Looks like an interesting bank to me , anyone has experience with this bank or otter banks ?
www.fvbank.us
www.fvbank.us
Any interesting banks in Puerto Rico besides Fvbank ?
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I tried onboarding with them quite a while ago. Process went pretty smooth till some point since then it got stuck. There was no communication at all from their side even after a few attempts from my side .
I have heard that Zenus Bank - Banking Beyond Borders | Apply to Open a US Bank Account is pretty common but can't share any personal experience with them.
I have heard that Zenus Bank - Banking Beyond Borders | Apply to Open a US Bank Account is pretty common but can't share any personal experience with them.
NGL, you made me go check and this is what I came up with...
and
Next questions are:
(1) How often do these banks collapse?
(2) What happens when they do collapse?
(3) Are there ANY guarantees?
There was this OTC post about it:︀ Puerto Rico’s first crypto bank puts island in exclusive club
and
Next questions are:
(1) How often do these banks collapse?
(2) What happens when they do collapse?
(3) Are there ANY guarantees?
There was this OTC post about it:︀ Puerto Rico’s first crypto bank puts island in exclusive club
I don't know about OP, but for me, it is that my info would be floating out there and the last thing I want is my personal data all over thousands of computers waiting to be hacked. Once hackers lay claim to my data, the number of problems and expenses I would have to go through to wipe these off servers would be a task worthy of Sisyphus. I would love to know if anyone has a solution to this.
Stay away of PR or you'll regret it, the Regulator (OCIF) closed my bank and appointed a useless Receiver, here I am over a year later still waiting to get my money back (5 other banks have been closed by the OCIF during the last years without a warning ⚠️)
And no, 99% of the financial institutions that are located in PR are not FDIC as they are not banks as such, they are online financial institutions but not a proper bank, there are only 5 banks FDIC in PR as of today.
And no, 99% of the financial institutions that are located in PR are not FDIC as they are not banks as such, they are online financial institutions but not a proper bank, there are only 5 banks FDIC in PR as of today.
It would be helpful if we knew his/her name. Anonymity backed up by the state's monopoly on violence gives these unproductive and easily bribed "people" the delusion that they are untouchable.
This person can someday show up at any of my friends' coffee shops. Wouldn't it be nice to know... 😉
This person can someday show up at any of my friends' coffee shops. Wouldn't it be nice to know... 😉
Her name is Natalia Zequeira Diaz, Commissioner of the OCIF in Puerto Rico, a fake woman only interested in her imagine that has no problem lying about the facts to the Press.
Puerto Rico is the Mecca of corruption, once they get you your money is stranded in that island︀ and they will drain you for as long as they want (I would happily tell︁ her all these things in her face if she gave me the chance.)
Yes, EuroPacific.
The other banks that have been closed are listed in the OCIF website,︄ all closed by the Commissioner.
Puerto Rico is the Mecca of corruption, once they get you your money is stranded in that island︀ and they will drain you for as long as they want (I would happily tell︁ her all these things in her face if she gave me the chance.)
Yes, EuroPacific.
The other banks that have been closed are listed in the OCIF website,︄ all closed by the Commissioner.
I mean,︀ whoever has been in the offshore space for a few years knew that Euro Pacific︁ was the place where every business who couldn't bank anywhere else went. There are even︂ comments in this forums from years ago predicting what was going to happen to that︃ bank sooner than later... And that's what happened, I don't believe an experience business person︄ in this forum is surprised about the current state of that bank
What about all the other banks that have been closed by the OCIF, could you have predicted those as well? And what about other banks that︀ have closed down voluntarily during the last year citing lack of clarity by the OCIF︁ to be able conduct regular businesses in Puerto Rico, in other words they fear the︂ actions that OCIF can take at any time.
The fact is that the Commissioner agreed︃ to the sale of EuroPacific to another institution just a few months prior, the other︄ financial institution (Qenta) was ready to inject millions in working capital to the bank as︅ she had agreed to the terms of the sale back in 2021, suddenly the Commissioner︆ changed her mind and closed the bank. The owner of the bank (Peter Schiff) tried︇ to inject more working capital into the bank but she didn't allow him, he then︈ asked to liquidate the bank himself in order to return costumer's deposits immediately, but once︉ again she said "no" and she appointed a Receiver with no prior experience who has︊ been charging the bank an average of $10K-$20K per month and dragging the process indefinitely,︋ here we are, more than a year later and customers are still penniless.
What about︌ the press conference she gave saying that EuroPacific was insolvent, and that's why she closed︍ the bank "to protect the interest of the costumers" however it turned out that all︎ deposits were accounted for and the bank had 3 million in working capital at the️ time it was shut down, closing EuroPacific was completely unnecessary and not allowing the sale of bank, or Peter Schiff to liquidate the bank was just evil, completely the opposite of what's happened to all those regional banks that have collapsed in the main land where the Regulator has done everything possible to save the banks, not to destroy the banks as the OCIF has done.
Puerto Rico as financial jurisdiction is finished.
The fact is that the Commissioner agreed︃ to the sale of EuroPacific to another institution just a few months prior, the other︄ financial institution (Qenta) was ready to inject millions in working capital to the bank as︅ she had agreed to the terms of the sale back in 2021, suddenly the Commissioner︆ changed her mind and closed the bank. The owner of the bank (Peter Schiff) tried︇ to inject more working capital into the bank but she didn't allow him, he then︈ asked to liquidate the bank himself in order to return costumer's deposits immediately, but once︉ again she said "no" and she appointed a Receiver with no prior experience who has︊ been charging the bank an average of $10K-$20K per month and dragging the process indefinitely,︋ here we are, more than a year later and customers are still penniless.
What about︌ the press conference she gave saying that EuroPacific was insolvent, and that's why she closed︍ the bank "to protect the interest of the costumers" however it turned out that all︎ deposits were accounted for and the bank had 3 million in working capital at the️ time it was shut down, closing EuroPacific was completely unnecessary and not allowing the sale of bank, or Peter Schiff to liquidate the bank was just evil, completely the opposite of what's happened to all those regional banks that have collapsed in the main land where the Regulator has done everything possible to save the banks, not to destroy the banks as the OCIF has done.
Puerto Rico as financial jurisdiction is finished.
Puerto Rico as a financial Jurisdiction finished years ago, it's been predicted for years and like️ I said any serious business owner who has been in the offshore space for years knew that and Euro Pacific was the example of a bank where people went when no other serious bank will touch their businesses. This forum is full of alert about avoiding Puerto Rico, Belize, Dominica... You name it, it's hard to trust such jurisdictions because as soon as an scandals goes on then deposits won't be safe because everybody will want their cut.
Unfortunately I didn't know anything about︀ EuroPacific when I went there back in 2014, I needed a bank that allowed me︁ to have multiple currencies and a brokerage account, at the time I was banking with︂ UBS and they didn't offer any of those two things. EuroPac was the first bank︃ I tried to open an account with and it worked perfectly for years, the KYC︄ was pretty standard and you were only allowed to transfer money to another bank account︅ under your name, so no third party wire transfers, and if the OCIF had not︆ acted the way it did I would have carried on banking with EuroPac, and by︇ the way, I had to submit a CRS form as they reported those who had︈ a brokerage account.
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