Yearly cost at three spending levels
| Monthly spend | Xapo | CL Card |
|---|---|---|
| $500 | -$1,024 Membership | -$142.15 Standard |
| $2,000 | -$1,024 Membership | -$322.15 Standard |
| $5,000 | -$1,024 Membership | -$682.15 Standard |
Net value per year: cashback minus conversion, FX, ATM and fixed fees. US dollars, 20% foreign spending, one $200 ATM withdrawal a month. The card cost calculator runs the same comparison with your own habits.
Where the money goes at $2,000 a month
| Line | Xapo Membership | CL Card Standard |
|---|---|---|
| Top-up and conversion fees | $0 | -$528 |
| Spending fees | $0 | $0 |
| Foreign exchange markup | $0 | $0 |
| ATM fees | -$24 | -$34.15 |
| Annual, monthly and subscription fees | -$1,000 | $0 |
| Cashback | $0 | +$240 |
| Net per year | -$1,024 | -$322.15 |
Fees
Xapo charges 0% to convert or top up and 0% on spending in a foreign currency. CL Card charges 2% and 0%.
The conversion fee applies to every dollar you load, so Xapo's lower rate matters most for everyday spending in your home currency. On $1,000 of spending, the gap is $20.
ATM withdrawals: Xapo 2% after $100 free a month; CL Card €2.50.
A virtual card costs nothing with Xapo and nothing with CL Card. A physical card costs nothing and an undisclosed fee.
Cashback and rewards
Xapo cashback: None. CL Card cashback: 1% to 2%.
Xapo tiers: Membership: 0%.
CL Card tiers: Standard: 1%; BXX rewards: 2%.
Xapo: Xapo pays cashback in Bitcoin only through limited-time offers, such as 3% on rideshares with the Metal card from 1 July to 30 September 2026. The membership also includes interest on USD savings, paid in Bitcoin.
CL Card: Ledger's page says "1% cashback in BTC, USDC, or USDT" (BTC or USDC in the US, BTC or USDT elsewhere), claimed from the Loyalty program page. CL's own FAQ also offers 2% if you take the reward in Baanx's BXX token. Spending funded by the Cryptodraft credit line earns nothing. No spend or reward cap is published.
Availability and KYC
Xapo does not publish a country list. Xapo Bank does not publish a list of countries where membership is open.
CL Card is offered in 37 countries, including France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, United Kingdom, United States and Canada. Ledger says "The CL Card is currently available in the EEA, the UK, the US, Canada, Switzerland, Colombia, Mexico, and Brazil." This file uses the EU fee schedule. You do not need a Ledger device to get the card.
Xapo needs full KYC and CL Card needs full KYC.
The card finder checks both cards against your country, KYC level and must-have features.
Limits, wallets and card types
Xapo does not publish fixed spending or ATM limits.
CL Card does not publish fixed spending or ATM limits.
Xapo does not list Apple Pay or Google Pay support, and CL Card works with Apple Pay and Google Pay. Xapo and CL Card issue a virtual card you can use straight away.
Custody and safety
Xapo scores 69/100. Licensing: holds a licence or registration outside the tier-one list (Credit institution regulated by the Gibraltar Financial Services Commission (Permission No. 23171); crypto services by Xapo VASP Limited, a GFSC-regulated DLT Provider (Permission No. 26061)). No incidents or enforcement actions found in the last 36 months. Xapo says Bitcoin is held 1:1 and legally segregated under Gibraltar's DLT framework, never lent or rehypothecated. USD deposits are covered by the Gibraltar Deposit Guarantee Scheme; crypto balances are not.
CL Card scores 64/100. Licensing: issued by a bank or e-money institution regulated in a tier-one jurisdiction. The card is issued through UAB Monavate. No incidents or enforcement actions found in the last 36 months. Only money loaded to the card as e-money is safeguarded under e-money rules. Crypto deposited to the CL platform becomes Baanx's property, and Baanx's terms warn that "in the event that any of Us becomes insolvent ... You may not be able to have the full value of Your deposits restored". Baanx describes its crypto services as "not regulated financial services". We could not find a published proof-of-reserves report. We found no official enforcement actions against the card providers. Ledger's own past security incidents are not listed, because Ledger does not provide or hold funds for the card.
Full reports: Xapo safety check and CL Card safety check.
About each card
Xapo Bank Card is a custodial Visa card from Xapo Bank Limited (Gibraltar). It tops up with USD, BTC, USDC and USDT.
Ledger CL Card (Europe) is a custodial Visa card from Baanx (CL Card), card account by UAB Monavate. It tops up with BTC, ETH, USDT, USDC, LTC, XRP and SOL and its balance is held in EUR.
Which card fits you
Xapo fits if
- Most of your spending is in your home currency, where its lower conversion fee counts most.
- You weigh licensing and fund segregation heavily, since it scores higher on our safety check.
CL Card fits if
- You want a higher cashback ceiling (up to 2%).
Read more: Xapo fees and details · CL Card fees and details