Opinions on Banks

[RedRocket]

Hey all!

I stumbled across this great forum while doing some research on a bank. I've searched on the following banks but did not find anything.

1) Strategic Bank (Strategic Bank | 100% Safe & Digital Private Bank) - Located in Puerto Rico
2) Bermuda Commercial Bank Limited (Bermuda Commercial Bank Limited) - Located in Bermuda
3) Petrus Private Bank (Petrus Private Bank) - Located in St. Lucia

Do you guys have any experience with the following banks? Any feedback would be appreciated.

TIA

 

[Martin Everson]

Why would anyone want to use any of these banks? Are they offering anything special like banking offshore companies, crypto friendly etc? I don't think average person would bother with any of these banks otherwise.

P.S Strategic Bank - "100% Safe & Digital Private Bank".

....They are having a laugh with that slogan.

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

 

[jafo]

Martin Everson said:
Strategic Bank - "100% Safe & Digital Private Bank".

....They are having a laugh with that slogan.
Click to expand...

I tried searching for them in Puerto Rico, but couldn't find them. How difficult could it be to open a digital bank in Puerto Rico?

 

[RedRocket]

Martin Everson said:
Why would anyone want to use any of these banks? Are they offering anything special like banking offshore companies, crypto friendly etc? I don't think average person would bother with any of these banks otherwise.

P.S Strategic Bank - "100% Safe & Digital Private Bank".

....They are having a laugh with that slogan.
Click to expand...

I have a St. Lucian company and am happy with BOSLIL bank. I would like a second bank account just for backup purposes.
Searching on the forum Hermes bank in St. Lucia may not be a wise option.

I don't need any special banking products. Crypto friendly would be nice but not a requirement. I would like stability and reputation.

jafo said:
I tried searching for them in Puerto Rico, but couldn't find them. How difficult could it be to open a digital bank in Puerto Rico?
Click to expand...

You visited the office address listed on their website?

 

[Sols]

Strategic Bank is not technically a bank. Just another international financial entity in Puerto Rico. Look at Euro Pacific Bank for an indication of what can happen there. The content on the website is amateurish and misleading. But I can't comment on the "bank" itself.

BCB is one of Bermuda's biggest banks and a bank. Practically impossible to open an account without strong connections to Bermuda, though.

Petrus Private Bank is just another offshore bank licensed in the Caribbean under outdated banking regulations. Correspondent accounts for such banks are increasingly difficult to open, not to mention maintain. Moving money in and out of such banks is unpredictable and it's discouragingly common to have money stuck for weeks or months, unless you agree to ”” at some great cost ”” convert your balance to some currency that the bank is able to transact in. Again, can't comment on the specific bank. Just the unfortunate reality around banks like it.

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This is the probably the answer to your question.

 

[jafo]

RedRocket said:
You visited the office address listed on their website?
Click to expand...

Like going there physically? No.
I am trying to find them on Puerto Rico's government pages first.
Are they legit?

 

[Sols]

jafo said:
Like going there physically? No.
I am trying to find them on Puerto Rico's government pages first.
Click to expand...

https://ocif.pr.gov/Consumidores/Lista Concesionarios/Entidades Financieras Internacionales.pdf

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This is the probably the answer to your question.

 

[Martin Everson]

RedRocket said:
I have a St. Lucian company and am happy with BOSLIL bank.
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You mean Proven Bank?

Why not open with their Cayman Islands branch if you already have an existing relationship with St Lucian unless you want to bank outside the group.

RedRocket said:
I would like a second bank account just for backup purposes.
Searching on the forum Hermes bank in St. Lucia may not be a wise option.

I don't need any special banking products. Crypto friendly would be nice but not a requirement. I would like stability and reputation.
Click to expand...

You can try Cayman National bank or CIBC FirstCaribbean.

For riskier and crypto friendly you can try Tethers bank Deltec Bank.

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

 

[RedRocket]

Martin Everson said:
You mean Proven Bank?

Why not open with their Cayman Islands branch if you already have an existing relationship with St Lucian unless you want to bank outside the group.


You can try Cayman National bank or CIBC FirstCaribbean.

For riskier and crypto friendly you can try Tethers bank Deltec Bank.
Click to expand...

Yes Proven Bank but would prefer to bank outside of the group.

Cayman National Bank requires a connection to the Cayman Islands.

A quick search on the forum didn't instill confidence in Deltec.

I forgot about CIBC, I will check them out.

 

[Martin Everson]

RedRocket said:
A quick search on the forum didn't instill confidence in Deltec.
Click to expand...

I would 100% agree. I have posted about them already. It is a bank for someone with a riskier appetite.

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