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Euro Pacific Bank - Personal Accounts?

I dont understand this big assumption by people that the banks will inevitably fail at some point in time... This bank has been around for a long time - would you feel more comfortable keeping your money on an EMI or something like TransferWise than at least a licensed bank??

With an EU EMI, I know exactly what control mechanisms are in place to ensure capital adequacy (they must maintain 100% reserve, and in good jurisdictions, this is checked at least quarterly) and I know where to turn in case I am unhappy with the services. There are clear and functional complaints procedures, including fairly reliable court systems to fall back on in case it goes that far.

What security do you have in EPB shuts down? How can you be sure that an island that struggles to keep electricity running and has large poverty problems bothers to supervise banks that service only non-residents?

I'd be careful about conflating the license EPB has with what people normally think of as a bank. EPB's license isn't like the one banks like Barclays, BNP, HSBC, and Deutsche Bank have. For one, they aren't licensed to take local customers. They also aren't subject to nearly the same level of control and supervision.

Neither a bank licensed under a regime such as EPB nor an EMI is ideal for storing large sums of money. But while I wouldn't even store pocket change in EPB, I am reasonably confident holding a few hundred in Transferwise, Revolut, and similar.
 
With an EU EMI, I know exactly what control mechanisms are in place to ensure capital adequacy (they must maintain 100% reserve, and in good jurisdictions, this is checked at least quarterly) and I know where to turn in case I am unhappy with the services. There are clear and functional complaints procedures, including fairly reliable court systems to fall back on in case it goes that far.

What security do you have in EPB shuts down? How can you be sure that an island that struggles to keep electricity running and has large poverty problems bothers to supervise banks that service only non-residents?

I'd be careful about conflating the license EPB has with what people normally think of as a bank. EPB's license isn't like the one banks like Barclays, BNP, HSBC, and Deutsche Bank have. For one, they aren't licensed to take local customers. They also aren't subject to nearly the same level of control and supervision.

Neither a bank licensed under a regime such as EPB nor an EMI is ideal for storing large sums of money. But while I wouldn't even store pocket change in EPB, I am reasonably confident holding a few hundred in Transferwise, Revolut, and similar.

Fair enough, I wasn't aware of the fact that these EU EMI's are under such strict and enforced regulations. But again, those concerns you raise with Euro pacific bank are also the same concerns you might raise with any other non-major bank in any of these offshore jurisdictions, correct? I mean many of them rely on non-local clients and are located in poorer regions of the world; there's really no safety with any banks - but at least Euro pacific bank seems to be somewhat well reviewed
 
Fair enough, I wasn't aware of the fact that these EU EMI's are under such strict and enforced regulations. But again, those concerns you raise with Euro pacific bank are also the same concerns you might raise with any other non-major bank in any of these offshore jurisdictions, correct? I mean many of them rely on non-local clients and are located in poorer regions of the world; there's really no safety with any banks - but at least Euro pacific bank seems to be somewhat well reviewed

Correct, pretty much all these offshore banks, which are licensed under International Banking Act and such regimes, are garbage.
 
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Fair enough, I wasn't aware of the fact that these EU EMI's are under such strict and enforced regulations. But again, those concerns you raise with Euro pacific bank are also the same concerns you might raise with any other non-major bank in any of these offshore jurisdictions, correct? I mean many of them rely on non-local clients and are located in poorer regions of the world; there's really no safety with any banks - but at least Euro pacific bank seems to be somewhat well reviewed

Yes it’s better to use EPB as transit account for non crs, but I suggest you to put your saving in another bank more reliable.
 
would you feel more comfortable keeping your money on an EMI or something like TransferWise than at least a licensed bank??

Yes in terms of Transferwise credabilty and safety compared to EPB. A license in a bankrupt banana republic like Puerto Rico is worth absolutely nothing....less than a Comoros license.
 
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...A license in a bankrupt banana republic like Puerto Rico is worth absolutely nothing....less than a Comoros license.

How you'd like yours cooked? Medium Rare (-), Medium (-), Charcoal Brick (x)

They've got an affiliate program, uncharacteristic for banks these days. It's the reason why so many service providers like EBP.
 
It's the reason why so many service providers like EBP.

Also a lot of CSP's send clients to EPB after they have been rejected by the first choice banks. EPB is where you go when you got no other choice....lol.