You may have heard about how XAPO is charging excessive previously undisclosed fees on their Xapo Debit Card, but what you may not know is that they will reimburse you for the third-party monthly fees, in Bitcoin! Though, aside from the $15 shipping fees, XAPO included a few other hidden fees they consider to be “customary fees just as with any other debit card.”
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XAPO Debit Card Fees
XAPO has been under a lot of PR stress lately as they released the fee schedule from their debit card supplier. On August 4th, XAPO posted an update on their news feed which stated that not only are the third-party card supplier’s monthly fees reimbursed, but that they will not ship to you if you’re in the USA or India. Due to financial regulations in those countries, if you’re in the USA or India, your XAPO debit card pre-order will have to wait for XAPO to find a legal way to distribute cards to your country before you’ll receive your card.
XAPO seems to be sealing its own fate with the newly introduced ATM fees and their program not being compatible with certain countries, but at least there won’t be any monthly fees. No one wants to pay monthly fees and not everyone plans on using an ATM with similar fees as that of a cryptocurrency exchange. People can still get their balance online, and many people have a smartphone to go online while mobile.
In the USA, I’ve never heard of a bank charging for a debit card replacement, but other companies might have that fee if someone steals your card. It seems more like a fee for the “pleasure” of being robbed. Now, if you lose your card, then the fee makes more ethical sense. The fee is just labeled “Card Replacement,” so it sounds like they charge it either way.
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