Xapo Card Closure Update – and what’s next!

Xapo Card Closure Update

January 5, 2018

As of January 4th, 2018, Wave Crest Holdings, Ltd. issuer of the the Xapo Card Program, was instructed by Visa® to cancel all its Visa® Programs effective immediately. As a result, all the cards of the Xapo Cards Program were deactivated.

As a consequence of this unanticipated closure of the Xapo Card Program, we’ve put together a list of answers to your most common questions.

Q: What’s going to happen with my existing card?

A: Effective January 4th, 2018, your Xapo Card is inoperative. This means that card activations, making purchases, and withdrawing funds have stopped working completely.

Q: What if I have recurring payments with my Xapo Card?

A: If you’ve set up any recurring payments associated with your Xapo Card, those transactions will be rejected. You will be required to associate a new payment method for those services.

Q: What will happen with my pending transactions?

A: If you have any pending transactions, those will settle within a few weeks and will be reflected in your Xapo wallet.

If you are in the middle of disputing a transaction, or would like to dispute a transaction, our Support Team will continue corresponding with you in regards to your dispute.

Q: Will I receive a refund?

A: We’ve determined that any cardholder that ordered a card under the Xapo Card program on December 1st, 2017 or after will be able to claim a refund of the card order fee. We’ll contact you directly if you are eligible for a refund.

All Xapo customers affected by this closure will be eligible to receive a card for free in the future in the event that we are able to offer Xapo Cards again.

Q: What are my other options to withdraw my funds from my Xapo account?

A:  If enabled in your country, you can use the withdraw feature. Learn more about this feature here.

Keep in mind that you’ll be able to continue taking advantage of Xapo’s other services, such as adding funds to your account, storing them securely in the Vault, and sending funds to Xapo accounts instantly and for free.

Q: What’s the future of the Xapo Card program?

A: We’re already exploring various alternative card solutions. While we are not ready to announce anything yet, looking for potential new card issuers has been (and continues to be) at the forefront of our mission.

Ultimately, our main priority is to deliver you a great product and we are working hard to make it happen. While we cannot yet give any time estimation of when this will occur, we encourage you to stay tuned for upcoming announcements regarding the Xapo Card program.

Anni Rautio

By Head of Xapo Debit Card

Article published on January 5, 2018

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