Service Fees and Glossary of Terms
Contents
Xapo Bank Fees
name of the account provider:
Xapo Bank Limited
account name:
Xapo account
date:
16th September 2024
This document informs you about the fees for using the main services linked to the payment account. It will help you to compare these fees with those of other accounts.
Fees may also apply for using services linked to the account which are not listed here. Full information is available in the Fees Section of the Xapo Bank Limited Terms & Conditions.
A glossary of the terms used in this document is available free of charge.
View PDF01 General Account Services
| Maintaining the account Includes a package of services consisting of: USD bank account, international premium debit card and an ultra-secure Vault that supports USD. Services beyond these may be charged separately. | |
| 1000 USD a year | |
02 Payments (Excluding Cards)
| Sending money through SWIFT | |
| 0 USD | |
| Receiving money through SWIFT | |
| 0 USD | |
| Receiving money from outside Gibraltar | |
| 0 USD | |
| Receiving money through the Faster Payment System | |
| 0.15 GBP | |
| Sending money through the Faster Payment System | |
| 0.15 GBP | |
| Receiving money through the SEPA system | |
| 0.10 EUR | |
| Sending money through the SEPA system | |
| 0.15 EUR | |
| Sending money through the SEPA Instant system | |
| 0.20 EUR | |
| FedACH Deposits | |
| 0.50 USD + 0.1% Transaction Value | |
| FedWire Deposits | |
| 20 USD + 0.1% Transaction Value | |
| FedACH Withdrawals | |
| 30 USD + 0.15% Transaction Value | |
| Sending funds in USDT | |
| A blockchain fee will apply. This fee can vary depending on the network usage of other participants and covers transaction costs. Xapo Bank may also charge available spread depending on the market exchange rate considering the withdrawal size. | |
| Receiving funds in USDT | |
| Xapo Bank may charge a variable spread depending on the market exchange rate considering the deposit size when converting the deposit. | |
| Sending funds in USDC | |
| A blockchain fee will apply. This fee can vary depending on the network usage of other participants and covers transaction costs. Xapo Bank may also charge available spread depending on the market exchange rate considering the withdrawal size. | |
| Receiving funds in USDC | |
| Xapo Bank may charge a variable spread depending on the market exchange rate considering the deposit size when converting the deposit. | |
| Intermediary banks fees may apply, especially for international cross-border transactions. | |
03 Cards and Cash
| Metal Card Issuance Fee | |
| 89 USD | |
| Cash withdrawal (ATM) in and outside Gibraltar up to 100 USD per month | |
| 0 USD, ATM operator fees may apply | |
| Cash withdrawal (ATM) in and outside Gibraltar above 100 USD per month | |
| 2% of the withdrawal amount, ATM operator feesmay apply | |
| Receiving money from outside Gibraltar | |
| 0 USD | |
Replacement of Card:
| First replacement card in a year (January-December) | |
| 0 USD | |
| Additional replacement card in a year (January-December) | |
| 25 USD | |
| Emergency replacement card production | |
| 100 USD | |
| Emergency replacement card shipping | |
| depending on shipping address | |
| Emergency cash access | |
| 120 USD | |
| Closed card: fee charged when the card was cancelled by the user and a new one was requested | |
| 25 USD | |
| Debit Card payment | |
| 0 USD, operator fees may apply | |
| Debit Card payment in a foreign currency | |
| 0 USD, operator fees may apply | |
04 Overdrafts and Related Services
| Arranged overdraft | |
| not applicable | |
| Unarranged overdraft | |
| not applicable | |
05 Other Services
| Dispute fee (charged in case of a non-substantiated dispute) | |
| 45 USD | |
Airport Lounge Access:
| First yearly visit | |
| 0 USD | |
| Subsequent visits in the same year | |
| 35 USD | |
| Guest visit fee | |
| 35 USD | |
| Cancellation fee (charged when a Xapo account is closed within 14 days of creation, but the free airport lounge service has already been used) | |
| 32 USD | |
| Cancelling a cheque | |
| not applicable | |
| Refusing a payment due to lack of funds | |
| 0 USD | |
| Allowing a payment despite lack of funds | |
| 0 USD | |
06 Wealth
These fees only apply to the Xapo Bank Wealth Product, governed by the Terms and Conditions here.
