How does Xapo Bank calculate FX fees for card transactions?
When you spend money abroad or shop online in a foreign currency, some banks might offer an exchange rate with a hidden markup. This can lead to paying more than expected, even if no additional fees are clearly stated.
How does Xapo Bank calculate FX fees for card transactions?
When you spend money in another currency, some banks add extra fees or mark up the exchange rate. At Xapo Bank, you get the exchange rate from our card network, with no extra fees.
How are exchange rates set?
The European Central Bank (ECB) publishes daily reference rates, but these are not used for individual card transactions.
The exchange rate for your transaction is set by the card network (Visa or Mastercard).
Some banks add extra fees, but Xapo Bank does not.
You can use the official Visa or Mastercard exchange rate calculator to check the rate used for your transaction. Set "Bank fee (%)" to 0%, as we do not charge extra fees.
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