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What are the different types of accounts that I can create? (U.S. only)
This article is designed for U.S. residents only.
If you reside outside of the U.S., please use this article:

There are two types of accounts you can create: spending accounts and savings accounts (also known as Vaults).

A spending account is designed for you to use on a daily basis. You can add, withdraw, send or receive money instantly and globally from your spending account. The USD balance of your main spending account is linked directly to your Xapo Card, allowing you to spend your money on purchases and expenses in US Dollars. You can also create as many spending accounts as you would like, and freely move money between any of your accounts whenever you wish.

A savings account (or Vault) is designed as a storage account for you to keep your money safe. Xapo's Vault has been a longstanding popular product that uses deep-cold storage security to safely store bitcoins. You can deposit and retrieve money between your spending accounts and Vaults, for when you would like to safely tuck away your funds. Creating a new Vault comes at no cost, and there is no monthly fee for owning one!

In addition to the two different types of accounts, you can create an account as either a personal or business account. Personal accounts are intended for individual use, while business accounts are designed to be shared between multiple account members with different assigned roles, allowing you to control who can initiate transfers and payments, add and remove users, and set approval levels for different users. While business accounts are generally used by (you guessed it, businesses), the multi-user function can be used by all!

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