How does the Xapo card cashback work?

How does the Xapo card cashback work?

Anytime you spend with your Xapo Card, you will receive cashback.

How much will I receive?

The amount of cashback received varies depending on the merchant’s region. If the merchant is based in the European Economic Area (EEA)*, UK, Gibraltar or Switzerland, each purchase earns 0.2%. Outside the EEA, you will receive up to 1%, when using your metal card and 0.5% when using your plastic or virtual card.

We calculate your cashback based on the billing amount (i.e. your purchase amount in US dollars) and convert it to its equivalent in Bitcoin, paying it automatically to your Bitcoin balance whenever you spend with your card. Cashback less than $0.005 is rounded down to the nearest cent, while anything greater or equal to $0.005 is rounded up.

Note that, since it is calculated in US dollars, the amount you receive might be affected slightly by FX fluctuations.

Should your account balance drop below zero, your Xapo Card cashback can be used to offset some (or all) of the negative balance.

How do I claim my cashback?

You do not need to do anything to claim your cashback – we add it to your Bitcoin balance automatically every 5th of the month which you can see reflected per transaction by navigating the Earnings section in the Xapo Bank app.

A note on previously assigned cashback.

If you made a cashback-eligible purchase with your Xapo Card and then returned it to receive a refund from the merchant, we will waive the previously-assigned cashback.

The same applies to any kind of refund, including those resulting from transaction dispute processes. Naturally, declined or cancelled transactions will neither generate cashback.

The exchange rate applied whenever a transaction is made in a currency other than US dollars will be that of MasterCard or Visa. The same will apply to its assigned cashback credit. In this way, any waved cashback will be debited in US dollars. This amount may slightly differ from the original amount debited due to exchange rate fluctuations.

You will be able to spot any cashback-related activity in your transaction history.

I have an issue with my cashback

If you think something’s not right with your cashback, please reach out to us via the in-app chat function within 15 days of the cashback receipt. We will do our best to fix any problems imminently, but please be aware that manual review can take up to 60 days.

Exclusions from cashback

You will not receive cashback from ATM withdrawals or declined card transactions.

Certain Merchant Category Codes (MCCs) are also excluded from cashback:

• 6011: Automated Cash Disbursements
• 4829: Money Orders - Wire Transfer
• 4900: Electric, Gas, Sanitary and Water Utilities
• 6010: Financial Institutions - Manual Cash Disbursements
• 6011: Financial Institutions - Manual Cash Disbursements
• 6012: Financial Institutions - Merchandise and Services
• 6050: Quasi Cash - Customer Financial Institution
• 6051: Non-Financial Institutions - Foreign Currency, Money Orders (not wire transfer), and Traveler's Cheques
• 7995: Betting (including Lottery Tickets, Casino Gaming Chips, Off-track Betting, and Wagers)
• 9211: Court Costs, including Alimony and Child Support
• 9222: Fines
• 9223: Bail and Bond Payments
• 9311: Tax Payments
• 9399: Government Services (Not Elsewhere Classified)
• 5172: Petroleum and Petroleum Products
• 6300: Insurance Sales, Underwriting, and Premiums
• 6381: Insurance Premiums (no longer valid for first presentment work)
• 6399: Insurance, Not Elsewhere Classified (no longer valid for first presentment work)
• 7012: Timeshares
• 7276: Tax Preparation Service
• 7361: Employment Agencies, Temporary Help Services
• 7392: Management, Consulting, and Public Relations Services
• 8931: Accounting, Auditing, and Bookkeeping Services
• 7512: Car Rental Companies (Not Listed Below)
• 7513: Truck and Utility Trailer Rentals
• 7519: Motor Home and Recreational Vehicle Rentals

If you require assistance, please reach out to us via in-app chat or email [email protected]. We would be happy to help.

(*) The EEA includes the following countries, islands, and territories: Austria, Belgium, Bulgaria, Croatia, Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom, Canary Islands, Ceuta, Melilla, Azores, Madeira, Åland Islands, Jan Mayen, Gibraltar, French Guiana, Guadeloupe, Martinique, Réunion, Saint Martin (French Part), and Mayotte.

The EEA does not include Andorra, Monaco, San Marino, Switzerland, Vatican City, Antarctica, Greenland, Faroe Islands, Akrotiri, Dhekelia, Saint Pierre and Miquelon, Saint Barthélemy, Saint Martin (Dutch Part), Svalbard, Falkland Islands, Channel Islands, Isle of Man, Pitcairn, Henderson, Ducie, and Oeno Islands, Saint Helena, Ascension and Tristan da Cunha, South Georgia, and the South Sandwich Islands.