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.


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.


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

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

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

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

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

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

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

October 14, 2022: Customer Update & Townhall.

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

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

December 05, 2022: Migration & liquidation update.

December 16, 2022: Comprehensive FAQ is published.

January 27, 2023: Correspondent bank update.

March 8, 2023: Migration & liquidation update.

March 31, 2023: Migration & liquidation update.

April 20, 2023: Liquidation update- Action required.

May 05, 2023: Migration & Liquidation update.

May 31, 2023: Migration & Liquidation update.

June 17, 2023: Receiver's report.

June 23, 2023: Migration & Liquidation update.

July 20, 2023: Migration & Liquidation update.

September 01, 2023: Migration & Liquidation update.

September 22, 2023: Report & Communication Portal.

September 22, 2023: Report & Communication Portal.

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

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

February 02, 2024: Migration & Liquidation update.

February 19, 2024: Migration & Liquidation update.

March 03, 2024: Migration & Liquidation update.

March 11, 2024: Receiver's Reports.

April 13, 2024: Migration & Liquidation update.

April 16, 2024: Receiver's Reports.