Question about sternbank - received spam mail from them!

[JohnLocke]

Today I was the lucky person that got a spam mail from sternbank.com !

Since there is a high demand on this forum for offshore bank accounts I thought I would give it a try and check them out.

The first thing I see is an SSL error the site does not work, if I google them only spammed hits.

Has anyone anything good to say about this bank if it is a bank?

 

[Samuel Newman]

Today I was the lucky person that got a spam mail from sternbank.com !

Since there is a high demand on this forum for offshore bank accounts I thought I would give it a try and check them out.

The first thing I see is an SSL error the site does not work, if I google them only spammed hits.

Has anyone anything good to say about this bank if it is a bank?

received it as well
I have made short due diligence on them few months ago
they hold financial license in Puerto (similar to Europacific) and in the same time they name themselves "US Bank", it looks suspicious, when bankers tell nonsense face-to-face

also, fees are too high and you need to pay in advance

I don't think that it is SCAM, but also does not cause confidence

 

[TurnedToRobot]

The website Stern Bank is also down for me. f**k'em it's not worth to spend a single minute at!

 

[Dubsize]

Hey,

I never heard of this bank before. But i just ran a small check on them and they actually have a connected SWIFT code and and a ABA routing number.
Having an ABA routing number is dedicated to USA F.I, so I am not 100% sure but I'd say that they can name themselves asU.S bank.
here is the link : ABA Routing Numbers

they name themselves "US Bank"

Anyone opened an account with them? @Samuel Newman can you share tariff ?

if serious that could be a alternative to EPB.

 

[Samuel Newman]

Hey,

Anyone opened an account with them? @Samuel Newman can you share tariff ?

if serious that could be a alternative to EPB.

Payoneer also has ABA routing, but they do not pretend to be US bank

3000-7500$ account opening fee (no refunds if denied)
0.5-3% for incoming wires
40-70$ for outgoing wires

can't find any fee schedule on the web, so it's info, that I've found in my emails with stern bank

 

[Dubsize]

Well, as far as I know Payoneer does not have its own ABA - they use their bank’s ABA. So it’s not exactly the same.
“Payoneer maintains a bulk of sub-accounts under its main account, which is held in an American bank”

Fees are pretty high... not very suitable to my biz

 

[JohnLocke]

Is the website up for any of you...? from here it is down too!

 

[mrau]

Is the website up for any of you...? from here it is down too!

It's up for me

 

[profitbbb]

Incoming and outgoing fees are ok but the setup fee is high and it is non refundable

 

[Dubsize]

Is the website up for any of you...? from here it is down too!

Up for me so far

 

[Martin Everson]

3000-7500$ account opening fee (no refunds if denied)

How much?

For an offshore bank in a bankrupt country. They could pay all their bills with just 4 failed account openings a month .

 

[TurnedToRobot]

Time has past and I wonder if anyone opened an account with them?

 

[Martin Everson]

Time has past and I wonder if anyone opened an account with them?

Do you mean has anyone risked $3000-$7500 non-refunable opening fee o open an account with a shi*ty Puerto Rico nothing bank?

 

[ovetum]

Hi everyone,

I got a very recent direct experience (days ago) with Stern Bank of Puerto Rico (a U.S. colony in the Caribbean Sea, since 1898).

To begin with, this bank is NOT fully insured with the U.S. FDIC, which is pretty disturbing, because it has NO supervision by the U.S. FED (the supervising watchdog).

Second of all, it's not a commercial bank (street bank).

Third of all, the fact that it seems to have an American Bankers Association (ABA) routing number doesn't make this bank a reliable one.

Therefore, my suggestion folks is RUN AWAY from Stern Bank.

 

[Mark Rucken]

I was approached by a person who works for Stern Bank. For some odd reason, I have a feeling this thing is not a scam, but their fees are crazy. They have lots of high-risk activities and for those, they charge additional fees. Also, like half of the world is on their red list and for those clients they also have higher fees. I counted that I would need like 10k to set up an account and make a few payments ... It is a skip for me.

 

[Martin Everson]

Interesting so who is the banks target customer?

Sounds to me like they are focused on high risk clients who can't bank anywhere else or clients that are desperate to avoid CRS at all costs and hence they are willing to pay. Same target audience as EMI erbanq I think.

 

[Bmw850]

Interesting so who is the banks target customer?

Sounds to me like they are focused on high risk clients who can't bank anywhere else or clients that are desperate to avoid CRS at all costs and hence they are willing to pay. Same target audience as EMI erbanq I think.

It's where is the profit

 

[Martin Everson]

It's where is the profit

lol..I suppose so to be honest. However once Puerto Rico starts exchanging account information eventually what are these expensive banks in Puerto Rico gonna do? They will all collapse just like the country has. There is simply no future in that business model of CRS avoidance and high risk banking.

 

[Mr Magoo]

Let alone the exchange of information. I think their correspondent banks will drop them before that, under US or EU pressure.

 

[Bmw850]

lol..I suppose so to be honest. However once Puerto Rico starts exchanging account information eventually what are these expensive banks in Puerto Rico gonna do? They will all collapse just like the country has. There is simply no future in that business model of CRS avoidance and high risk banking.

Then they will keep taking high risk customers, there is a big and juicy market for this kind of customers ( I m a bit one of them too)