Buying Stocks:
| Buying Stocks | |
| 1% of Trade Value | |
Example:
You buy 1000 USD of Apple at 145 USD a share (6.897 shares in AAPL)
- 1% of trade value = 10 USD
Selling Stocks:
| Trading Activity Fee (TAF) | |
| 0.000145 USD per share (max. 7.27 USD, min. 0.01 USD per trade) | |
| Securities and Exchange Commission (SEC) Fee | |
| 0.000008 USD * USD transaction value (min. 0.01 USD per trade) | |
| Selling Stock (Total) | |
| 1% of Trade Value + TAF + SEC Fee | |
Example:
You sell 1000 USD of Apple at 145 USD a share (6.897 shares in AAPL)
- TAF = 0.000145 USD per share, or 0.000145*6.897 = 0.001, rounded up to minimum of 0.01 USD
- SEC Fee = 0.000008 USD multiplied by the transaction value, or 0.000008*1000 = 0.008, rounded up to the minim of 0.01 USD
- 1% of trade value = 10 USD
- 0.01 + 0.01 + 10 = 10.02 USD
Glossary of Terms
| Services | Definition |
|---|---|
| Maintaining the account | |
| The account provider operates the account for use by the customer | |
| Unarranged Overdraft | |
| The customer borrows money when there is no money le in the account (or when the customer has gone past their arranged overdraft limit) and this has not been agreed with the account provider in advance. | |
| Arranged Overdraft | |
| The account provider and the customer agree in advance that the customer may borrow money when there is no money left in the account. The agreement determines a maximum amount that can be borrowed, and whether fees and interest will be charged to the customer. | |
| Standing Order | |
| The account provider makes regular transfers, on the instruction of the customer, of a fixed amount of money from the customer’s account to another account. | |
| Direct Debit | |
| The customer permits someone else (recipient) to instruct the account provider to transfer money from the customer’s account to the recipient. The account provider then transfers money to the recipient on a date or dates agreed by the customer and the recipient. The amount may vary. | |
| Refusing a payment due to lack of funds | |
| The account provider refuses a payment from the customer’s account because there is not enough money in it (or it would take the customer past their arranged overdraft limit). | |
| Allowing a payment despite lack of funds | |
| The account provider allows a payment to be made from the customer’s account although there is not enough money in it (or it would take the customer past their arranged overdraft limit). | |
| Sending money within Gibraltar | |
| The account provider transfers money, on the instruction of the customer, from the customer’s account to another account in Gibraltar. | |
| Sending money outside Gibraltar | |
| The account provider transfers money, on the instruction of the customer, from the customer’s account to another account outside Gibraltar. | |
| Receiving money from outside Gibraltar | |
| Money is sent to the customer’s account from an account outside Gibraltar. | |
| Cash withdrawal (ATM) in Gibraltar | |
| The customer takes cash out of the customer’s account at a cash machine in Gibraltar. | |
| Cash withdrawal (ATM) in foreign currency outside Gibraltar | |
| The customer withdraws cash out of the customer’s account at a cash machine outside Gibraltar. | |
| Cash withdrawal in a foreign currency inside Gibraltar | |
| The customer withdraws cash out of the customer’s account in a foreign currency at a cash machine or, where available, at a bank inside Gibraltar. | |
| Debit card payment | |
| The customer uses a debit card to make a payment in USD. This can be in a shop, online or over the phone. | |
| Debit card payment in a foreign currency | |
| The customer uses a debit card to make a payment in a foreign currency. This can be in a shop, online or over the phone. | |
| Cancelling a cheque | |
| The customer asks the account provider to cancel a cheque that the customer has written. | |
| Chargeback processing services | |
| The customer asks the account provider to reverse a transaction. | |
Xapo VASP Fees
01 Transaction Fees
Internal bitcoin transactions between Xapo accounts are not subject to processing fees.
The cost to send transactions via the bitcoin network constantly fluctuates. Since the cost to process both incoming and outgoing transactions is continuously changing, we recommend always checking this information.
Outgoing transactions from your Xapo account to an external address will be charged a standard fee which will be displayed on the confirmation screen. You can choose to pay a higher priority fee in order to have your transaction processed more quickly! These fees are dynamically calculated at the time of the transaction, so what is shown here are only the current fees and they are always changing.
02 Wallet
- if you deposit less than BTC 0.0007,* Xapo Bank may credit you with BTC 0.
- This fee is applicable only for deposits below BTC 0.0007.* We don't charge deposit fees for larger deposits.
* During extreme market conditions when the average blockchain fees increase, the minimum BTC deposit amount of 0.0007 can increase. The minimum deposit amount is always visualised on the BTC deposit screen in the Xapo Bank app
For example:
Deposits below BTC 0.0007 are charged a variable transit fee dependent on transaction size and current Bitcoin network fees. The variable fee depends on the market conditions.
03 Lightning Network
Xapo does not charge a fee for Lightning network payments.
Lightning network charges a small variable transaction fee for each transfer. We fixed the fee to 15 SAT to protect our members from unreasonably high transaction fees. If the fee is above 15 SAT, the transaction will fail. When the fee is below 15 SAT, Xapo will keep the difference
04 Crypto Wealth fees
These fees only apply to the Xapo VASP Crypto Wealth Product, governed by the Terms and Conditions here.
Buying:
| Buying | |
| 1% of Trade Value | |
Example:
You buy 100 USD of ETH when ETH is worth 1500 USD (0.067 ETH)
- 1% of trade value = 1 USD
Selling:
| Selling | |
| 1% of Trade Value | |
You sell 134 USD of ETH when ETH is worth 2000 USD (0.067 ETH)
- 1% of trade value = 1.34 USD