egypt | Accepted | Not published |
| El Salvador | Accepted | Not published |
| Equatorial Guinea | Accepted | Not published |
| Eritrea | Accepted | Not published |
| Estonia | Accepted | Not published |
| Eswatini | Accepted | Not published |
| Ethiopia | Accepted | Not published |
| Falkland Islands | Accepted | Not published |
| Faroe Islands | Accepted | Not published |
| Fiji | Accepted | Not published |
| Finland | Accepted | Not published |
| France | Accepted | Not published |
| French Guiana | Accepted | Not published |
| French Polynesia | Accepted | Not published |
| French Southern Territories | Accepted | Not published |
| Gabon | Accepted | Not published |
| Gambia | Accepted | Not published |
| Georgia | Accepted | Not published |
| Germany | Accepted | Not published |
| Ghana | Accepted | Not published |
| Gibraltar | Accepted | Not published |
| Greece | Accepted | Not published |
| Greenland | Accepted | Not published |
| Grenada | Accepted | Not published |
| Guadeloupe | Accepted | Not published |
| Guam | Accepted | Not published |
| Guatemala | Accepted | Not published |
| Guernsey | Accepted | Not published |
| Guinea | Accepted | Not published |
| Guinea-Bissau | Accepted | Not published |
| Guyana | Accepted | Not published |
| Haiti | Not accepted | Not published |
| Heard and McDonald Islands | Accepted | Not published |
| Honduras | Accepted | Not published |
| Hong Kong | Accepted | Not published |
| Hungary | Accepted | Not published |
| Iceland | Accepted | Not published |
| India | Accepted | Not published |
| Indonesia | Accepted | Not published |
| Iran | Not accepted | Not published |
| Iraq | Not accepted | Not published |
| Ireland | Accepted | Not published |
| Isle of Man | Accepted | Not published |
| Israel | Accepted | Not published |
| Italy | Accepted | Not published |
| Jamaica | Accepted | Not published |
| Japan | Accepted | Not published |
| Jersey | Accepted | Not published |
| Jordan | Accepted | Not published |
| Kazakhstan | Accepted | Not published |
| Kenya | Accepted | Not published |
| Kiribati | Accepted | Not published |
| Kosovo | Accepted | Not published |
| Kuwait | Accepted | Not published |
| Kyrgyzstan | Accepted | Not published |
| Laos | Accepted | Not published |
| Latvia | Accepted | Not published |
| Lebanon | Not accepted | Not published |
| Lesotho | Accepted | Not published |
| Liberia | Accepted | Not published |
| Libya | Not accepted | Not published |
| Liechtenstein | Accepted | Not published |
| Lithuania | Accepted | Not published |
| Luxembourg | Accepted | Not published |
| Macao | Accepted | Not published |
| Madagascar | Accepted | Not published |
| Malawi | Accepted | Not published |
| Malaysia | Accepted | Not published |
| Maldives | Accepted | Not published |
| Mali | Not accepted | Not published |
| Malta | Accepted | Not published |
| Marshall Islands | Accepted | Not published |
| Martinique | Accepted | Not published |
| Mauritania | Accepted | Not published |
| Mauritius | Accepted | Not published |
| Mayotte | Accepted | Not published |
| Mexico | Accepted | Not published |
| Micronesia | Accepted | Not published |
| Moldova | Accepted | Not published |
| Monaco | Accepted | Not published |
| Mongolia | Accepted | Not published |
| Montenegro | Accepted | Not published |
| Montserrat | Accepted | Not published |
| Morocco | Accepted | Not published |
| Mozambique | Accepted | Not published |
| Myanmar | Not accepted | Not published |
| Namibia | Accepted | Not published |
| Nauru | Accepted | Not published |
| Nepal | Accepted | Not published |
| Netherlands | Accepted | Not published |
| New Caledonia | Accepted | Not published |
| New Zealand | Accepted | Not published |
| Nicaragua | Not accepted | Not published |
| Niger | Accepted | Not published |
| Nigeria | Accepted | Not published |
| Niue | Accepted | Not published |
| Norfolk Island | Accepted | Not published |
| North Korea | Not accepted | Not published |
