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Euro Pacific Bank Ltd
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For saving account it is a great idea to go through the entire process of opening an account with Euro Pacific Bank but for day to day banking it is not worth it at all! I see they have a Trading platform to trade stocks and metals that's cool since I haven't seen this before with other offshore banks yet! That said, I'm more into these "new" financial services like WorldCore, Xapo etc. where it is possible to keep at least your online privacy.
Can someone explain to me what makes this bank good to save up money compared to an online service like xapo, worldcore or Cyprus bank?
Can we open an account directly with this bank or we need a Company to go through?
You don't need an introducer to open an bank account with Euro Pacific, you can contact them directly.
Well, some things I can think of off the top of my head...1. the bank is founded by Peter Schiff, who is a well respect economist in the US and head of a brokerage company. Peter is very well versed in economics. He stakes his reputation on his companies. 2. It is a transaction only bank, which means they make no loans or do not leverage client funds...as a result everyone's money that is on deposit is still on deposit. They make their money on transaction fees. As such they don't pay interest, but that is a good tradeoff for mitigated risk. 3. They do not accept US clients, which keeps them away from US government and IRS and FATCA and all the compliance headaches. 4. There is a brokerage platform available so that you can invest your money instead of just parking it. They have other things like gold backed debit card and buying physical gold but I don't have experience with either so can't comment.
Sorry does not count. We have seen even people with a higher status in the banking industry turn into bankruptcy even Deutsche Bank is in troubles now!
Got your point anyway.That's a big + but how about all the other regulations that hits the banks TIEA, AIO and what else they are called?
Thats another big + I agree.
They are great.. got my affiliate payout the other day.. just checked my account and the money was there 
Awesome reading. Does someone know if it is strictly necessary to get a bankers reference letter for this bank to open the account? Are there other documents I can provide to get an account there?
Can report that I'm almost done with the verification process and they told me last review for my account opening
How would you rate this bank in regards to security compared to another bank like HSBC or Barclays bank?
It's free you may want to do that and checkout if this works for you. I know a lot of people that are satisfied with this bank!
Well, I can provide you all an objective update. 1. The bank account portion is great. Wires go in and out no problem. Support is good. Fees are a little high given that you earn no interest so consider it a means to just park cash.
Now the brokerage - my opinion of it has changed to the point that I may actually close my brokerage account. Reason why is twofold: 1. aside from the high commissions, they have a high withholding tax for dividends. That really kills the attractiveness of any gains. 2. The way they figure out the cash portions of the remaining dividend that is not reinvestible is not intuitive. However, the prime concern I now have is that I have not gotten some of the dividends (at all) for some of the stocks and no one in their support system can explain why and neither can my personal banker. We are talking two months after the payout date. That is not good.
However the bank portion is solid and I would recommend it.
Now the brokerage - my opinion of it has changed to the point that I may actually close my brokerage account. Reason why is twofold: 1. aside from the high commissions, they have a high withholding tax for dividends. That really kills the attractiveness of any gains. 2. The way they figure out the cash portions of the remaining dividend that is not reinvestible is not intuitive. However, the prime concern I now have is that I have not gotten some of the dividends (at all) for some of the stocks and no one in their support system can explain why and neither can my personal banker. We are talking two months after the payout date. That is not good.
However the bank portion is solid and I would recommend it.
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