We’re excited to unveil an update to one of our most requested features. Our latest cashback offering gives you 2% on all qualifying card spend within your monthly allowance, paid in BTC.
How much cashback you earn now depends on two things: what you spend on your card, and the balance you keep in your USD account. The higher your balance, the more of your spending earns 2% back in Bitcoin.
The rate is a flat 2%, paid in BTC. The portion of your spending that qualifies for cashback each month is based on your average USD account balance from the previous month. This threshold resets on the 1st of each month, and spending beyond your limit does not earn cashback. Below, we explain the mechanics in detail.
How it works
Each month, you receive a cashback allowance equal to 20% of your average USD account balance from the previous month. Card purchases up to this value earn 2% back in Bitcoin, paid out on the 1st of the following month.
Your allowance is set on the 1st: On the first of the month, you’ll see your monthly allowance calculated based on your average USD account balance from the previous month.
You spend as usual: Eligible purchases on any of your Xapo cards, physical or virtual, count towards one shared allowance. Spending within this allowance earns 2% back in Bitcoin.
Your cashback is paid on the 1st of the following month: Cashback on purchases completed during the month is paid in Bitcoin to your Xapo BTC account on the 1st of the following month, the same day your new allowance is set.
Key dates for November:
Qualifying cashback allowance: 20% of your average USD account balance calculated from 1-31 October
Payout date for November spending: 1 December 2026
Qualifying spend for November: only purchases made from 9 November’s launch will qualify for cashback in November. From December, all eligible purchases during a month will earn up to your allowance.
Qualifying balances: Only your USD account balance counts towards your cashback allowance. USD Savings, Bitcoin, and investment balances are not included.
Practical examples
How your allowance grows
The higher your average USD account balance, the more Bitcoin you can earn from cashback. By holding more USD in your standard USD account, you can increase next month’s allowance.
Purchases that earn cashback
Most everyday card purchases earn cashback. A small number of categories do not: gambling, cash-like payments, brokerage, tax, government services, insurance and charitable donations. These purchases do not use up your allowance.
See your allowance
From 9 November, open the Xapo app to see your allowance for the month and how much is left. Then spend as you normally would. Your Bitcoin arrives on 1 December.
Make sure to view the FAQ for further details.
