Quote from: dunchy on October 21, 2015, 10:52:40 PM

Used my debit card this night (21 of October) at 21:35. My card is denominated in EUR. BTC to EUR exchange rate used: 205.61 EUR/BTC. That was 12.76% hidden fee in btc2eur conversion in comparison to e.g. Kraken at that point in time. SLEAZY. Really sleazy Xapo.

We've provided an explanation in this and other threads. I will try to clarify and explain the difference in btc rates for your debit card. If you have questions let me know:

Why does my transaction history show a lower bitcoin exchange rate when I make a debit purchase?

Let's say you have a EUR card and travel to the US. You go out and buy a $30 lunch at a $300 btc exchange rate. You do the math in your head and confirm your lunch cost 0.1 btc. You get the push notification of the charge for 0.1btc and are happy. You then check the transaction details and see that in fact the exchange rate was not $300, but $299. Angry?!

Another example..
Now let's say you went to the ATM and took out $100 at the $300 exchange rate. You do the math in your head and confirm you took out .33btc. You get the push notification of 0.33 btc and are happy. You then check the transaction and see that the exchange rate was lower, say $285. Angry

?!

So, why does this happen?

When you make these purchases the app will show the price paid for the item. However, in some cases there are fees such as foreign exchange rate or those charged at the ATM (by our issuer or the ATM itself) that are currently not getting itemized in the transaction log. In other words, instead of adding the charges as a $ amount on top of the cost of your item it will compensate by showing a lower btc exchange rate.

In the examples above, instead of showing your lunch cost $30 at $299 exhchange rate, the correct way is to display a $31 lunch at $300.
Or in the exampe of the ATM it should show the amount you are withdrawing plus the fees (which will vary depending on how much you take out and the ATM you are using) at a $300 exchange rate.

We are working on itemizing the additional charges so that you can see how much was paid for what. Once this is finalized the exchange rate will be fixed and correct, and you will see any additional charges added on top of the fiat amount charged.

The bad news is that this is still being built.
The good news is that no, we are not cheating you by doing a workaround of the exchange rate.

If you think I can explain further let me know. I am happy to try to answer any questions. If you are concerned about a specific transaction related to your debit card you can reach out to us at debit@xapo.com and we will take care of you.