Xapo Bank
Xapo Bank
Data verified on unchanged since the sources
Worth it if you hold Bitcoin and dollars and need a real bank: a full Gibraltar licence, deposit protection up to £120,000 on fiat, 3.6% on USD and 0% FX markup.
Avoid it if you don't move serious amounts: membership is $1,000 a year (€83.33/month), and above $100/month ATM withdrawals cost 2%.
Xapo Bank is a fully licensed bank in Gibraltar offering 3.6% APR on USD deposits, BTC-backed loans and zero FX fees. It remains a niche service: the $1,000 annual fee and premium-only access make it suited to a narrow clientele, with the United States excluded.
Data & conditions
| Account fee | €83 |
|---|---|
| IBAN | dedicato · GI |
| Multi-currency | Yes · 3 currencies |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | Yes |
| SEPA transfer | Free |
| Interest on balance | 3.6% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA, UK, APAC, LATAM, MENA, AFRICA · 110+ countries |
| Stocks | Real — you own the security |
| Fractional shares | Yes |
| ETF | Yes |
| Stock and ETF commission | 0.5% on buy and sell (plus SEC/FINRA regulatory fees on sales only) |
| Italian withholding agent | No — you self-declare |
| Regulator | GFSC |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | Banking License (Gibraltar) Gibraltar FSC (bank + VASP); deposit guarantee GBP 120K fiat |
Plans & pricing
Strengths
- Real banking license (Gibraltar); 3.6% APR on USD; BTC-backed loans; 0% FX.
- No notable sovereignty advantage documented.
Weaknesses
- Annual fee $1.000; only premium; no USA.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Gibraltar FSC (bank + VASP); deposit guarantee GBP 120K fiat): reporting to authorities and freezes on order.
Verdict
The high rating comes from a full banking license in Gibraltar (GFSC) and deposit protection up to GBP 120K on fiat, rare in crypto, alongside 3.6% APR on USD and zero FX fees. Coverage across 110 countries and BTC-backed loans make it a robust choice for protection-seekers; the catch is cost, with a $1,000 annual fee and premium-only access that shut out the average user.
Through this lens the picture flips: as a regulated bank with full KYC and custody entirely held by the institution, user autonomy is minimal and privacy is the lowest in the group. The banking strength that convinces on Tutela becomes the main constraint here, since it interposes a regulated intermediary between the user and their own BTC.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Xapo Bank, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
No known incidentSearch across public sources: no known hack, withdrawal freeze or regulatory action as of the verification date.
verified on
Public reviews
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App Store ↗
4.6/5
224 reviews
Official app 'Xapo Bank: Save in BTC & USD' by Xapo Holdings Limited; figure from iTunes Lookup API (GB store, app unavailable in the US).
Weighted average across 1 public review platform (224 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Is Xapo Bank a real bank?
Xapo Bank operates under a Banking License (Gibraltar) licence (GI). It is regulated by the GFSC. Fiat funds are protected up to GBP 120,000 (USD equivalent) per depositor by the Gibraltar Deposit Guarantee Scheme.
Can I send transfers to third-party IBANs with Xapo Bank?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does Xapo Bank support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Xapo Bank support?
The number of supported fiat currencies is not documented. Multi-currency accounts: supported.
Can I withdraw crypto on-chain from Xapo Bank?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · OAM Italy registry · Past incidents · +21 Data verified on Aug 12, 2026
- legal.xapobank.com Data verified on Aug 12, 2026
- bitcointreasuries.net Third-party audit Data verified on Jun 14, 2026
- customersupport.xapo.com SWIFT fee Data verified on Jun 14, 2026
Show 4 more sources
- fsc.gi Legal name · Company type Data verified on Jun 14, 2026
- pitchbook.com Investors Data verified on Jun 14, 2026
- en.wikipedia.org Founders Data verified on Jun 13, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 13, 2026