Euro Pacific Bank

Liquidation Update: Action Required

Published: April 20, 2023

Dear Customers,

After many months of waiting, we are happy to announce that the liquidation of Euro Pacific Bank will officially commence before the end of April as the correspondent bank has been ordered to unfreeze queued wires. Over the next few days, you will be receiving specific information to better guide you through this process.

What this means for you:

Opt-out clients

If you are an opt-out client, meaning you have queued up an outgoing wire for the full balance of your account and are therefore not migrating to Qenta, EPB’s receiver will begin processing your outgoing first-party transfers before the end of April with the assistance of EPB’s correspondent bank. The EPB Client Services team will assist the receiver as needed, and you can reach this team at anytime at [email protected].

Opt-in clients

If you are an opt-in client, meaning that you will be participating in the migration to Qenta, your assets will be safely brought into the Qenta ecosystem, and you will receive detailed onboarding and registration instructions in the coming days. The Qenta Client Services team will also be available to provide you with assistance throughout this process.

Your record-keeping

Please note that EPB’s current banking systems will continue to function as usual until the end of April 2023. As such, kindly take the time to download your statements from within your account for your own recordkeeping purposes. You will also receive confirmation from Qenta and/or the receiver once the migration and/or liquidation has concluded.

Please also be aware that if there has been no movement in your account for a given month, the system does not generate a statement; to resolve this you would just need to generate an older statement from when the last movement in the account occurred.

We would like to thank you for your patience and understanding throughout this process, and will be in further touch.

Euro Pacific Bank.

Migration & Liquidation Update: March 31, 2023

Published: March 31, 2023

Dear Customers,

Firstly, we would like to express our gratitude for your patience and understanding as we continue to wait for the receiver and correspondent bank to complete their process and for the bank liquidation to finally commence. Here are the updates about the migration & liquidation process that we have collected in the last few weeks.


According to the receiver’s latest update, the correspondent bank still cannot provide us with a final date as to when the bank liquidation will officially begin. Please rest assured that we are continually following up and closely monitoring the situation, and that we will keep you informed of any developments as soon as they are available.


The migration to Qenta will take place at the same time as the bank liquidation, and as such we are still waiting for confirmation on the final date for when this will officially commence. In the meantime, we are preparing exciting news and developments on the registration, onboarding, and product offerings to come, so please stay tuned!


We would like to remind all clients to download your historical statements. Here is a short guide on how to generate statements from your eBanking.

It is important to do so as soon as possible to ensure that you have access to all the financial information that you need. If you require assistance with generating your statements, please do not hesitate to create a case in the Support Center for assistance.

Once again, we would like to thank you for your patience and understanding during this time. And as always, if there’s any question, please feel free to reach out to our Client Services team at [email protected].

Euro Pacific Bank.

Migration & Liquidation Update: March 08, 2023

Published: March 08, 2023

Dear Customers,

We would like to take this opportunity to express our appreciation for your continued support and patience as we are awaiting news from the correspondent bank and the receiver. We also acknowledge that many clients have sent in their inquiries lately, so we would like to provide you with some clarity regarding the status of the liquidation and migration, as well as Qenta and its services.

To address the frequently asked questions we have received, we have compiled the following information:

  1. Has the bank liquidation for opt-out clients already begun?
    No. The liquidation of the bank is an ongoing process. We are expecting the process to continue to run in parallel to the situation with the correspondent bank. Further updates in this regard will be provided as soon as available.
  2. Can I open an account at Qenta before the migration takes place?
    No. EPB clients who have chosen to opt-in to the migration to Qenta will need to wait until the receiver and correspondent have finished the liquidation process before being onboarded into Qenta.
  3. I am an opt-out customer, how will I receive my funds?
    EPB customers who have queued an outgoing wire for the entire balance of their account are considered to be opting out of the migration to Qenta and will stay with the receiver who will facilitate the liquidation for these customers and oversee the process of completing all outgoing wires to their respective destinations.
  4. What services will Qenta be providing upon completion of the migration?
    It is important to note that Qenta is not a bank, as such third-party payments as an example will not be allowed. Upon migration, clients transferring to Qenta will have the ability to hold gold, and cash out their holdings at any time in USD to a first-party account of their choosing. The ability to buy additional gold will also be added shortly after. In the future, Qenta will be rolling out other exciting services such as gold-backed debit cards, access to other commodities, and much more.
  5. I am currently an opt-in customer, can I still opt-out after the migration has been completed?
    Yes. Once the migration to Qenta has been completed, you can choose at any time to cash out to a first-party account of your choosing at any time.
  6. How will I receive notice of the liquidation and migration when they take place?
    All customers will receive email notification as soon as the official timeline for the liquidation and migration is ready to be released. Updates will also continue to be added to the EPB website. In addition, instructions for migrating customers will be received by email before the process is set to begin.

If you have further questions about Qenta & its services, please send your inquiries to [email protected]. For inquiries about the liquidation, please email [email protected] as always. Thank you for your continued trust and partnership.

Euro Pacific Bank.

Temporary Outage of eBanking Platform

Published: Feb 01, 2023

Dear Customers,

We regret to inform you that our eBanking platform is currently experiencing technical difficulties and is temporarily unavailable. Our team is working diligently to resolve the issue as soon as possible.

We apologize for any inconvenience this may cause and want to assure you that your account information and funds are safe and secure. In the meantime, please direct any urgent banking needs to our client service at [email protected].

