Erabanq.com Review please is it a good offshore bank?

Martin Everson

Martin Everson

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May 28, 2025
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Michael Arris said:
Michael Arris said:
. Another one also good erabanq(dot)com, bit more expensive but no CRS reporting, great privacy for individuals and offshore companies.
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Have you used erabanq? They are licensed as a small payment institution licensed in Czech Republic under name European Securepay Centre. s.r.o. I don't know much about Czech Republic but erabanq say they offer a 100,000 euro deposit protection scheme. Is any of this true?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
Erabanq.com is 8 months old (current registration since 20 December 2017), registered by Ivan Lorenc.
 
Internationaloff said:
Internationaloff said:
Sorry, where did you read it?
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Look on homepage near bottom or rotate main header. It says....

"National deposit protection scheme
Erabanq clients benefit from the Deposit Protection Scheme which gives them guaranteed insurance up to 100 000 EUR."

Whether it is private insurance or EU deposit protection they need to explain this.coo-:!y

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
I can not find informations besides the homepage, but I would be careful about a bank who has not existed more than a year.
 
Hello,

Our company (hereinafter referred to as "the Erabanq") has successfully fulfilled set of specific requirements of our regulator (the Czech National Bank, regulated under File No. 2017/168689/CNB/570 pursuant to Act No. 370/2017 Coll. Payment Services Act) and the relevant laws (in accordance with Act No. 21/1992 Coll. on Banks.) and therefore all the financial funds on the Erabanq accounts are insured up to EUR 100,000 per each of our client for the event of bankruptcy of the bank where a separate account(s) of the Erabanq is kept. In such event, each of our client shall receive indemnity from the Deposit Insurance Fund in the amount of funds registered/kept on the client's Erabanq account(s), up to EUR 100,000 per each client.

Please, notice that the Erabanq does not offer any loans or investment products like another financial institutions usually do, and therefore the financial funds of our clients are always kept on the separate bank accounts of the Erabanq in 100% of their amounts. As a bonus, the Erabanq successfully fulfilled the requirements and obtained the insurance by the Deposit Insurance Fund to meet and offer the high European standards of the financial protection of our clients.

For more info, please feel free to visit our official websites www.Erabanq.com
 
Hello,

Please, let us to provide more details and explanation of usage of the Erabanq Accounts below:

With the Erabanq Account you are able to accept incoming bank payments from all around the world, from any bank accounts of your business partners and/or customers or friends worldwide. With the Erabanq Account you are also able to send outgoing bank payments too of course, to any bank accounts of your business partners and/or customers worldwide.

Erabanq Account Format:
Your Erabanq Account has for example following account number ERABQ0123456789LPEUR (Not IBAN format, but Erabanq format).

How to receive/send a payment:
If your business partners and/or customers or friends wish to send you a payment, they can do so by sending the payment to official Erabanq's IBAN account to Czech Republic. Once, when the financial funds are received on the official Erabanq's IBAN account, then the funds will be automatically credited to your Erabanq Account ERABQ0123456789LPEUR. Then, at any time, you can log into your Erabanq Account via the online Erabanq e-Banking and see the incoming payments on your Erabanq Account, date and time when did you receive the payment, from who did you receive it, and you can send any outgoing payments from your Erabanq Account to your customers/friends to another banks/countries at any time.

Crypto-currencies (Bitcoins, exchanges etc):
Please, let us to inform you, that we do not support trading with any crypto-currencies like Bitcoin, Ethereum etc. In purpose of protection of interests of our clients (the individuals having the Erabanq Personal Account and the companies having the Erabanq Business Account) and in purpose to protect their privacy and safety, we do not support any incoming/outgoing payments between any crypto-exchanges/markets and the Erabanq. Thank you for your understanding.

For more info, please feel free to visit our official websites www.Erabanq.com
 
Some remarks:

1)
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Make sure you have your commercial website listed there so people know European Securepay Center, s.r.o. is trading under the name Erabanq.

2)
Deposit insurance - Czech National Bank
How bank deposits are insured in the Czech Republic - Czech National Bank
"The Deposit Insurance Fund protects deposits at all banks and credit unions in the Czech Republic."

You are listed under the "Payment institutions and electronic money institutions" (and not under "Banks and credit unions") and the former generally do not fall under the deposit guarantuee and this is also clearly stated by the CNB.

So I'm a bit puzzled with your statement regarding this. (maybe get a definitive answer from your lawyers at Law office SCHEJBAL&PARTNERS ?)

Thanks for posting here though!
 
Would like to know the answer to @Milky Moon question. thu&¤#

@Erabanq hopefully you have not confused Euro 100k (in total) coverage of your corporate account with 100k protection of individual clients. I touched on the subject of ensuring an EMI has funds held in the correct account type in below thread. You see not even in the UK is any FI held funds covered by deposit insurance. However your claiming yours is in the Czech Republic ns2.

