Euro Pacific Bank

Negative Interest Rates on EUR Balances

Published: April 27, 2021

As you may be aware, Euro Pacific Bank introduced interest charges on large EUR bank account balances on July 11, 2019, which was limited to balances in excess of €100,000. Starting June 1, 2021, the -0.60% annual interest charge will apply to all EUR bank account balances.

Why?

Euro Pacific Bank maintains the utmost conservative banking policies by keeping your funds in “overnight deposits” at our correspondent banks, with zero lending or proprietary trading. However, due to European Central Bank negative rates on all euro deposits globally, our correspondent banks have been charging us negative interest on euro deposits for years, and to date, we have been absorbing much of this cost on our clients’ behalf.

This year, we plan to introduce new improvements, services, and client markets to our product offering, while maintaining our non-lending policy and full-reserve status. In order to do that, we decided to normalize our fee structure.

Updated Interest Schedule

Starting June 1, 2021, the 0.60% per annum interest will apply to all EUR bank account balances, above and below €100,000. The negative interest will be calculated on your EUR account balance and debited daily.

Threshold Current Interest Rate (p.a.) Starting June 1, 2021
<€100,000 0.00% -0.60%
≥€100,000 -0.60% -0.60%
 

What can I do to avoid this interest charge?

a. Lower your balance. You can try to keep your EUR bank account balance as low as possible to reduce the costs. Ultimately, the ECB negative interest policy disincentivizes the holding of euros.

b. Convert your funds. In addition to simply sending less euros to your account, you may also convert your existing euros to any other support currency.

c. Invest your excess funds. If you can tolerate some risk, you may utilize one of our numerous investment and trading products to diversify some of your euros into the markets, whether it’s in one of our mutual funds or precious metals.

Thank you for your understanding. We are continuously monitoring interest rates applied by the central banks, and if the negative interest rate environment changes, we aim to adjust our interest charges accordingly.

Euro Pacific Bank is no longer licensed to do business. As such, we are not accepting new customer accounts.

This website is being maintained by Peter Schiff personally as a memorial to the bank and to update customers on the status of their deposits that have been tied up in receivership since June 30, 2022, and on his personal efforts to recover those customer deposits—including gold and mutual funds—that were transferred to Qenta’s custody and which Qenta is now attempting to keep for itself rather than return to their lawful owners.

The legacy pages and links on this site are preserved solely for historical and educational purposes, to demonstrate how the bank operated while it was in business. They do not represent current offerings.

If you are interested in having an investment account managed by Peter Schiff and his team, please visit
http://www.europac.com.

If you are interested in buying gold, silver, or other precious metals, please visit
http://www.schiffgold.com

For official updates and notifications from Euro Pacific Bank’s OCIF-appointed Receiver, who holds exclusive authority to communicate with customers on behalf of the Bank, visit:
https://epbprliquidation.com

LAST UPDATED: SEPTEMBER 5, 2025

September 5, 2025: Clarification on Receiver’s Misrepresentations

September 5, 2025: Update on Qenta Email and Legal Action

August 26, 2025: Rebuttal to the Receiver’s Denial of Responsibility for Assets Held by Qenta

August 20, 2025: Update on Your Silver Held at Euro Pacific Bank

August 18, 2025: Euro Pacific Bank WARNING from Peter Schiff

August 14, 2025: Euro Pacific Bank Update from Peter Schiff - ACTION REQUIRED!

August 6, 2025: Euro Pacific Bank Update from Peter Schiff

August 5, 2025: Euro Pacific Bank Update from Peter Schiff

August 2, 2025: Euro Pacific Bank Update from Peter Schiff

July 30, 2025: Euro Pacific Bank Update from Peter Schiff

July 12, 2025: Qenta Status Update.

October 31, 2024: Receiver's Report.

October 16, 2024: Receiver's Notice.

October 04, 2024: Migration Update.

April 16, 2024: Receiver's Reports.

April 13, 2024: Migration & Liquidation update.

March 11, 2024: Receiver's Reports.

March 03, 2024: Migration & Liquidation update.

February 19, 2024: Migration & Liquidation update.

February 02, 2024: Migration & Liquidation update.

November 21, 2023: Migration Update (Opt-in Only).

November 20, 2023: Progress Report (Opt-out Only).

September 22, 2023: Report & Communication Portal.

September 01, 2023: Migration & Liquidation update.

July 20, 2023: Migration & Liquidation update.

June 23, 2023: Migration & Liquidation update.

June 17, 2023: Receiver's report.

May 31, 2023: Migration & Liquidation update.

May 05, 2023: Migration & Liquidation update.

April 20, 2023: Liquidation update- Action required.

March 31, 2023: Migration & Liquidation update.

March 8, 2023: Migration & Liquidation update.

January 27, 2023: Correspondent bank update.

December 16, 2022: Comprehensive FAQ is published.

December 05, 2022: Migration & liquidation update.

November 01, 2022: Mutual funds & outgoing wire requests update.

October 21, 2022: Update on Opt-out deadline - Extended.

October 14, 2022: Customer Update & Townhall.

October 8, 2022: Update on opt-out deadline for EPB clients who do not wish to migrate their account to Qenta Inc.

September 30, 2022: Update on bank liquidation, pending transactions, and migration of assets to Qenta Inc.

September 28, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 16, 2022: Update on pending transactions for clients opting out of Qenta Inc. migration.

September 8, 2022: Qenta has emailed a welcome letter to all EPB clients. You can read a copy of it here.

September 2, 2022: Update on pending transactions, brokerage, and account migration.

August 29, 2022: Euro Pacific Bank liquidation has commenced. Please read our formal instructions here as it is time-sensitive.