I recently got my Xapo debit card, really cool looking and just got to try it.

I did a small test transaction while noting the prices from Bitstamp, Kraken, Xapo and Visa exchange rate for reference.

My card is using the Euro currency and so was my transaction's currency. So based on Xapo's support pages, there shouldn't be any exchange rate fee applied:

If you use your card for purchases in your card spending currency, no fees are charged. If the purchase is made in a currency that's different from your card's spending currency, a 3% Foreign Exchange fee is applied

And here are the exchange rates.

So in my transaction EUR->EUR, it was basically like having an extra ~1.9% fee.

I think I would prefer a small flat fee rather than a fake "free" purchase with hidden percentage fees.

Xapo, be more transparent, clear things up.