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Euro Pacific bank is a scam
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Hi
At least they answered but passed you on to the Central Bank. Did you contact the Central Bank?
I contacted the Head of OCIF and the Receiver but got no reply.
I think if the freeze continues then I think customers have to consider their own legal action. Perhaps we can collectively use the same lawyer to spread the cost.
At the moment it seems not many customers have found this forum.
At least they answered but passed you on to the Central Bank. Did you contact the Central Bank?
I contacted the Head of OCIF and the Receiver but got no reply.
I think if the freeze continues then I think customers have to consider their own legal action. Perhaps we can collectively use the same lawyer to spread the cost.
At the moment it seems not many customers have found this forum.
Emailed directly and raised a complaint last week online: Formulário de nova reclamação | Portal do Cliente Bancario
still waiting for a reply... or at least an︀ acknowledgement.
IMO the responsibility for this falls onto Europacific Bank, since they selected the correspodant︁ bank....
still waiting for a reply... or at least an︀ acknowledgement.
IMO the responsibility for this falls onto Europacific Bank, since they selected the correspodant︁ bank....
Yes you're right Euro Pacific Bank which is now managed by the Receiver should be working hard to ensure customers receive their funds.
As Peter Schiff has said above , a Portugese lawyer has been hired to help resolve the problem. But so far no apparent progress.
As Peter Schiff has said above , a Portugese lawyer has been hired to help resolve the problem. But so far no apparent progress.
Then it's maybe time to write to EPB and CC most of us in this group? My email just in case it is decided so [email protected]
The more emails, the merrier...
The more emails, the merrier...
I have written a number of times to EPB . Unfortunately they just reply with the usual bland statements they post on the EPB website. They claim not to know anything about the discussions between the Receiver and the correspondent bank. I am sure they do know more but they don't say anything useful to customers.
Unfortunately EPB is now managed by the Receiver. He seems to have every incentive to keep the liquidation process going on forever. EPB Customer Services said the Receiver would start replying to customer emails - that was back in January. Since then he hasn't replied to any of my emails. I don't know if he has replied to anyone else on here?
Hi there,
I' m from France and I am so glad to realize that I m not the only one in the same situation. I have 150k in EPB, I tried to do a wire transfer back in september to move my money but it's been 8 months that the wire is still waiting for authorization... 8 months !! It's enough. I called them each week last year and always the same answer: its' not in our hands anymore blabla... Then i stopped calling. Should we not hire an advocate all together to put them under pressure and do a collective action? how much time︀ will it still last ?
sorry i tried to read everythging but︆ i didn't see your comment... at least we could get a quote from a lawyer︇ in porto rico and see how much he would charge and if there are chances︈ that it could be a success to make them move... ?
I' m from France and I am so glad to realize that I m not the only one in the same situation. I have 150k in EPB, I tried to do a wire transfer back in september to move my money but it's been 8 months that the wire is still waiting for authorization... 8 months !! It's enough. I called them each week last year and always the same answer: its' not in our hands anymore blabla... Then i stopped calling. Should we not hire an advocate all together to put them under pressure and do a collective action? how much time︀ will it still last ?
sorry i tried to read everythging but︆ i didn't see your comment... at least we could get a quote from a lawyer︇ in porto rico and see how much he would charge and if there are chances︈ that it could be a success to make them move... ?
Hi Seize︄
Sorry to hear that you are in the same position as us.
The obstacle appears︅ to be in Portugal where the correspondent bank is. As stated EPB and Peter Schiff︆ have hired a lawyer in Portugal on behalf of customers to try and resolve the︇ problem at the correspondent bank. So far we have not heard anything coming from that︈ action. We live in hope.
Sorry to hear that you are in the same position as us.