| North Macedonia | Accepted | Not published |
| Northern Mariana Islands | Accepted | Not published |
| Norway | Accepted | Not published |
| Oman | Accepted | Not published |
| Pakistan | Accepted | Not published |
| Palau | Accepted | Not published |
| Palestine | Not accepted | Not published |
| Panama | Accepted | Not published |
| Papua New Guinea | Accepted | Not published |
| Paraguay | Accepted | Not published |
| Peru | Accepted | Not published |
| Philippines | Accepted | Not published |
| Pitcairn Islands | Accepted | Not published |
| Poland | Accepted | Not published |
| Portugal | Accepted | Not published |
| Puerto Rico | Accepted | Not published |
| Qatar | Accepted | Not published |
| Republic of the Congo | Accepted | Not published |
| Réunion | Accepted | Not published |
| Romania | Accepted | Not published |
| Russia | Not accepted | Not published |
| Rwanda | Accepted | Not published |
| Samoa | Accepted | Not published |
| San Marino | Accepted | Not published |
| São Tomé and Príncipe | Accepted | Not published |
| Saudi Arabia | Accepted | Not published |
| Senegal | Accepted | Not published |
| Serbia | Not accepted | Not published |
| Seychelles | Accepted | Not published |
| Sierra Leone | Accepted | Not published |
| Singapore | Accepted | Not published |
| Sint Maarten | Accepted | Not published |
| Slovakia | Accepted | Not published |
| Slovenia | Accepted | Not published |
| Solomon Islands | Accepted | Not published |
| Somalia | Not accepted | Not published |
| South Africa | Accepted | Not published |
| South Georgia and South Sandwich Islands | Accepted | Not published |
| South Korea | Accepted | Not published |
| South Sudan | Not accepted | Not published |
| Spain | Accepted | Not published |
| Sri Lanka | Accepted | Not published |
| St Barthélemy | Accepted | Not published |
| St Helena | Accepted | Not published |
| St Kitts and Nevis | Accepted | Not published |
| St Lucia | Accepted | Not published |
| St Martin | Accepted | Not published |
| St Pierre and Miquelon | Accepted | Not published |
| St Vincent and the Grenadines | Accepted | Not published |
| Sudan | Not accepted | Not published |
| Suriname | Accepted | Not published |
| Svalbard and Jan Mayen | Accepted | Not published |
| Sweden | Accepted | Not published |
| Switzerland | Accepted | Not published |
| Syria | Not accepted | Not published |
| Taiwan | Accepted | Not published |
| Tajikistan | Accepted | Not published |
| Tanzania | Accepted | Not published |
| Thailand | Accepted | Not published |
| Timor-Leste | Accepted | Not published |
| Togo | Accepted | Not published |
| Tokelau | Accepted | Not published |
| Tonga | Accepted | Not published |
| Trinidad and Tobago | Accepted | Not published |
| Tunisia | Accepted | Not published |
| Türkiye | Accepted | Not published |
| Turkmenistan | Accepted | Not published |
| Turks and Caicos Islands | Accepted | Not published |
| Tuvalu | Accepted | Not published |
| U.S. Outlying Islands | Accepted | Not published |
| U.S. Virgin Islands | Accepted | Not published |
| Uganda | Accepted | Not published |
| Ukraine | Not accepted | Not published |
| United Arab Emirates | Accepted | Not published |
| United KingdomAccount available, but BTC-backed loans are not offered to UK residents, the BTC Credit Fund is open to UK professional investors only, and ETH/ADA trading may be unavailable. | Limited | Not published |
| United States | Not accepted | Not published |
| Uruguay | Accepted | Not published |
| Uzbekistan | Accepted | Not published |
| Vanuatu | Accepted | Not published |
| Vatican City | Accepted | Not published |
| Venezuela | Not accepted | Not published |
| Vietnam | Accepted | Not published |
| Wallis and Futuna | Accepted | Not published |
| Western Sahara | Accepted | Not published |
| Yemen | Not accepted | Not published |
| Zambia | Accepted | Not published |
| Zimbabwe | Not accepted | Not published |
No country matches that search.