We will keep you updated on the status of the platform and will notify you as soon as the system returns to normal. Thank you for your understanding and patience.

Euro Pacific Bank.

Migration & Liquidation Update: Jan 27, 2023

Published: Jan 27, 2023

Dear Customers,

We would like to provide an update regarding the EPB Liquidation and release of customer deposits. As reported by the Receiver on Jan 23, 2023, the correspondent bank has indicated that their process to allow liquidation of EPB assets to conclude would be delayed further until March 2023.

We understand that this news may cause concern, and we want to assure you that we are closely monitoring the situation and staying in touch with the Receiver. We will also continue to provide updates as things change and/or reminders to keep you informed accordingly.

Please note that until the correspondent bank concludes their internal process, Qenta is not able to conduct the migration of opt-in accounts, and outgoing wire requests can not be processed for opt-out clients. We apologize for any inconvenience this may cause and thank you for your continued patience and understanding.

If you have any questions, please do not hesitate to reach out to us at [email protected] or if you need to escalate, you can email [email protected].

Euro Pacific Bank.

Migration & Liquidation FAQ

Published: December 16, 2022

In an effort to continually update you about the liquidation & migration process, we have created the following comprehensive Frequently Asked Questions list that is composed of the most essential questions & answers regarding the liquidation of Euro Pacific Bank & migration to Qenta for your reviews.
Euro Pacific Bank.

  1. Are my funds and investment account holdings safe?

    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.

  2. Why is the liquidation process still not done?

    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.

  3. When will the liquidation process be completed?

    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.

  1. For cash deposits, how do I opt-out?

    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.

  2. How do I opt-out if I own mutual funds?

    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.

  3. How do I opt-out if I have precious metals account holdings?

    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.

  4. How do I opt-out if I have brokerage account holdings?

    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.

  5. Can I do a partial opt-out from the migration as well as transfer some funds to Qenta?

    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.

  1. How do I opt-in to Qenta?

    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.

  2. Are you converting my funds to gold with the migration to Qenta?

    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.

  3. What about my precious metals account holdings with the migration to Qenta?

    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.

  4. Is Qenta a bank?

    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.

  5. If Qenta is not a bank, how are you licensed to receive former EPB client deposits?

    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.

  6. If I opt-in, can I still opt-out at a later date?

    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.

  7. What currencies will be available with the transfer to Qenta?

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

  8. What about my existing EPB bank card?

    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.

  9. Does Qenta serve all jurisdictions?

    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.

  1. How do I get in touch with EPB if I am having a problem?

    For the time being, please continue to use the Client Services channels established by EPB, e.g. [email protected], or the internal messaging system within eBanking. If your existing client services ticket has not been responded to, please escalate to [email protected], 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.

Last updated: 12/20/2022.

Migration & Liquidation Update: Dec 5, 2022

Published: December 5, 2022

Dear Customers,

Thank you for your continued patience. We wanted to let you know that the Receiver appointed by the Puerto Rican government to oversee the liquidation process continues to work with the correspondent bank to process all outgoing wires for opt-out clients as well as the wires for opt-in clients, however, we still do not have a clear indication as to when their process will end. Your frustration is shared and understood.

Until these parties have completed the liquidation process, no one will have access to funds held at the correspondent financial institution – neither the opt-out clients, nor Qenta for the opt-in clients. Unfortunately, the team at Euro Pacific Bank/Qenta do not have any control over the speed of this process between the Receiver and the correspondent bank.

Please rest assured that the moment we receive approval to proceed with the transfers the operations team is standing by ready to complete these actions immediately.

In the meantime, we will also continue to follow up and provide further updates to all customers as soon as they become available.

As always, if any questions please feel free to reach out to us directly at [email protected] or if you need to escalate, you can email [email protected].


Euro Pacific Bank.

Migration Update: Nov 1, 2022

Published: November 1, 2022

Dear Customers,

Please find an update for all mutual fund account holders as well as clients who have entered partial liquidation requests in eBanking.

Mutual funds

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].

Deadline Extended

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.

And as always, please feel free to reach out to us directly anytime at [email protected] or if you need to escalate you can email [email protected].


Euro Pacific Bank.

Mutual Fund Update: Oct 25, 2022

Published: October 25, 2022

Dear Mutual Fund Customers,

This message is to inform you of the options for your mutual fund holdings as they relate to the upcoming migration to Qenta. Following the migration, the mutual fund offerings will no longer be available.

Next steps

Before the migration is completed, all existing mutual fund holdings would need to be liquidated and the exact dollar value of your shares credited to your existing EPB cash deposit account. These cash deposits would then be migrated to the new system once the correspondent institutions have completed their process.

  1. For clients who wish to opt-in to the migration, no action is required on your part for this to be completed.

  2. For clients who currently hold mutual fund shares and do not want to be part of the migration to Qenta, you will need to enter a sell request from the Trade tab in eBanking for all your current mutual fund shares. When this is completed, your funds will be credited back to your EPB bank account, at which point you can request an outgoing wire for the full amount to a first-party account in order to complete the opt-out process.

If you do not have access to your account, please reach out to our Client Services team as soon as possible by sending an email to [email protected], or by phoning toll-free at +1-888-527-4041, and they will be happy to complete the verification process in order to reinstate your access.

For assistance with other issues, or any other questions, please use the same channels to contact Client Services, and we will work diligently to have everything responded to in a timely manner.

Best Regards,

Qenta Team.


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.