I agree with you on the face of the evidence it looks sneaky and wrong. Whether it's "illegal" or not in Portugal I wouldn't know. There may be some compliance bulls**t aspect to their︀ behaviour. Compliance departments can come up with all sorts of issues that we can't think︁ of.
Euro Pacific bank is a scam
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As I said before. The terms of agreement between EPB and Novo is what you need to be asking about firstly. There is always two sides to a story and you have just heard one so far.
Agree. The behavior of Novo Banco to date has given enough room for serious questions to be raised regarding their approach. At this stage it is not for us to proof legality or otherwise,︀ it is about getting Novo Banco to provide some communication. If they remain silent and︁ we pussy foot around them so as not to upset them how does this help?︂ Any evidence to suggest that this complacency approach is going to expedite the process? We︃ have been patient to date and how exactly has that helped? By continuing to be︄ patient? FFS
Well you have to︀ remember that up until 22 February it was the Portuguese government that put the freeze︁ on.
Yes since then it has been Novo banco stopping us getting our money back.︂
Why they are not processing the wire transfers , we as customers, don't know.
But it seems that the Receiver , Qenta, etc are trying to resolve the issue. We︃ will have to see.
Yes since then it has been Novo banco stopping us getting our money back.︂
Why they are not processing the wire transfers , we as customers, don't know.
But it seems that the Receiver , Qenta, etc are trying to resolve the issue. We︃ will have to see.
Go to minute 37.30 to learn everything about what has happened and what to expect with EPB and the deposits.
https://www.youtube.com/live/b3ldPID38Ms?feature=share
https://www.youtube.com/live/b3ldPID38Ms?feature=share
Thanks for the link.
Let me highlight as well that an INCOMING payment from August 2022 also is stuck with Novo Bank that refused to wire back the transfer to our client. A transfer that never made it to our EP bank account. So Novo banco is blocking BOTH in and outgoing payments since June 2022
Let me highlight as well that an INCOMING payment from August 2022 also is stuck with Novo Bank that refused to wire back the transfer to our client. A transfer that never made it to our EP bank account. So Novo banco is blocking BOTH in and outgoing payments since June 2022
Thanks for posting this. Completely unacceptable conduct from Novo Bank. Expect futher court delays/postponements once their appointed legal team engages in technical 'legal speak' arguments. I would love to be wrong but the behavior to date suggestsI may just be right. Should we not start sharing thoughts on preparing plan B?
I saw this on FB. The English translation, although not 100%, does succeed in getting the message accross.
https://www.facebook.com/groups/755889906149982/permalink/762895535449419/
I saw this on FB. The English translation, although not 100%, does succeed in getting the message accross.
https://www.facebook.com/groups/755889906149982/permalink/762895535449419/
Question: Did ALL outgoing transfer requests go through Novo bank?
According to https://files.europacbank.com/docs/EPB_MT103.pdf Novo bank was the intermediary bank for CHF, EUR, GBP and PLN. These 4 currencies coincide with the “Order to release the Novo Freeze” doc from the Portuguese court Peter Schiff attached.
But for the 5th operational currency EP bank had (YEN), payments were through ANOTHER intermediary bank, Mizuho bank. Did any “YEN clients” actually get their money out? It would be reasonable to assume there was at least 1 client in Japan sending in YEN. This is key.
HOPEFULLY Peter Schiff can confirm this and the status of the emergency injunction︀ against Novo ASAP…. My bet is that Novo wants to have a signature from the︁ receiver before actually wiring out given someone has to pay the Receiver for his work︂ AND they have no incentive to speed up anything as they are earning interest rates.︃
According to https://files.europacbank.com/docs/EPB_MT103.pdf Novo bank was the intermediary bank for CHF, EUR, GBP and PLN. These 4 currencies coincide with the “Order to release the Novo Freeze” doc from the Portuguese court Peter Schiff attached.
But for the 5th operational currency EP bank had (YEN), payments were through ANOTHER intermediary bank, Mizuho bank. Did any “YEN clients” actually get their money out? It would be reasonable to assume there was at least 1 client in Japan sending in YEN. This is key.
HOPEFULLY Peter Schiff can confirm this and the status of the emergency injunction︀ against Novo ASAP…. My bet is that Novo wants to have a signature from the︁ receiver before actually wiring out given someone has to pay the Receiver for his work︂ AND they have no incentive to speed up anything as they are earning interest rates.︃
According to the latest update Liquidation Update: Action Required - Euro Pacific Bank we may receive our money by the end of this month. Finger crossed.
Mmmm I wouldn't be so optimistic yet. I wrote to them an email and forced them for some confirmation regarding the Novo Banco case and an hour after I got this
"Please note that we are following up with our Management team regarding your inquiry will advise you accordingly. "
they wrote the note on the website so Im not THAT sure if they got any new news we havent heard about yet or︀ they just decided to shine a little optimism over this case.
"Please note that we are following up with our Management team regarding your inquiry will advise you accordingly. "
they wrote the note on the website so Im not THAT sure if they got any new news we havent heard about yet or︀ they just decided to shine a little optimism over this case.
At least we can soon celebrate our one year anniversary since the story began.
As an opt-out client, I made a bank transfer of the full balance via online banking on Oct 14, 2022.
When I checked the entry "Pending Authorization" today, this bank transfer had disappeared.
As an opt-out client, I made a bank transfer of the full balance via online banking on Oct 14, 2022.
When I checked the entry "Pending Authorization" today, this bank transfer had disappeared.
I don't remember I had something before in "Pending Authorization". Anyway, most important I think is what you see in your balance. My money hasn't gone yet. I think we can be patient few days.
The good news I promised was that the Portugese government removed its freeze on the bank's accounts at Novo Bank. That happened. The problem now is that Novo bank is dragging its feet on sending out the wires. Euro Pacific bank did its part in that it has submitted all the wire requests. Supposedly all the money is there. But customers can't get it until Novo decides to sends it to them.
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