The obstacle appears︅ to be in Portugal where the correspondent bank is. As stated EPB and Peter Schiff︆ have hired a lawyer in Portugal on behalf of customers to try and resolve the︇ problem at the correspondent bank. So far we have not heard anything coming from that︈ action. We live in hope.
hi
so it's great to hear that something has been done in portugal but should we not do something as well in porto rico to set these 2 banks in front of each︀ other and see who is right or wrong and what's going on ? because it's︁ clear that they play on the fact that EPB is an off shore bank and︂ that people can only complain through internet and from far countries sometimes... Easy to resist...︃ but seriously imagine that a regular us, uk or european bank was holding the funds︄ of customers during almost one year... Everybody would be downstairs the HQs asking for their︅ money. But we can not do this because it's offshore, and they know it, so︆ it's abuse of power. How is it possible to hold funds for so long ?︇ I'm not sure if i will see this money again and fortunately i don't really︈ need it to live but more i could have placed this money and get at︉ least 5% interests... But they hold it so i can't do anything from it. To︊ me the harm is triple: 1 not having access to the funds, 2 no possible︋ interests on the amount of money , and 3 loss of money because of this︌ massive inflation that we have right now ! So it's not freezing the accounts it's︍ making us losing the money, which is even worse....
Don't we have other solutions than︎ waiting ?
Unfortunately i didn't study law but I know one thing: we let them️ hold our money during one year so if we still keep on waiting and doing nothing, next year everybody will be in the same situation...
so it's great to hear that something has been done in portugal but should we not do something as well in porto rico to set these 2 banks in front of each︀ other and see who is right or wrong and what's going on ? because it's︁ clear that they play on the fact that EPB is an off shore bank and︂ that people can only complain through internet and from far countries sometimes... Easy to resist...︃ but seriously imagine that a regular us, uk or european bank was holding the funds︄ of customers during almost one year... Everybody would be downstairs the HQs asking for their︅ money. But we can not do this because it's offshore, and they know it, so︆ it's abuse of power. How is it possible to hold funds for so long ?︇ I'm not sure if i will see this money again and fortunately i don't really︈ need it to live but more i could have placed this money and get at︉ least 5% interests... But they hold it so i can't do anything from it. To︊ me the harm is triple: 1 not having access to the funds, 2 no possible︋ interests on the amount of money , and 3 loss of money because of this︌ massive inflation that we have right now ! So it's not freezing the accounts it's︍ making us losing the money, which is even worse....
Don't we have other solutions than︎ waiting ?
Unfortunately i didn't study law but I know one thing: we let them️ hold our money during one year so if we still keep on waiting and doing nothing, next year everybody will be in the same situation...
Did you try complaining to the banking regulator in Portugal? Formulário de︌ nova reclamação | Portal do Cliente Bancario
The EU has cross border complaints caleld FIN-NET︍
The EU has cross border complaints caleld FIN-NET︍
No unfortunately to me I was sticking to the EPB's updates I was aware that the bank was doing a migration towards qenta (which is in houston if i'm not wrong?) So I'm not even sure why Portugal is impled in this stuff... But maybe i should read the 27 pages to understand better. I just found this forum this morning, so i read really quickly...
But I m sure some of you did ? To me we have to do something collective...
But I m sure some of you did ? To me we have to do something collective...
Hi
If we took legal action in Puerto Rico I am not︌ sure who we would be taking the action against. Nobody in Puerto Rico is stopping︍ us get our money. The money has left Puerto Rico is my legal understanding -︎ but I am not sure - I don't know much about law either.
That's why️ EPB/Peter Schiff hired a Portuguese lawyer. That's where the problem appears to be.
My understanding all the︀ money has to go through the correspondent bank in Portugal, even for opt-in Qenta clients.︁
If we took legal action in Puerto Rico I am not︌ sure who we would be taking the action against. Nobody in Puerto Rico is stopping︍ us get our money. The money has left Puerto Rico is my legal understanding -︎ but I am not sure - I don't know much about law either.
That's why️ EPB/Peter Schiff hired a Portuguese lawyer. That's where the problem appears to be.
My understanding all the︀ money has to go through the correspondent bank in Portugal, even for opt-in Qenta clients.︁
I suggest that you read all the comments on this thread to understand the whole situation as︀ you are obviously not well informed, but EPB should be providing an update this week.︁
Forget about complaining to Novo Bank or anyone in Europe, that's a waste of time,︂ if this situation isn't solved in the very near future the only option left is︃ getting on a plane and flying to Puerto Rico to see if the Receiver will︄ tell you what's going on.
