Hopefully EPB's slow payment processing will work in your favor. Hopefully they have at least taken action to freeze the account immediately awaiting further communication from you.
I have never heard of Sinclair Upton Capital Management. Is it this Chinese looking company below? How well do you know the company?
Could be just a clever conduit to steal funds
https://www.sucm.com/contact-us
Novo Banco is majority owned by Lone Star Funds (PE outfit) who have quite a high risk appetite so they may continue to run with EPB for some time. I find it fascinating and hilarious in equal measure that EPB's USD correspondent bank is the New York Fed, surely that's like the headmaster making the naughtiest kid in school do homework in his office. They must be under surveillance and audit...I've used EPB for a while (USD and EUR but never huge amounts) and can confirm they're still breathing, although USD wire delays in particularly are beyond painful.
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They have direct Fedwire clearing unless they are being extra cautious with those wires. Not being funny but how many shell company wires can the Fed allow through from one little offshore bank. The bank is purely being used for tax evasion and other criminal activity as has been discovered.
.They do indeed have direct Fedwire clearing but they're now obligated to be forensically anal about every single wire (even the tiddlers) hence the delays. Ironically, their KYC and DD in the last 6 months is now one of the strictest I have ever witnessed, it's bananas.You hit nail on head. US Government can watch you for literally years before they pull trigger. They do this quite often in RICO operation...no pun intended
Why would there be delays with US wire's?
P.S Peter walking out of his own living room and hiding during a zoom call with 60 minutes still makes me laugh. Me personally I would have just closed the laptop
0 days,because you cannot do an USD wire transfer anymoreHow long are USD wires taking now?
.| Clients activated on/after May 1, 2021 | Personal | Corporate |
|---|---|---|
| Application fee1 | FREE | $150.00 |
| Activation fee | FREE | FREE |
| Online banking | FREE | FREE |
| Minimum initial deposit2 | $1,000.00 | $1,000.00 |
| Monthly maintenance | $5.00 | $40.00 |
| Monthly maintenance for each additional currency account | $1.00 | $1.00 |
But EPB is very cheap, i remember your prefere the Capitalsecuritybank, but this bank have crazy fees like monthly maintenance $50 (personal), custody fee 0,38% (EPB 0%)Interesting change in their pricing with high minimum deposit that's blocked. Smells like a desperate cash grab
1Account application fee is not refundable.
Clients activated on/after May 1, 2021 Personal Corporate Application fee1 FREE $150.00 Activation fee FREE FREE Online banking FREE FREE Minimum initial deposit2 $1,000.00 $1,000.00 Monthly maintenance $5.00 $40.00 Monthly maintenance for each additional currency account $1.00 $1.00
2The minimum initial deposit will be withheld from your available balance upon arrival and will be used for the first year’s worth of monthly maintenance fees. If your account is closed within the first year, the first year’s worth of maintenance fees will not be refundable.
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. EPB also totally removed the USD wire instructions on their own website now also.Non-CRS is also EPB and CSB reports data, so your money is more secret by EPBNothing cheap about EPB but if your benchmark is CSB then ok fair enough. Anything is better than EPB
Seems the Fed has terminated EPB's account. I can no longer find EPB's routing number listed on the Fed website of participants
Anybody know whats going on?
P.S Has their years of banking shell companies and tax evaders finally caught up with them? How come Novo Banco in Portugal still offers them correspondence banking service?
I wonder how many other countries have access to their data?
Nothing cheap about EPB but if your benchmark is CSB then ok fair enough. Anything is better than EPB
Seems the Fed has terminated EPB's account. I can no longer find EPB's routing number listed on the Fed website of participants
Anybody know whats going on?
P.S Has their years of banking shell companies and tax evaders finally caught up with them? How come Novo Banco in Portugal still offers them correspondence banking service?
