Any review on Capital Security Bank Limited?

[lory]

I'm looking into Capital Security Bank Limit which also advertise on the forum.

Can we trust this bank and are they a real bank or a EMI, your thoughts please?

 

[Martin Everson]

This Cook Island bank been around forever. They seem transparent with published financials and showing of management. Compare that to banks like EPB and its a much more transparent bank.

You can trust them they are a real legit bank that I remember from back in the day.

 

[CaptK]

They take forever to get back to you. Thought I would give them a go 3 months ago and have not heard from them since after supplying all the documentation.

 

[Martin Everson]

They take forever to get back to you.

Speak to them directly. They are member in the Mentor Group

https://www.offshorecorptalk.com/threads/capital-security-bank-limited.30440/

 

[lory]

Thank you for the good news and reply. I will try to contact them directly and in the mentor group

 

[nobel]

Oh! The bank is very expensive, EUR account -1,25% interest ( EPB 0% ), Monthly Administration Fee: $50 ( EPB $5 ),
Maintenance Fees/ Trading account: 0,35% ( EPB 0% ), Common Reporting Standard (CRS)=YES ( EPB=NO )

 

[lory]

okay, that's good information. Now beside the costs EPB has not a good reputation, I have seen many discussion on the public forums and also inside the mentor group about Euro Pacific Bank.

How long have you been using EPB? They are very restrictive and require lots and lots of documents as I read, how is that with CSB ?

 

[nobel]

okay, that's good information. Now beside the costs EPB has not a good reputation, I have seen many discussion on the public forums and also inside the mentor group about Euro Pacific Bank.

How long have you been using EPB? They are very restrictive and require lots and lots of documents as I read, how is that with CSB ?

I have only a account with the EPB (4 years), few documents and fast. EPB it´s safe i think and the fee with CSB is to much, -1,25% interest it´s heavy.

 

[lory]

EPB request a lot of documents once you start getting larger amounts and use the account frequently. They also have stupid forms to be completed, signed and send to them by courier I read?!

I don't want to risk my new money... sadly I have already gambled too much in my live. I need something stable and trustworthy and what I read on this forum is not doing better for them.

 

[nobel]

You have to send some documents in the original, but I do this with a normal airmail letter (1€-5€) without a courier. Cheaper and quick too.
CSB is defensively too expensive for me.

 

[Martin Everson]

EPB it´s safe i think and the fee with CSB is to much

EPB is safe you think?

Can you show me EPB's financials for you to make this claim? Can you also at least tell me who the management of EPB are?

CSB publish both of these on their website at least and don't hide them. I find it interesting however that EPB does not pass on ECB negative interest rates (-0.5%) meaning they are absorbing these loses. I definitely would like to see EPB's financial statements .

 

[tacokai]

I want to contact CSB Monday as something of the first to see how good this bank is and how many problems I will get to open an account looking at documents and information I need to provide.

 

[nobel]

I want to contact CSB Monday as something of the first to see how good this bank is and how many problems I will get to open an account looking at documents and information I need to provide.

and you wanna pay the insane fees and -1,25% interest ?

 

[Martin Everson]

Oh! The bank is very expensive, EUR account -1,25% interest ( EPB 0% ),

Well EPB does pass on the ECB's negative interest rate on Euro accounts for balances over 100k. It charges -0.60%.

https://europacbank.com/products/bank-accounts/fees-and-charges/

 

[nobel]

Well EPB does pass on the ECB's negative interest rate on Euro accounts for balances over 100k. It charges -0.60%.

https://europacbank.com/products/bank-accounts/fees-and-charges/

Yes, -0,60% it´s fair, but -1,25% not, and i don´t have over 100K, i have all money in shares and the Maintenance Fees/Trading account is 0% too, CSB= 0,35% it´s not acceptable.

 

[Martin Everson]

Yes, -0,60% it´s fair, but -1,25% not, and i don´t have over 100K, i have all money in shares and the Maintenance Fees/Trading account is 0% too, CSB= 0,35% it´s not acceptable.

Fair enough I suppose. But you never answered my question below:

Can you show me EPB's financials for you to make this claim? Can you also at least tell me who the management of EPB are?

Not answering the above tells me all I need to know about your logic sadly i.e your not willing to pay a -1.25% negative interest charge as your describe it as "insane". Yet you are happy to put your money in a bank like EPB where you don't even know the financials or management. That's true insanity in the purest form unfortunately .

 

[Taylor]

Ca

I'm looking into Capital Security Bank Limit which also advertise on the forum.

Can we trust this bank and are they a real bank or a EMI, your thoughts please

CSB is a trustworthy legit bank. I bank with them since the beginning of 2019 with no problems. The paperwork when opening accounts, depositing currency & withdrawing is a bit of a time comauming pain compared to the ease of most weatern world banks & apps. But easy enough & far safer. They don't fudge their books and gamble all there depositors funds on derivatives.
They charge around $50usd a month fees but you can cover those fees by having a term deposit account earning interest. You can store seceral currency in a normal deposit accounts. I know they use OCBC full bank in singapore to store funds. OCBC have a good teir one capital ratio and are not at all over leveraged in oil as many chinese banks where bank around 2014/15/16. So CSB is basically 100% liquid bank that uses a very safe bigger bank to store capital.
It is much easier to just call them up and deal with them directly over the phone. Any issue or need is sorted very quickly that way.
I sleep well at night knowing my currencies are not subject to any other countries bail in or bail in style laws. I am pretty sure tou need to deposit & maintain at least =>20k USD to open an account with CSB. Hope this info helps

 

[Fred]

Sent them 2019 back in the days my passport and never heard back from them. Wanted to use them for a Foundation and asked for pre approval. They confirmed and wanted me to sent my passport. the answer from @Taylor well always the same. new registered user with one message realted to a service provider or bank. big red flag for this bank!

 

[CaptK]

Ca

CSB is a trustworthy legit bank. I bank with them since the beginning of 2019 with no problems. The paperwork when opening accounts, depositing currency & withdrawing is a bit of a time comauming pain compared to the ease of most weatern world banks & apps. But easy enough & far safer. They don't fudge their books and gamble all there depositors funds on derivatives.
They charge around $50usd a month fees but you can cover those fees by having a term deposit account earning interest. You can store seceral currency in a normal deposit accounts. I know they use OCBC full bank in singapore to store funds. OCBC have a good teir one capital ratio and are not at all over leveraged in oil as many chinese banks where bank around 2014/15/16. So CSB is basically 100% liquid bank that uses a very safe bigger bank to store capital.
It is much easier to just call them up and deal with them directly over the phone. Any issue or need is sorted very quickly that way.
I sleep well at night knowing my currencies are not subject to any other countries bail in or bail in style laws. I am pretty sure tou need to deposit & maintain at least =>20k USD to open an account with CSB. Hope this info helps

Here we go..........
Another new member with a glowing report.

 

[tacokai]

They used to advertise on the forum last year, also they were mentor group gold member without any troubles visible to anyone around here. If you Google them there is nothing bad to report.