Yes. Euro Pacific Bank (“EPB”) was a full reserve bank, all assets previously held by the bank are there and to be honoured whether you choose to migrate to Qenta or opt out of the migration post completion of the liquidation process.

EPB’s OCIF-appointed receiver and custodian institution must work through their process before any funds can be released. This includes opt-out clients as well as those transferring to Qenta.

The opt-out deadline ended November 30th, 2022, however the liquidation process will be completed when all requirements in the Liquidation plan have been met. This includes transfer of client funds back to clients which will occur when the OCIF-appointed receiver and correspondent bank has completed their process. All wires will be sent out as soon as their process is complete, however an exact time or date is currently not available.

The deadline for opt-out requests was November 30th, 2022. Please note however that EPB can continue to accept opt out requests for clients who missed the deadline. Please go into eBanking and enter the outgoing wire transfer request.

Qenta will not be maintaining EPB’s Mutual Funds offerings. As of November 30th, all Mutual Fund holdings are in the process of being liquidated and the exact value of your shares credited accordingly to your account in cash. The liquidation will be done in accordance with the mutual fund agreements.

Precious metals account holders can liquidate their positions in eBanking and credit the funds to their cash account. The deadline for opting out of the migration was November 30th, 2022, however EPB can continue to accept opt-out requests for clients who missed the deadline.

The brokerage accounts have now become fully disclosed accounts with Interactive Brokers (IB). All funding and withdrawals from these accounts should be handled directly with IB.

EPB’s OCIF-appointed receiver will not be allowing partial opt-out requests. This means that all opt-out first-party outgoing wire requests must be for the full balance of your account. If you currently still maintain a partial outgoing wire this request will need to be cancelled by the bank’s Operations department and the amount for the full wire entered into eBanking.

If you did not request an outgoing first party wire by November 30th for the entirety of your account balance, at the end of the liquidation process your account and assets (deposits, precious metals, brokerage, mutual funds) should be automatically transferred to Qenta.. If you have missed the November 30th deadline, EPB can still accept outgoing wire requests. Kindly note that once the migration is complete and you become Qenta clients, you can still opt-out (i.e. liquidate all existing assets) to a first party account at any time.

All new funds sent to your account after the migration would indeed need to be received for the purpose of purchasing gold, however for existing funds coming over with the migration, Qenta will honour your current portfolio as it stands. Qenta will convert migrated funds to gold as our license requires us to do, however we will assume all the risk on this conversion and your current exposure on migrated funds will remain the same as before and these funds can be liquidated at any time post migration.

The Precious Metals Accounts will move into the Responsible Gold Ecosystem which is backed by physical metal in Switzerland. You will continue to have access to your deposits through a very similar user interface. The process has already started to upgrade all gold holding clients into high quality Responsible Gold which should command a premium over standard LBMA gold which is currently the basis for the gold holdings. A similar solution is being worked on for silver clients. No action will be required from your part to complete the opt-in process.

Qenta is not a bank. Client accounts migrating from EPB will be held by the wholly owned Qenta subsidiary located in Dubai, Responsible Gold Trading Division (RGTD) and the department that will continue to serve you is Responsible Gold Trading Services (RGTS) team.

Qenta’s subsidiary RGTD is a fully licensed precious metals trading company. Please note that as RGTD is not a bank it will not be providing banking services, such as cash deposit accounts and third party transfers. Former EPB clients who migrate to Qenta will have a gold trading account and not a bank account. As mentioned before, all EPB client liabilities coming over as currency and precious metals will be fixed and obligations (ie liquidation requests) will be honoured at any time.

Yes. Anytime after the completion of the migration, you will be able to liquidate your holdings to a first party account of your choosing at any time.

All currencies previously available to EPB clients for first-party incoming and outgoing wire transfers will be available to Qenta clients, including USD.

EPB’s existing relationship with their card provider has been closed and as such EPB nor Qenta maintain any access or visibility to systems related to the previously issued cards. For all inquiries related to existing cards issued by EPB, clients should contact the card provider’s customer service line directly. These details can be found on the back of your card.

The new accounts will be available to all jurisdictions previously served by EPB. Qenta will be maintaining a restricted country list which is very similar to the one already used by EPB.

For the time being, please continue to use the Client Services channels established by EPB, e.g. info@europacbank.com, or the internal messaging system within eBanking. If your existing client services ticket has not been responded to, please escalate to hphan@europacbank.com, and we will ensure that it is handled urgently. Once the migration is complete, EPB will release new support and escalation channels for clients, however the previously existing email addresses will continue to be forwarded on to us.