PortoRico Banks, The Best, The good and the Ugly

Discussion in 'Business Discussion' started by james David, Sep 19, 2018.

  1. james David

    james David Building Trust Entrepreneur

    Dear All,
    Today one company offered us a bank in PortoRico called FACEBANK.PR
    Bank site look unprofessional. but they accept all around the world.

    What do you know about banking system there? have you heard about this bank?


    Regards
     
    Admin likes this.
  2. Milky Moon

    Milky Moon Offshore Research & Development. Business Angel

    They are legit. Main focus is on Venezuela, Argentinia and Uruguay. (South America)

    Look at the fees, they are not cheap. And they do have a working compliance department.
     
    Samuel Newman likes this.
  3. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    Can I ask why you would consider banking in an officially bankrupt country?
     
  4. james David

    james David Building Trust Entrepreneur

    this info based on which source?
     
    Admin likes this.
  5. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    See below links for some of my sources including the PROMESA oversight board website :(.

    Puerto Rico is BANKRUPT. Although Puerto Rico is prohibited from going through Chapter 9 of U.S Bankruptcy and has to go via PROMESA Act of 2016 to restructure their debt they are a 100% bankrupt territory of US. They cannot pay their debts or meet their obligations. Puerto Rico has been in a recession for 12 years and a fifth of the entire population have left Puerto Rico. Banks have also left the island and continue to do so.

    I simply asked why you would consider banking in Puerto Rico? It is good for others to know what is influencing your choice. thu&¤#


    Puerto Rico bankruptcy judge upholds oversight board powers over government | Reuters

    Puerto Rico declares bankruptcy at last

    The Financial Oversight and Management Board for Puerto Rico

    Puerto Rico Banking Exodus below:

    Terms of Service Violation
     
    Admin likes this.
  6. james David

    james David Building Trust Entrepreneur

    We dont another choices for Venezuelan people Sir. If you do, we will all ears.
     
  7. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    What is this now? That was not the topic of this thread. You now at a late stage introduce a new critically important fact that changes the whole topic of the original conversation.

    Why did you not mention "Venezuelan people" from day one? You thought this was not important or something? :rolleyes:.

    Start a new thread with a new title and perhaps someone will spot the subject line and will help you. thu&¤#