EPB kicked out of Perth mint ?

[Edge]

Someone posted the news a while back about perth mint facing problems ..

The inevitable seems to be happening, they kicked out epb ..


Part of an email from epb :

Dear Client,
................................

As you may be aware, all gold and silver in the Precious Metals Storage Account are currently stored at The Perth Mint in Australia.

On October 29, 2020, we will be ending our relationship with The Perth Mint and will be moving to a new custodian for all precious metals holdings.

Although there are numerous benefits from this move, you will be charged a Custodian Transfer Fee, ..................................

 

[Silvio]

At this point anybody that still uses this bank deserves what he gets

 

[JohnLocke]

I dount that anyone is using them after this, thanks for the information OP!

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[Martin Everson]

Edge said:
Someone posted the news a while back about perth mint facing problems ..
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That was me that posted the below thread smi(&%

https://www.offshorecorptalk.com/th...money-laundering-tax-haven-blacklisted.30055/
Plus I mentioned in same thread back on 2nd August the below:

Martin Everson said:
If JP Morgan and HSBC drop and blacklist the Perth Mint then other banks who deal with those banks will have to blacklist Perth Mint in order to maintain relationships with those banks. EPB we already know is a bank used predominately by tax evaders and criminals. Why anyone would wait for EPB to be blacklisted or for Australian gov and Australian banks to force Perth Mint to terminate relationships with EPB and its likes is beyond me.

People can't say they weren't warned now 🙁.
Click to expand...

Hope people followed my advice back then. I was spot on the money yet again.

P.S Avoid EPB period or go down with that sinking ship. They need to investigate Schiff Gold for alleged money laundering next ns2. They may soon lose their correspondence banks and your money is stuck...lol.

Last edited: Oct 7, 2020
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[CreamSoda]

I have always felt confident in the full reserve banking they offer, as I have experienced bank collapses and the use of government insurance in the past. However, EPB continue to upset that earned favour on an almost daily basis. Such a shame, and I hope those who are still with EPB can get their funds out relatively hassle-free.

 

[bigladsmith]

Is this the beginning of the end for EPB?

Once the correspondent banks serve notice on EPB then it's just a matter of time. I'll watch with interest.

Those that use the banking system of PR to do what they do might have to seek alternatives but from the limited details I've seen these others are even more expensive than EPB, have no better service and most can't even offer a debit card.

 

[lory]

I agree, Euro Pacific Bank is over, this is going to hurt them and the remaining bank customers!

 

[Martin Everson]

CreamSoda said:
I have always felt confident in the full reserve banking they offer,
Click to expand...

Why? Where is their audited accounts to support this lie they keep telling customers?

CreamSoda said:
I hope those who are still with EPB can get their funds out relatively hassle-free.
Click to expand...

I do too. EPB is yet to prove all the funds are even there however.....lol.

bigladsmith said:
Once the correspondent banks serve notice on EPB then it's just a matter of time. I'll watch with interest.
Click to expand...

I just hope no one on here is last out the door.

bigladsmith said:
Is this the beginning of the end for EPB?
Click to expand...

EPB has no future with a a core client base of tax evaders, shell companies and americans using second passports. It's not a viable business model in 2020.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[CreamSoda]

Martin Everson said:
Why? Where is their audited accounts to support this lie they keep telling customers?
Click to expand...

My choice of words were incredibly poor, and I'd like to thank you for picking up on that. Rephrasing; I feel confident in the idea of full reserve banking when no government deposit protection is in place. It is true that I have not seen any evidence that EPB either do or do not operate on a full reserve basis.

 

[lory]

CreamSoda said:
Rephrasing; I feel confident in the idea of full reserve banking when no government deposit protection is in place. It is true that I have not seen any evidence that EPB either do or do not operate on a full reserve basis.
Click to expand...

sounds true, I have not read a thread with evidence they do!