Accepted named on Xapo Bank’s pages Not excluded only sanctioned countries are ruled out Limited opens with restrictions Not accepted can’t open from here Not published Xapo Bank doesn’t say
250 countries and territories. Xapo Bank doesn’t publish where owners may live.
Is my money safe?
Licensed bank with deposit protectionGibraltar Deposit Guarantee Scheme (GDGS): eligible fiat deposits covered up to GBP 120,000 per depositor; Bitcoin and other crypto are not covered.
- Licensed bankFiat banking by Xapo Bank Limited (credit institution); crypto services by sister entity Xapo VASP Limited (GFSC DLT provider).
- Licences and registrations (3)
- Credit institution · Gibraltar Financial Services Commission (GFSC) · Gibraltar · Permission No. 23171
- DLT provider (Xapo VASP Limited) · Gibraltar Financial Services Commission (GFSC) · Gibraltar · Permission No. 26061
- Moneylender / registered creditor (Xapo Credit Limited) · Gibraltar Financial Services Commission (GFSC) · Gibraltar
- Legal entities
- Xapo Bank Limited · Gibraltar
- Xapo VASP Limited · Gibraltar
- Xapo Credit Limited · Gibraltar
- No partner bank named
- Deposit protectionGibraltar Deposit Guarantee Scheme (GDGS): eligible fiat deposits covered up to GBP 120,000 per depositor; Bitcoin and other crypto are not covered.
- Who holds the moneyCustodial. Fiat is held by Xapo Bank Limited as bank deposits (Xapo says backed 100% by short-term US Treasuries and similar). Bitcoin is held by Xapo VASP Limited in MPC custody, segregated, 1:1 reserved and not rehypothecated, with an optional Vault that has a 48-hour withdrawal timelock. Members get no seed phrase.
Xapo Bank vs the alternatives
| Feature | Xapo Bank — | KAST — | Wirex — | RedotPay — |
|---|---|---|---|---|
| Who it’s for | People and companies | People and companies | People and companies | For people |
| USD account (ACH) | Yes | Yes | Yes | No |
| EUR IBAN | Yes | Yes | Yes | Yes |
| GBP account | Yes | No | Yes | Yes |
| Card | Visa and Mastercard | Visa | Visa | Visa |
| Monthly fee | $1,000/year membership | $0 (Standard) | $0 | $0 |
| Send and withdraw | SEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25 | USD ACH $1 or wire $15 (+0.08%), SWIFT $35; local currency typically $2 + 1% FX | Not published | Crypto withdrawals: network fee; local-currency payouts: fee per currency/method shown in app; internal transfers free |
| Currency conversion | 0% on card spending | 0.5%–1.75% | 0% on card spending | 1.2% (transactions not in the card currency) + 1% crypto conversion fee |
| Stablecoins | No | USDC, USDT, PYUSD, RLUSD | USDC, USDT, EURC | USDT, USDC, RLUSD |
| Interest on balances | USD Savings 4.1% variable; BTC Savings 0.25% (up to 2 BTC); paid daily in BTC | Reserve Rewards (promotional cashback, not interest) on USD in the Reserve Account: 8% Standard, up to 10% Premium (first $50k), up to 12% Private (first $200k); variable T-bill-linked APY in the USDKY vault | Up to 9.75% APY on stablecoins (DeFi-based, variable) | Variable APY on USDC/USDT through Earn (offered by RedotPay Panama), selected regions only |
| Deposit protection | Deposit scheme | Not insured | Not insured | Not insured |
