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caye bank international belize

nickyboy2018

New member
Hi all

anybody else using Caye bank international in Belize?

As within the last week they have suspended their corresponding bank relationship with crown agents uk.

does anybody else know anything?

They reckon they will have new corresponding banks by mid dec. After pressing their customer support it was then revealed that this would be at the earliest.
Is it connected to the current problems with Atlantic bank international, also using Crowns agents bank. Has crowns agents pulled out of Belize?
 

blizz

Mentor Group Gold
So they are running into the same trouble as many of the other small banks did!!
 

MrTony

Entrepreneur
I have asked about opening EUR account at Caye. They wrote the same - about Crown.
They delete all Wiring Instructions for the site. But as I remember for EURO Wiring Instructions - also was only Crown.

I have researched other 3 banks at Belize: Atlantic International Bank Limited, Heritage International Bank & Trust Limited and Belize Bank International. All of them use only Crown as Intermediary Bank.

Atlantic International Bank Limited has the second correspondent bank:

BANCREDITO INTERNATIONAL BANK, CORPORATION
270 MUNOZ RIVERA AVE, 5TH FLOOR, SUITE 504
SAN JUAN, PUERTO RICO, 00918
ABA NO. 021-502-231

But the Intermediary Bank - is the same - Crown? I don't know - can we use it on practice (BANCREDITO).

So, as result - there are no available banks at Belzie at all. You can't withdraw, not upload your account at any Belize bank. Any thoughts, guys?
 

nickyboy2018

New member
Hi Mr Tony. Yes i was curious as to whether it was a direct policy of Crown Agent's to withdraw or whether it's a specific policy of Caye. If the former then yes all the banks in Belize would be affected and possibly a lot of other Caribbean banks. A simple google search of Crown's agent corresponding bank/ Intermediary and a lot of banks use Crown agent's in that region.

Out of curiosity where did you find the details pertaining to Heritage? As I have looked hard and fast and couldn't find their corresponding banks information. only that it was to be found inside the 'welcome pack' after the account was opened.
 
The same happened with Euro Pacific Bank, see the statement sent by the EPB.


"Crown Agents Bank is changing their business model to focus exclusively on the domestic banking market and will no longer be maintaining correspondent accounts for non-domestic banks.

As we previously announced, one of Euro Pacific Bank’s major goals has been to reduce our reliance on other banking institutions, as the banking industry has seen a tremendous amount of consolidation over the years, resulting in a shortage of viable USD correspondent banking options.

As a result, in early 2017 we moved the Bank to Puerto Rico, helping to protect ourselves and our clients from some of the instability we are seeing globally in the correspondent banking space, among others.

Although Crown Agents Bank’s decision has come sooner than expected, we are pleased to be in a position to offer the US Federal Reserve instructions as our primary payment route for incoming USD payments."
 
According to the statement with EPB transactions involving crown agents will only stop working as of December 31.
nickyboy2018, what was the statement sent by the Caye? Are crown transactions no longer working from today?

You can see the EPB release here
USD Change Notice
 

nickyboy2018

New member
They said that the wire service incoming/outgoing had stopped about a week ago and they asked me did i receive the email with regards to this. (which i didn't). Fortunately i was calling about an incoming wire due next week which luckily had been delayed by 3 weeks. Had it gone through on the due date It would now be stuck and inaccessible. Close call. Hopefully they will sort out a new corresponding bank soon. I will say this about Caye bank their Customer service has always been excellent and better than most banks i have worked with. Apart from the recent absent email pertaining to the loss of corresponding banking!!! lol
 

MrTony

Entrepreneur
Out of curiosity where did you find the details pertaining to Heritage? As I have looked hard and fast and couldn't find their corresponding banks information. only that it was to be found inside the 'welcome pack' after the account was opened.
My bad. There is no such information in public sources about Heritage. But I think Crow is corresponding for all banks at Belize. Do you think otherwise?
 

nickyboy2018

New member
Hi Mr Tony. Yeah. I contacted heritage the other day and they confirmed they are using Crown as their corresponding bank. My email was from someone high up who was rather confident in their relationship. So based upon this it would seem that those banks who are losing this relationship could possibly have other difficulties. Crown does seem to be supplying alot of banks in that region, not just Belize.
 

MrTony

Entrepreneur
Crown was the largest correspondent bank for offshore banks like Belize, Mauritius etc.
 

Myotra

New member
I sent them a question regarding the wire transfers perspective, but they did not answer yet. If there is any news, please let know.
 

mrau

Active Member

PurpleDan

New member
I tried sending money through their new correspondent bank... 12 days later, I have no money and I have kicked off a recall of the wire through my US bank (from where I sent it).

It's a freaking nightmare. Just a nightmare.
 
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