# Is Xapo Bank a paid service?

> This deposit covers your first annual $150 fee.  After opening your account, you will have 30 days to deposit at least $150. It can be done either in U...

Source: https://customersupport.xapo.com/en_us/is-xapo-bank-a-paid-service-SJtiNDWuu

Last updated: 2024-09-19T14:10:30.955Z

  
Our premium banking service is subscription-based. The annual Xapo Bank membership fee is automatically deducted in full when you have a balance of at least USD 1000 or the equivalent in Bitcoin. If your balance is insufficient, your Xapo Bank account will be restricted until you add sufficient funds.

The deduction of your membership can be done either in US dollars or its equivalent in Bitcoin converted at the time of billing.   
  
Please note that we can not use a combination of the two currencies, so you will need to deposit either the full amount in US dollars or the equivalent in Bitcoin.

Learn more about Xapo Bank’s benefits [here](https://customersupport.xapo.com/en_us/what-are-xapo-bank-s-benefits-rJeR2V5ia).