Xapo Bank — KAST — Wirex — RedotPay —
Who can open it
Who it’s for
Xapo Bank People and companies
KAST People and companies
Wirex People and companies
RedotPay For people
Account
USD account (ACH)
Xapo Bank Yes
KAST Yes
Wirex Yes
RedotPay No
EUR IBAN
Xapo Bank Yes
KAST Yes
Wirex Yes
RedotPay Yes
GBP account
Xapo Bank Yes
KAST No
Wirex Yes
RedotPay Yes
Card
Xapo Bank Visa and Mastercard
KAST Visa
Wirex Visa
RedotPay Visa
Fees
Monthly fee
Xapo Bank $1,000/year membership
KAST $0 (Standard)
Wirex $0
RedotPay $0
Send and withdraw
Xapo Bank SEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25
KAST USD ACH $1 or wire $15 (+0.08%), SWIFT $35; local currency typically $2 + 1% FX
Wirex Not published
RedotPay Crypto withdrawals: network fee; local-currency payouts: fee per currency/method shown in app; internal transfers free
Currency conversion
Xapo Bank 0% on card spending
KAST 0.5%–1.75%
Wirex 0% on card spending
RedotPay 1.2% (transactions not in the card currency) + 1% crypto conversion fee
Your money
Stablecoins
Xapo Bank No
KAST USDC, USDT, PYUSD, RLUSD
Wirex USDC, USDT, EURC
RedotPay USDT, USDC, RLUSD
Interest on balances
Xapo Bank USD Savings 4.1% variable; BTC Savings 0.25% (up to 2 BTC); paid daily in BTC
KAST Reserve Rewards (promotional cashback, not interest) on USD in the Reserve Account: 8% Standard, up to 10% Premium (first $50k), up to 12% Private (first $200k); variable T-bill-linked APY in the USDKY vault
Wirex Up to 9.75% APY on stablecoins (DeFi-based, variable)
RedotPay Variable APY on USDC/USDT through Earn (offered by RedotPay Panama), selected regions only
Deposit protection
Xapo Bank Deposit scheme
KAST Not insured
Wirex Not insured
RedotPay Not insured
Every cell comes from that company’s own pages.
Questions people ask
Is Xapo Bank a bank?
Yes. Xapo Bank is a licensed bank, with 3 licences or registrations in Gibraltar.
Is money in Xapo Bank protected?
Gibraltar Deposit Guarantee Scheme (GDGS): eligible fiat deposits covered up to GBP 120,000 per depositor; Bitcoin and other crypto are not covered.
Who can open Xapo Bank?
Adults living anywhere except the US and 27 other listed countries (citizens of those countries are also barred) can join for $1,000 a year; non-US companies, trusts and foundations can apply for an Institutional Account, which only moves money to and from accounts in the entity's own name.
Do I need an SSN or ITIN?
An SSN isn't part of Xapo Bank's sign-up. It doesn’t accept an ITIN. A passport alone works as ID.
How long does approval take?
Business: Typically within three weeks.
Can Upwork, Fiverr, PayPal and Stripe pay into Xapo Bank?
Not confirmed on its own pages: Upwork, Fiverr, PayPal, Stripe, Deel and Payoneer.
How much does it cost to send or withdraw money?
SEPA €0.15; FPS £0.15; ACH $30 + 0.15%; SWIFT 0.2% + £25.
Does Xapo Bank have a card?
Yes, a Visa and Mastercard card, virtual and physical. Card fees: $0 (metal card issuance).
Can I hold crypto in Xapo Bank?
No stablecoins. Other crypto: BTC, ETH and ADA.
Does Xapo Bank pay interest on balances?
USD Savings 4.1% variable; BTC Savings 0.25% (up to 2 BTC); paid daily in BTC.
Facts last verified against 12 pages on Xapo Bank’s own sites. Report a mistake