Euro Pacific Bank SEPA MasterCard AEOI / CRS?

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gridline

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Hello,

I am a customer with the Euro Pacific Bank, and has generally been happy with them. However they got a new prepaid master card supplier, and I got a PrePaid SEPA MasterCard supplied by "Wirecard Solutions Ltd".
My account with EPB is registered in an offshore company, but I am living in an European country.

Does anyone know if I can use this card without having to worry about my spendings being reported to my local countries tax authorities through AEOI / CRS?
 
Hi.

Have the same situation. Only I have "Individual (Personal)" account.
I've asked EPB support about it. Will see what they'll answer.

Will be very stupid situation if "Wirecard Solutions Ltd" collect EPB card activity and report through AEOI / CRS.
 
Grigorijs said:
Grigorijs said:
Hi.

Have the same situation. Only I have "Individual (Personal)" account.
I've asked EPB support about it. Will see what they'll answer.

Will be very stupid situation if "Wirecard Solutions Ltd" collect EPB card activity and report through AEOI / CRS.
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Yes exactly, it seems like the card I got is also an individual one. I havent asked EPB about it though. Please update if you find out more. 🙂
 
gridline said:
gridline said:
Please update if you find out more.
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My question to EPB.
I've got a PrePaid SEPA MasterCard supplied by "Wirecard Solutions Ltd". Which is registered in UK.

What kind of an information of my bank account / card activity collecting this organization "Wirecard Solutions Ltd"?

So can I use this card without having to worry about my spendings being reported to my local countries tax authorities through AEOI / CRS?
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And the answer from EPB (about nothing)
This is ***** a client service associate at Euro Pacific Bank.

Thank you for your inquiry, with regard to Automatic Exchange of Information (AEOI) , Euro Pacific Bank reports to the financial regulators of St. Vincent and the Grenadines, we do not report to any other country.

It is noted that St. Vincent and the Grenadines will sign on to this in 2018, however information of Euro Pacific Bank's clients will not automatically be shared with European governments and if it has to be shared we will notify our clients.

With this upcoming procedure and considering the confidentiality of the bank, we have received our Puerto Rican License and will be moving accounts away from SVG to them.
Please note that Puerto Rico will not be signing on to the AEOI.

Please note we are 100% reserve bank and there is a big difference between our bank and a local banks that leverages clients deposits to make loans.

100% of your money sits available at our bank and we do not put your savings at risk to make profits.

Kind Regards,
******
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Thanks for response, Grigorijs.

I got this response from EPB:
"Please be advised, the new card issued to you is registered to your corporate account with us."

I also found this which might be relevant:
Payoneer / firstpaychoice and Automatic data exchange from OECD

So it seems like it is not a personal card afterall, and Wirecard will not be doing AEOI on behalf of the user/company of the card, as it it actually EPB which is the client of Wirecard, not the holder of the card, or something like that.
 
gridline said:
gridline said:
Hello,

I am a customer with the Euro Pacific Bank, and has generally been happy with them. However they got a new prepaid master card supplier, and I got a PrePaid SEPA MasterCard supplied by "Wirecard Solutions Ltd".
My account with EPB is registered in an offshore company, but I am living in an European country.

Does anyone know if I can use this card without having to worry about my spendings being reported to my local countries tax authorities through AEOI / CRS?
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Hello, please a question: like the wirecard solutions service for the prepaid card, you know some independent service to charge customers with a card. payment processing system. Thank you.
 
josedavid said:
josedavid said:
Hello, please a question: like the wirecard solutions service for the prepaid card, you know some independent service to charge customers with a card. payment processing system. Thank you.
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Have you tried with 2co and their Virtual Terminal ?

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Well, I'm outside of Sepa, and we are still to get a new card from EPB ...
Almost 2 months now ...
 
gridline said:
gridline said:
Thanks for response, Grigorijs.

I got this response from EPB:
"Please be advised, the new card issued to you is registered to your corporate account with us."

I also found this which might be relevant:
Payoneer / firstpaychoice and Automatic data exchange from OECD

So it seems like it is not a personal card afterall, and Wirecard will not be doing AEOI on behalf of the user/company of the card, as it it actually EPB which is the client of Wirecard, not the holder of the card, or something like that.
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Im not so sure because name printed is our, not of Company.

Someone Is 100% sure ?
 
cristiansilva33as said:
cristiansilva33as said:
Did you receive your new EPB card? I'm also out of Sepa, and I opened a new EPB account a few weeks ago.
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I just saw this 🙂)
Nope! we are closing in on one year, no card yet ...

Can anybody explain why this mastercard thing where they cut access to non sepa region ? not just epb, a lot of services who used to provide cards are dead because of this ...
 
Edge said:
Edge said:
Can anybody explain why this mastercard thing where they cut access to non sepa region ? not just epb, a lot of services who used to provide cards are dead because of this ...
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Card scheme regulations (both Visa and Mastercard) limit the way issuers can issue cards to people who are resident outside of the jurisdiction or region where the issuer is licensed.

Simply put, an EU issuer can practically only issue cards to EU residents.

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This is the probably the answer to your question.
 
Someone know if with EPB corporate account, with Eur debit card (issued in Uk), is under CRS?
My dubt is why, account where debit card is charged, is a corporation. But the card is personal.

The same problem is for who have Payoneer corporate account with debit card.
I'm EU citizen.

Someone have also fee/limits of EBP debit card?

Thanks a lot
 
EPB allows 750 EURO / daily withdrawal.
10k max. load limit.
10k max daily charge limit.
 
Bank won't be around much longer I predict so card issues is least of your worries smi(&%. I have a prediction in another thread that EPB will be dead by end of 2019.

The world is a different place now for banking. I can't get my head round EPB's management strategy of avoiding CRS and allowing shell companies conf/(%

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
bombastick said:
bombastick said:
Source? What makes you believe that ?
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Welcome to the forum thu&¤# I sense you have personal interest here as you suddenly joined and made your first post on this topic 😛.

Read the older threads on EPB like the one below in full 😕.

https://www.offshorecorptalk.com/threads/euro-pacific-bank-dataleak.24445/

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