I have my option but it's just my opinion, no︅ one wins anything by returning the funds, they are making money, customers are irrelevant, money︆ talks! (when I say "they" I mean EPB, the appointed Receiver, and Novo Bank.)
Forget about complaining to Novo Bank or anyone in Europe, that's a waste of time,︂ if this situation isn't solved in the very near future the only option left is︃ getting on a plane and flying to Puerto Rico to see if the Receiver will︄ tell you what's going on.
I have my option but it's just my opinion, no︅ one wins anything by returning the funds, they are making money, customers are irrelevant, money︆ talks! (when I say "they" I mean EPB, the appointed Receiver, and Novo Bank.)
I will read for sure in the next days...︂
If i follow what you say : epb, receiver and novo bank has nothing to︃ win by returning the funds then it means all 3 are guilty so we have︄ focus on the original one in mean EPB. From what i understood the advocate in︅ portugal lead to nothing but we didn't try in puerto rico (if i'm not wrong).︆ honestly puerto rico is only 8h planes from france so it's not a pb to︇ go there, but they won't receive/answer me so i don't want to go there for︈ nothing... I ve called them several times and always times and always the same answer...︉ But how long will they still answer the phone . At some point the guys︊ on the phone won't even get paid to answer so we will be able to︋ talk to nobody... We have to do sometging quickly if not, yes : goodbye money.︌ I've sweated to have it s**t, and I'm sure I'm not the only one.
Are we going to let them take our money without having trying everything?
If i follow what you say : epb, receiver and novo bank has nothing to︃ win by returning the funds then it means all 3 are guilty so we have︄ focus on the original one in mean EPB. From what i understood the advocate in︅ portugal lead to nothing but we didn't try in puerto rico (if i'm not wrong).︆ honestly puerto rico is only 8h planes from france so it's not a pb to︇ go there, but they won't receive/answer me so i don't want to go there for︈ nothing... I ve called them several times and always times and always the same answer...︉ But how long will they still answer the phone . At some point the guys︊ on the phone won't even get paid to answer so we will be able to︋ talk to nobody... We have to do sometging quickly if not, yes : goodbye money.︌ I've sweated to have it s**t, and I'm sure I'm not the only one.
Are we going to let them take our money without having trying everything?
If you don't think︆ the Receiver will see you in person then you only have two options, keep on︇ waiting until EPB says something, or get a lawyer in Puerto Rico to represent you︈ to try to get some answers from the Receiver, but most likely they (the Receiver)︉ will end up telling your lawyer that Portugal/Novo bank isn't releasing the funds because of︊ A, B, and C, so the question is "how long can they hold on to︋ the funds by alleging A, B, and C?" I don't know, I don't know much︌ about International Banking Laws.
I wish EPB would have told its customers that they were︍ going to use a correspondent bank in the European Union, I wish they would have︎ disclosed that their funds were going to be transferred to Portugal, a Socialist/Communist country that️ strongly dislikes all offshore jurisdictions, had customers known this information no one would have transferred their funds to EPB in the first place, now who is going to get the meat from the lion's mouth? Good luck with that one!
Right now just wait to see if there is an update this week, maybe there is still the possibility of a miracle.
I wish EPB would have told its customers that they were︍ going to use a correspondent bank in the European Union, I wish they would have︎ disclosed that their funds were going to be transferred to Portugal, a Socialist/Communist country that️ strongly dislikes all offshore jurisdictions, had customers known this information no one would have transferred their funds to EPB in the first place, now who is going to get the meat from the lion's mouth? Good luck with that one!
Right now just wait to see if there is an update this week, maybe there is still the possibility of a miracle.
I dont believe anything︆ can be done against EPB at this point since it is in liquidation, you would︇ be wasting your time and money. Option for legal recourse then would be OCIF and︈ reciever since they agreed to return customer funds as part of the settlement to close︉ EPB. They would be in breach of this settlement and should be providing updates and︊ putting pressure on NOVO BANK to release customer funds.
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