"Hi, this is Bruno from Xapo Bank, I'm reaching out to you about your Xapo account..."
Those words should trigger immediate caution. Why? Because that call might not actually be from us.
Phone scammers have become alarmingly good at mimicking banks, right down to making their calls appear to come from our official phone numbers. That's exactly why we've created our new Phone Call Verification system – a simple way to know, without doubt, whether you're really speaking with Xapo Bank.
Why we built this feature
Scammers trying to impersonate banks is the bread and butter of financial fraud. It can get even worse if they specifically target Xapo Bank customers – after all, a private Bitcoin-enabled bank might seem like a more lucrative target compared to traditional banks. These fraudsters are disturbingly thorough – they research names, find personal information like email addresses or birth dates looking for data breaches elsewhere, and they can even mimic our hold music. Fortunately, most people sense something isn't right and hang up – but this reality highlighted a vulnerability that needed to be addressed.
We wanted to create something foolproof yet elegantly simple – a verification method that works both ways. Not only can you verify it's truly us calling, but we can also confirm we're speaking with the rightful account holder, not someone who's gotten hold of your phone.
How our phone call verification works
Our verification system creates a secure communication channel through a simple, elegant process:
Before a call: When a Xapo Bank representative needs to call you, they'll activate the call verification system.
In your app: You'll immediately see a notification in the Help section informing you that we are on the line. Once you tap on the notification, your Xapo Bank app will display two unique verification codes:
Account Manager Code: This code will be provided by the Xapo representative during the call to prove they are legitimate.
Client Code: You'll share this code when asked to confirm you're the authorised account holder.
During the call: The representative will identify themselves and provide their Account Manager Code, which you can verify matches what you see in your app. They'll then ask for your Client Code to complete the two-way verification.
The security rules that matter
Fresh codes, every time: No recycled codes here. Each time we call, you'll see brand-new verification numbers generated just for that conversation.
Only trust what's in your app: We're strict about this one – verification codes only appear in your Xapo Bank app. Not in texts. Not in emails. Not in WhatsApp messages. If someone sends codes through these channels claiming they're from Xapo, they're lying.
Wrong code? Hang up. Immediately.: If the caller stumbles, gives the wrong code, or tries to explain why they "can't access the code right now" – that's your red flag. End the call. It's not us.
Codes vanish when they should: Your verification codes aren't permanent residents in your app. They appear when needed and disappear shortly after the call ends.
When might you get a call from us?
Let's be clear – we're not phone people. We prefer chatting with you through our secure in-app messaging. We'll only pick up the phone when:
Something needs discussing that's too nuanced for text
You've specifically asked us to call you
We've got something exciting to share that deserves a conversation
We've spotted something unusual on your account that needs immediate attention and you haven't responded to our app messages.
Even then, we'll typically message you first to schedule a call. We're not fans of the unexpected doorbell ring approach to banking relationships.
But whether we've scheduled the call or need to reach you urgently, the verification system works the same – check your app, verify the code, and know for certain it's really us.
Obsessed with security (in a healthy way)
We've been called the "Fort Knox of Bitcoin" for good reason. We're slightly obsessive about security – and proud of it.
This new verification system isn't a standalone feature; it's another piece in our security ecosystem. Think of it as adding another lock to an already impressive vault door. Your biometric authentication gets you into the app, our encryption protects your data, our custody approach safeguards your assets, and now our call verification ensures even unlikely phone conversations stay secure.
Ready to Go
The best part? You don't need to do a thing. No settings to fiddle with, no preferences to adjust, no boxes to tick. The verification system is already active for your account.
The next time your phone rings with a Xapo Bank call, just open your app, tap on Help, and there they'll be – your verification codes, ready to ensure you're talking to the real deal.
Have questions? Thoughts? Feedback on the new system? Your Account Manager is just an in-app message away. We're genuinely interested in hearing how this works for you.
