Euro Pacific bank is a scam

[sonato]

I have been a customer of this bank for the last 8 years and I have never had problems with them before a little over 4 months ago where they suddenly closed / blocked my account. I have about $ 45,000 left in the bank and they say they will not release the money unless I send proof of all the money to them. I have tried to explain that all the money comes from crypto trading and therefore I do not have any documents on the transactions. I have asked them to send the money to my local bank, they have simply not responded! Stay away from that bank.

 

[exprtadvisrdev]

I think it's not... I mean, they are by far a bad bank but not a scam.

If is crypto trading you could try sending them the transactions with the exchanges and the trading you did (the beauty/horror of cryptos is that everything is traceable). Maybe that could help you.

 

[Marie Manila]

If I remember right, you are not allowed to deposit funds or income from crypto currencies to EPB according to terms and conditions.
At least before they moved to Puerto Rico, it was not allowed.

 

[CaptK]

Marie Manila said:
If I remember right, you are not allowed to deposit funds or income from crypto currencies to EPB according to terms and conditions.
At least before they moved to Puerto Rico, it was not allowed.
Click to expand...

https://europacbank.com/support/restricted-business-activities/
That's correct you are not allowed to deposit and use the funds on account to buy/sell Crypto. I told my client not to put his funds there because it was all from Crypto appreciation. He didn't listen he has 1.5M stuck and they have every right to hold it and can confiscate it under their T&C's.

Would not even put a used tissue there.

Last edited: Sep 18, 2020

 

[tacokai]

If you breaked their rules it can't bea scam but you can be a fool! Anyway, they should release your money ASAP and transfer it to an account in your name.

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[CaLViN]

It is correct.It is a very very very BAD bank but they are not scammers.

 

[tacokai]

No one has lost any money with them so far? What makes them 3 times BAD mind to share?

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[Chopper94]

tacokai said:
No one has lost any money with them so far? What makes them 3 times BAD mind to share?
Click to expand...

They randomly declined transfers in my case but never stole any money. They work but there are probably better alternatives

 

[Martin Everson]

Well breaking their terms and conditions does not help but at same time using EPB in general just makes problem worse. They will use your frozen $45,000 to pay staff...lol. You should be able to send them some proof of the transactions otherwise you should never have transferred money without this. I expect they will file a suspicious transaction report in meantime.

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

 

[rey skywalker]

i suugest you to forget t yours 45000 it will cost you more in lawyers try get them

 

[lrotter]

Like really, I love EPB - it's the legend of offshore industry... governments change, crypto comes and goes, pandemic is taking over the planet... but there still gonna be a battle if EPB is a scam or not 😛

 

[nobel]

I am an EPB customer. But I find it strange that EPB calls me at 10 a.m. (CET) where it is 4 a.m. in Puerto Rico and the bank it´s closed. Can you tell me where the consultants actually sit? It's suspect. ns3

 

[cristiansilva33as]

nobel said:
I am an EPB customer. But I find it strange that EPB calls me at 10 a.m. (CET) where it is 4 a.m. in Puerto Rico and the bank it´s closed. Can you tell me where the consultants actually sit? It's suspect. ns3
Click to expand...

I received a ticket on Tuesday asking to fill out a form to update my registration.
In the message they said that they tried to contact me twice without success, and that I should complete the form by the 30th of this month. But I have not received any contact.
I think that in the recent money laundering scandals with big banks, they will review all accounts.

Form: https://files.europacbank.com/docs/operating_agreement_update_corporate.pdf

 

[Martin Everson]

cristiansilva33as said:
I received a ticket on Tuesday asking to fill out a form to update my registration.
Click to expand...

The end is near with that questionnaire.i.e

"What is your reason for domiciling your company internationally, as opposed to in your home country?"

Are people going to be honest and say its to avoid tax and CRS rof/%.

nobel said:
Can you tell me where the consultants actually sit?
Click to expand...

Israel, Vietnam, Italy, Panama etc.

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[nobel]

Martin Everson said:
The end is near with that questionnaire.i.e

"What is your reason for domiciling your company internationally, as opposed to in your home country?"

Are people going to be honest and say its to avoid tax and CRS rof/%.



Israel, Vietnam, Italy, Panama etc.
Click to expand...

It´s true, the time he call me is strange, because the time in Puerto Rico was 4 a.m. Does the bank even exist? nai¤%

 

[Martin Everson]

nobel said:
It´s true, the time he call me is strange, because the time in Puerto Rico was 4 a.m. Does the bank even exist? nai¤%
Click to expand...

It exists in shell form but it's not a transparent bank in that ppl know nothing about what happens with their money or if its even there....lol. I have seen it all before how banks especially offshore banks without published audited financials can have missing funds i.e Standford International bank etc. Euro Pacific Bank could also just be sending screenshots to auditors like Wirecard bank....lol....wait where is Euro Pacific Banks audit report anyway? ca#"!

cristiansilva33as said:
I think that in the recent money laundering scandals with big banks, they will review all accounts.

Form: https://files.europacbank.com/docs/operating_agreement_update_corporate.pdf
Click to expand...

I am surprised they are not asking clients if they are compliant with tax and reporting of accounts in their home countries or place of operation. Or for clients to provide some proof they are tax compliant in countries they operate in. That tells you they are a tax avoidance bank and that tax avoidance is Euro Pacific Banks CORE business.

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

 

[Marie Manila]

The agents are located all over the world.
Have a look at their job offers: Careers - Euro Pacific Bank
The offer jobs "Worldwide".
So you can stay in your home country and work for a bank in Puerto Rico.

My agent was located in Netherlands, when I talked to him the first time. I asked him, where he is at the moment. 😉

 

[nobel]

Marie Manila said:
The agents are located all over the world.
Have a look at their job offers: Careers - Euro Pacific Bank
The offer jobs "Worldwide".
So you can stay in your home country and work for a bank in Puerto Rico.

My agent was located in Netherlands, when I talked to him the first time. I asked him, where he is at the moment. 😉
Click to expand...

Thanks, then it`s fine, EPB it`s a serious bank 😀

 

[Martin Everson]

nobel said:
Thanks, then it`s fine, EPB it`s a serious bank
Click to expand...

Serious bank with advertised serious salary of $2,000 a month...lol. Shout out to every Indian looking for a job....EPB is all yours.

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[clemens]

Martin Everson said:
Shout out to every Indian looking for a job....EPB is all yours.
Click to expand...

IT may be the reason for why the service is as it is 😀

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