Xapo Bank review
Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Xapo Bank is a debit card for people who hold crypto or multi-currency balances and want a cheap way to spend them abroad. Its currency conversion fee of 0% ranks 1 of 259 brands on that measure, and cashback of 3% rewards the card spend, though balances sit with the provider.
Key facts
- Best for
- Spending crypto and multi-currency balances abroad without a conversion charge.
- Currency conversion fee
- 0% (Source, checked September 26, 2026)
- Card type
- Debit (Source, checked September 26, 2026)
- Cashback rate
- 3% (Source, checked September 26, 2026)
- Custody
- Custodial (Source, checked September 26, 2026)
- Headquarters
- Gibraltar (Source, checked September 26, 2026)
- Founded
- 2013 (Source, checked September 26, 2026)
- Features
- Multi-currency, Crypto, Virtual card, Travel
- Official website
- xapobank.com
Pros and cons
Pros
- Currency conversion of 0% is lower than 0.1% at Wise and 0.5% to 3% at bunq Spain.
- Card spending earns cashback of 3% on top of the conversion fee.
- multi currency, crypto and virtual card covers multi-currency, crypto, a virtual card and travel from a single account.
Cons
- Custody is custodial, so the provider holds the balance rather than the account holder.
- It is a debit card, so there is no credit line to lean on when the balance runs short.
- The licence sits in GI under the Gibraltar Financial Services Commission, outside the UK and the eurozone.
Who it suits
- People with crypto or multi-currency balances who want a debit card to spend them.
- Travellers who would rather see 0% on conversion than pay for holiday currency in advance.
Who should look elsewhere
- Self-custody first: Wise is the alternative to weigh, because Xapo Bank keeps balances custodial.
- bunq Spain for anyone who wants a eurozone banking name rather than a Gibraltar licence.
- Upgrade OneCard, for people who rarely spend abroad and can accept a conversion charge of 3%.
Deposit protection
Custody is custodial, so Xapo Bank holds the balance rather than the account holder keeping the keys. That is the main thing to weigh on protection, because access depends on the provider rather than on self-custody. The bank is licensed in Gibraltar and supervised by the Gibraltar Financial Services Commission.
The company behind it
Xapo Bank is headquartered in Gibraltar and has operated since 2013, so this is a young banking licence rather than a long established high street name. The Gibraltar base puts the licence outside the UK and the eurozone, with the Gibraltar Financial Services Commission as regulator. The short record is the main trade-off on the company side.
How Xapo Bank compares
9.3 vs 9.4
9.3 vs 9.0
9.3 vs 8.9
9.3 vs 9.2
9.3 vs 8.8
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 9.0
9.3 vs 8.8bunq Spain runs 0.5% to 3% on conversion against 0% here, so it only wins on a preference for a eurozone bank name.
9.3 vs 8.8
9.3 vs 8.7
9.3 vs 9.2
9.3 vs 9.0
9.3 vs 8.9
9.3 vs 8.8
9.3 vs 9.6
9.3 vs 9.2
9.3 vs 9.1
9.3 vs 9.1
9.3 vs 9.1
9.3 vs 8.9
9.3 vs 8.8
9.3 vs 8.8- 9.3 vs 8.8
- 9.3 vs 8.8
9.3 vs 8.8
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.3
9.3 vs 8.2
9.3 vs 8.0
9.3 vs 8.0
Where Xapo Bank is available
- Available
- Gibraltar
- Licence in Gibraltar
- Gibraltar Financial Services Commission, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does Xapo Bank charge to convert currency?+
Currency conversion costs 0%, which ranks 1 of 259 brands on this measure. Wise charges 0.1%, bunq Spain runs 0.5% to 3% and Upgrade OneCard charges 3%, so the gap matters most for people who spend abroad often or hold several currencies at once.
Is Xapo Bank regulated?+
Xapo Bank is licensed in Gibraltar and supervised by the Gibraltar Financial Services Commission, which is the only regulator named on its licence. The licence is Gibraltar only, with no UK or eurozone banking licence behind the account, so the protection readers in those markets know does not apply here.
Does the card pay cashback?+
Yes. Spending on the debit card earns cashback of 3%, which stacks with the 0% conversion fee. For someone who mostly buys in a single currency, that reward matters more than a points or miles scheme would.
What kind of card does it offer?+
It is a debit card, so purchases draw on the balance in the account rather than on a credit line. The feature list multi currency, crypto and virtual card adds multi-currency balances, crypto, a virtual card and travel, which covers everyday spending and trips abroad from the same card.
Do I hold the crypto myself?+
No. Custody is custodial, so Xapo Bank holds the balance and access depends on the provider rather than on keys the account holder controls. If self-custody is the priority, this is not the account, and the crypto feature sits inside that custodial structure.
Can I use it while travelling?+
Yes. The feature list multi currency, crypto and virtual card includes travel and multi-currency, and the currency conversion fee is 0%. Spending abroad therefore avoids the charge Wise adds at 0.1% and the band bunq Spain runs at 0.5% to 3%, which matters over several trips.
How old is Xapo Bank and where is it based?+
Xapo Bank has operated since 2013 and is headquartered in Gibraltar, supervised by the Gibraltar Financial Services Commission. That makes it a young banking licence rather than a long established high street name, so the short track record is the thing to weigh if a long record matters.
Sources
- xapobank.com/en checked September 26, 2026
Backs: Headquarters
“Our home is One Grand Casemates Square, Gibraltar”
- xapobank.com/en/banking/transact checked September 26, 2026
Backs: Card type, Cashback rate, Features, Currency conversion fee
“metal, standard, and virtual debit cards - Xapo Bank membership debit card”
- xapobank.com/en/company/about-us checked September 26, 2026
Backs: Founded
“2013 - An Early Foundation of Trust for Bitcoin, Xapo was founded”
- xapobank.com/en/company/compliance checked September 26, 2026
Backs: Licences
- xapobank.com/en/membership checked September 26, 2026
Backs: Custody
“Bitcoin is held 1:1, legally segregated under Gibraltar's DLT framework - Xapo Bank membership”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Monthly fee, Free ATM withdrawals, Protection.
Related by the facts
Xapo Bank
Spending crypto and multi-currency balances abroad without a conversion charge.