Which is why Peter said "I really cant speak freely about what happened and why until after everyone gets thier money back".....
Euro Pacific bank is a scam
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Which is why Peter said "I really cant speak freely about what happened and why until after everyone gets thier money back".....
Peter, Im concerned about bank runs, banking crisis and our money been stuck in this useless NOVO BANK and risk exposure here, particularly in Europe. Realisitically when can we expect to get our money back? As I understand you hired a lawyer in Portugal to deal with NOVO BANK, is there nothing to disclose on this? Has the lwayers action concluded or is it still ongoing? Im considering requesting a freedom of information request from HMRC to see if they are involved in this NOVO BANK debacle holding up the funds, as in that case I will hold them accountable for losses incurred as a result of thier interference.
Hi
At least they answered but passed you on to the Central Bank. Did you contact the Central Bank?
I contacted the Head of OCIF and the Receiver but got no reply.
I think if the freeze continues then I think customers have to consider their own legal action. Perhaps we can collectively use the same lawyer to spread the cost.
At the moment it seems not many customers have found this forum.
At least they answered but passed you on to the Central Bank. Did you contact the Central Bank?
I contacted the Head of OCIF and the Receiver but got no reply.
I think if the freeze continues then I think customers have to consider their own legal action. Perhaps we can collectively use the same lawyer to spread the cost.
At the moment it seems not many customers have found this forum.
Emailed directly and raised a complaint last week online: Formulário de nova reclamação | Portal do Cliente Bancario
still waiting for a reply... or at least an acknowledgement.
IMO the responsibility for this falls onto Europacific Bank, since they selected the correspodant bank....
Yes you're right Euro Pacific Bank which is now managed by the Receiver should be working hard to ensure customers receive their funds.
As Peter Schiff has said above , a Portugese lawyer has been hired to help resolve the problem. But so far no apparent progress.
Then it's maybe time to write to EPB and CC most of us in this group? My email just in case it is decided so [email protected]
The more emails, the merrier...
The more emails, the merrier...
I have written a number of times to EPB . Unfortunately they just reply with the usual bland statements they post on the EPB website. They claim not to know anything about the discussions between the Receiver and the correspondent bank. I am sure they do know more but they don't say anything useful to customers.
Unfortunately EPB is now managed by the Receiver. He seems to have every incentive to keep the liquidation process going on forever. EPB Customer Services said the Receiver would start replying to customer emails - that was back in January. Since then he hasn't replied to any of my emails. I don't know if he has replied to anyone else on here?
Hi there,
I' m from France and I am so glad to realize that I m not the only one in the same situation. I have 150k in EPB, I tried to do a wire transfer back in september to move my money but it's been 8 months that the wire is still waiting for authorization... 8 months !! It's enough. I called them each week last year and always the same answer: its' not in our hands anymore blabla... Then i stopped calling. Should we not hire an advocate all together to put them under pressure and do a collective action? how much time will it still last ?
Last edited: Mar 27, 2023
I' m from France and I am so glad to realize that I m not the only one in the same situation. I have 150k in EPB, I tried to do a wire transfer back in september to move my money but it's been 8 months that the wire is still waiting for authorization... 8 months !! It's enough. I called them each week last year and always the same answer: its' not in our hands anymore blabla... Then i stopped calling. Should we not hire an advocate all together to put them under pressure and do a collective action? how much time will it still last ?
sorry i tried to read everythging but i didn't see your comment... at least we could get a quote from a lawyer in porto rico and see how much he would charge and if there are chances that it could be a success to make them move... ?
Last edited: Mar 27, 2023
Hi Seize
Sorry to hear that you are in the same position as us.
The obstacle appears to be in Portugal where the correspondent bank is. As stated EPB and Peter Schiff have hired a lawyer in Portugal on behalf of customers to try and resolve the problem at the correspondent bank. So far we have not heard anything coming from that action. We live in hope.
hi
so it's great to hear that something has been done in portugal but should we not do something as well in porto rico to set these 2 banks in front of each other and see who is right or wrong and what's going on ? because it's clear that they play on the fact that EPB is an off shore bank and that people can only complain through internet and from far countries sometimes... Easy to resist... but seriously imagine that a regular us, uk or european bank was holding the funds of customers during almost one year... Everybody would be downstairs the HQs asking for their money. But we can not do this because it's offshore, and they know it, so it's abuse of power. How is it possible to hold funds for so long ? I'm not sure if i will see this money again and fortunately i don't really need it to live but more i could have placed this money and get at least 5% interests... But they hold it so i can't do anything from it. To me the harm is triple: 1 not having access to the funds, 2 no possible interests on the amount of money , and 3 loss of money because of this massive inflation that we have right now ! So it's not freezing the accounts it's making us losing the money, which is even worse....
Don't we have other solutions than waiting ?
Unfortunately i didn't study law but I know one thing: we let them hold our money during one year so if we still keep on waiting and doing nothing, next year everybody will be in the same situation...
Did you try complaining to the banking regulator in Portugal? Formulário de nova reclamação | Portal do Cliente Bancario
The EU has cross border complaints caleld FIN-NET
No unfortunately to me I was sticking to the EPB's updates I was aware that the bank was doing a migration towards qenta (which is in houston if i'm not wrong?) So I'm not even sure why Portugal is impled in this stuff... But maybe i should read the 27 pages to understand better. I just found this forum this morning, so i read really quickly...
But I m sure some of you did ? To me we have to do something collective...
Hi
If we took legal action in Puerto Rico I am not sure who we would be taking the action against. Nobody in Puerto Rico is stopping us get our money. The money has left Puerto Rico is my legal understanding - but I am not sure - I don't know much about law either.
That's why EPB/Peter Schiff hired a Portuguese lawyer. That's where the problem appears to be.
My understanding all the money has to go through the correspondent bank in Portugal, even for opt-in Qenta clients.
Last edited: Mar 27, 2023
I suggest that you read all the comments on this thread to understand the whole situation as you are obviously not well informed, but EPB should be providing an update this week.
Forget about complaining to Novo Bank or anyone in Europe, that's a waste of time, if this situation isn't solved in the very near future the only option left is getting on a plane and flying to Puerto Rico to see if the Receiver will tell you what's going on.
I have my option but it's just my opinion, no one wins anything by returning the funds, they are making money, customers are irrelevant, money talks! (when I say "they" I mean EPB, the appointed Receiver, and Novo Bank.)
I will read for sure in the next days...
If i follow what you say : epb, receiver and novo bank has nothing to win by returning the funds then it means all 3 are guilty so we have focus on the original one in mean EPB. From what i understood the advocate in portugal lead to nothing but we didn't try in puerto rico (if i'm not wrong). honestly puerto rico is only 8h planes from france so it's not a pb to go there, but they won't receive/answer me so i don't want to go there for nothing... I ve called them several times and always times and always the same answer... But how long will they still answer the phone . At some point the guys on the phone won't even get paid to answer so we will be able to talk to nobody... We have to do sometging quickly if not, yes : goodbye money. I've sweated to have it s**t, and I'm sure I'm not the only one.
Are we going to let them take our money without having trying everything?
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