Published: November 1, 2022
Please find an update for all mutual fund account holders as well as clients who have entered partial liquidation requests in eBanking.
As the existing mutual fund products will be discontinued after the migration, all holders of mutual fund shares should enter a sell order within eBanking for the entirety of their current positions. Any shares still being held at the migration date would be liquidated by the bank, at which point the exact dollar value would then be credited to your cash account accordingly in order for these funds to be included in the migration.
Outgoing wire requests
The bank’s OCIF-appointed receiver has stipulated that all outgoing wires for opt-out clients must be for the entirety of the remaining account balance, as such partial outgoing wires would not be accepted before the migration to Qenta. Please keep in mind however that once the migration to Qenta has been completed you will be able to liquidate any portion of your account that you wish at any time to a first-party account of your choosing.
To cancel an existing partial outgoing wire, please send the request to the bank using the eBanking Support center, or by writing to [email protected]
To give you more time to make adjustments accordingly, the opt-out deadline for all customers has been extended to Wednesday, November 9, 2022.
As a reminder, the OCIF-appointed receiver continues to work with the correspondent financial institutions to review and process all wires for opt-out and opt-in clients, and we continue to wait for completion of their process.
Euro Pacific Bank.