[IkmoIkmo]

No I don't think so. The currency conversion as I understand it is when e.g. a European customer gets a Xapo card linked to an EU issuer, when he or she makes purchases say in India with that card, there's a currency conversion. These are rare occurrences and no different from other cards (that tend to charge lower for fx conversion, like 2% though)

The currency conversion fee doesn't relate to regular payments which are completely free. (except of course, for merchants paying 1-3% on any card transaction from anyone pretty much)