LeuPay.EU - Review please is it a good offshore bank?

Is it a safeguarding account, trust or custodial account that holds clients funds firstly or just a normal segregated business account?🙁

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
Milky Moon said:
Milky Moon said:
Some remarks:

1)
login page)

Make sure you have your commercial website listed there so people know European Securepay Center, s.r.o. is trading under the name Erabanq.

2)
Deposit insurance - Czech National Bank
How bank deposits are insured in the Czech Republic - Czech National Bank
"The Deposit Insurance Fund protects deposits at all banks and credit unions in the Czech Republic."

You are listed under the "Payment institutions and electronic money institutions" (and not under "Banks and credit unions") and the former generally do not fall under the deposit guarantuee and this is also clearly stated by the CNB.

So I'm a bit puzzled with your statement regarding this. (maybe get a definitive answer from your lawyers at Law office SCHEJBAL&PARTNERS ?)

Thanks for posting here though!
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Hello Milky Moon and Martin Everson,

thank you for your message, it will be our please to answer your question:

As we have stated in our previous post before, the clients really are protected by the protection of the Deposit Insurance Fund for the event of bankruptcy of the bank where a separate accounts of the Erabanq are kept. The funds, which are held on the Erabanq Accounts are kept in separate bank accounts, and this insurance of these bank accounts exceeds the EUR 100,000 since these bank accounts have different insurance scheme in special regime in accordance with Act No. 21/1992 Coll. on Banks. Please, notice that the insurance of these bank accounts is exceeding the EUR 100,000 for the purpose to be able to provide the protection to all of the Erabanq clients separately. The insurance for an Erabanq client is then max. only EUR 100,000 per each client, which is a limit based on the regulations of the Deposit Insurance Scheme. Separated bank accounts of Erabanq are insured by higher limits in this purpose to achieve such protection for our Erabanq clients.

For more info, please feel free to visit our official websites www.Erabanq.com
 
Martin Everson said:
Martin Everson said:
Would like to know the answer to @Milky Moon question. thu&¤#

@Erabanq hopefully you have not confused Euro 100k (in total) coverage of your corporate account with 100k protection of individual clients. I touched on the subject of ensuring an EMI has funds held in the correct account type in below thread. You see not even in the UK is any FI held funds covered by deposit insurance. However your claiming yours is in the Czech Republic ns2.

LeuPay.EU - Review please is it a good offshore bank?

Is it a safeguarding account, trust or custodial account that holds clients funds firstly or just a normal segregated business account?🙁
Click to expand...
Click to expand...

Hello Martin Everson,

in Erabanq we do realize that not all of the payment institutions have fulfilled their obligations in accordance with the Act No. 370/2017 Coll. Payment Services Act and the Act No. 21/1992 Coll. on Banks. The law department is processing regular audits to make sure that the Erabanq is in accordance with all the regulations and required obligations.

Erabanq has secured its bank accounts to be insured by limits exceeding the EUR 100,000 (the last audit and reports were done in October 2018 and they are repeatedly done each 3 months according to the law) and therefore in the event of bankruptcy of the bank where the funds of the clients are kept each of our client shall receive indemnity from the Deposit Insurance Fund in the amount of funds registered/kept on the client's Erabanq account(s), up to EUR 100,000 per each client.

For more info, please feel free to visit our official websites www.Erabanq.com
 
Where is it insured? | EasyPage lists the institutions that are covered by the insurance.

For natural persons a TEMPORARY HIGH BALANCE can be insured (max 200K), but this is not possible for business. So I guess you need additional advice as your claim simply does not corresponds with the available evidence and public information that is available.
 
Erabanq said:
Erabanq said:
The funds, which are held on the Erabanq Accounts are kept in separate bank accounts, and this insurance of these bank accounts exceeds the EUR 100,000 since these bank accounts have different insurance scheme in special regime in accordance with Act No. 21/1992 Coll. on Banks.
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@Erabanq Maybe what you are trying to say is that under i.e article 41m or other in the Act No. 21/1992 Coll. on Banks - the third-party bank you use has the extra deposit insurance on your client funds account? If so please ask the bank to provide written confirmation and we can close this issue.

P.S You would be wise to remove this claim of deposit protection from your website until you can substantiate such a serious claim.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
@Erabanq Can I just confirm some info about your "country info" list text file on your website.

1. Does the "Transfers Allowed" column mean as it states that transfers from/to that country are allowed?

2. Is the "Account Ownership Allowed" column mean you allow companies from that country to open accounts with you or just natural persons?

If you offer deposit protection of up to 100k and allow classic offshore companies then you have a very good competitive edge.

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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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