Puerto Rico International banks in liquidation

[linusAG]

I noticed these are many Puerto Rico 'banks' in liquidation

1. AMERICAN INTERNATIONAL BANK LLC
https://www.americanintlbank.com/

2. BLUE OCEAN INTERNATIONAL BANK LLC
https://blueocean.com.pr/

3. BOSCO IX OVERSEAS, LLC

4. Euro Pacific Intl. Bank, Inc.
https://europacbank.com/

5. FIRST FINANCE INTERNATIONAL BANK, INC.
https://www.firstfinancebank.com/

6. INTERNATIONAL UNION BANK LLC
https://iubank.com/

7. NEXT BANK INTERNATIONAL, INC.
https://www.next.bank/

8. PR ASSET PORTFOLIO 2013-1 INTERNATIONAL, LLC

9. STANDARD INTERNATIONAL BANK, LLC
https://standardintbank.com/

Source:
https://www.ocif.pr.gov/

 

[Martin Everson]

Hopefully nobody here used any of those other banks [we sadly know about EPB already]

 

[SCHLOSSFINANZ]

PR is cleaning up massively the times when every Tom and Harry coudl get a licence are luckily over

 

[Sols]

Puerto Rico could have made a pretty strong and diverse banking and financial services sector for itself if they had just done a better job at supervising. It's going to be hard to rebuild trust now that such a disproportionate amount of banks there have ended up in liquidation.

 

[Houdini]

Puerto Rico is a shithole as discussed in hundred of threads before, however, so many banks failed doing business is impressive and scary and the same time.

 

[linusAG]

Some other 'International Banking Entity' in liquidation

​

10. BANCREDITO INTERNATIONAL BANK & TRUST CORPORATION

big ML
https://www.fincen.gov/news/news-re...oney-penalty-against-bancredito-international

11. NODUS INTERNATIONAL BANK, INC.
https://nodusbank.com/

12. TBB INTERNATIONAL BANK CORP.
https://www.tbbinternationalbank.com/en/

 

[Alexmorgan]

I have an account with Zenus is it gonna have the same issue?

 

[Houdini]

I have an account with Zenus is it gonna have the same issue?

If I were you, I wouldn’t keep a large fortune in any Puerto Rico bank right now. They all seem to be collapsing one by one. It could just be a natural shakeout, like in business, where only the strongest and most reputable survive.

But if not, it would be a pretty big downfall to have your entire fortune in one of those banks.

 

[Alexmorgan]

Sound like my Puerto Rican bank is having a problem 2

My self payment got bounce back to my company account and triggered a compliance check

 

[linusAG]

Sound like my Puerto Rican bank is having a problem 2

My self payment got bounce back to my company account and triggered a compliance check

Which bank are you using?

 

[Alexmorgan]

Which bank are you using?

Zenus

 

[dillywalsh]

I was actually considering Zenus before heard kf this, still tempted but maybe only small deposit. I mainly just can't stand trying to deal with domestic U.S. banks, even as a U.S. expat. And I don't want to rely purely on fintechs like Wise

 

[plotoffshore]

No, it's important to have diversity in your banking portfolio. Relying solely on a Wise, Revolut, or any other EMI account can be really risky, especially if you only have one of them.

As for a bank in Puerto Rico, that’s completely out of the question for me, especially after seeing the list of bankrupt banks posted in this thread.

Puerto Rico is finished as a financial destination for banks.

 

[linusAG]

I was actually considering Zenus before heard kf this, still tempted but maybe only small deposit. I mainly just can't stand trying to deal with domestic U.S. banks, even as a U.S. expat. And I don't want to rely purely on fintechs like Wise

From my experience with Zenus, there are no issues so far, and they also have a full US dollar correspondent bank rather than relying on the payment company's FFC.