An Operating Agreement is essentially your internal client profile at Euro Pacific Bank, composed of your:
- Purpose of your account
- Business description (if corporate account)
- Expected transactions
Your Operating Agreement dictates what transactions we will and will not action in accordance with our regulatory requirements. Therefore, we require your assistance creating and updating it periodically to quickly and efficiently process your transactions.
If you have any other resources or references that we can use in updating your Operating Agreement, please notify us.
The Bank does not send any statements to any physical, or mailing addresses, unless expressly requested by the client. All necessary statements are available for electronic generation in the online banking system.
The monthly account maintenance fee is assessed on a per client basis. This means that clients are not billed additionally for having multiple currency accounts. The maintenance fee is assessed on the 1st day of every month
Some of your initial deposit will be “blocked” upon arrival, an amount that is listed on our Fees & Charges page.
The blocked amount ensures you do not “zero out” your account, preventing you from paying the monthly maintenance fee. In other words, the blocked amount acts as a reserve in case your bank account does not have a sufficient balance to debit the monthly maintenance fee.
Upon closing your bank account, the Bank will release the blocked value (or whatever remains) to your available balance.