Erabanq.com Review please is it a good offshore bank?

CaLViN said:

Well,
I have used Breder Suasso in past.They were same as Erabang.No iban,no questions,low tech internet banking,incredibly high usage fees.
I would never use them again.Wont use erabang either.
Unless you are a drug dealer or weapon seller,i dont think you would have intention to use those kind of services.

You should really bring some proofs, what you say it s important, since we know Breder suasso are scam

Well,i dont know why sharks didnt catch it but 8 months is already not so old.So they are brand new.

@Bmw850 what kind of proof are you asking for ?
Breder Suasso , Erabang, X , Y , Z ... Only the name changes.
Those kind of services only aim the customers which are not able to get regular bank or EMI accounts .

I am not saying that they are scam ,i dont know whether they are trustable.

CaLViN said:

Well,
I have used Breder Suasso in past.They were same as Erabang.No iban,no questions,low tech internet banking,incredibly high usage fees.
I would never use them again.Wont use erabang either.
Unless you are a drug dealer or weapon seller,i dont think you would have intention to use those kind of services.

Hello,

thank you for your posts.

Dear user CaLViN, please let us to kindly inform you that your post and your statements are not true.
We have no connection with Breder Suasso or any other financial institutions. Erabanq is Czech product of professional software developers, lawyers, accountants and fintech experts. We do not provide our services to any criminal or for any illegal activities at all and we do not support any kind of illegal activities. Erabanq is running transparent, legal and fair business, providing its payment-services and enhanced due diligence to those domestic and international clients who require and need such service of enhanced due.dil but other institutions are not willing to provide it to them for free (because it means internal costs for each institution).

Classic fee plans of other institutions cover the payment-processing only. Please understand that our fee plans cover not only the payment-processing itself but additionally the enhanced due diligence services provided to our domestic and international clients as well.

In case of any questions, please feel free to ask us.

Thank you
Erabanq Team

roman7779 said:

Hi
I work in e-commerce, with digital goods. We have UK LLP (two residents of Russia) and a Payoneer account. We tried to connect many payment providers, but almost all of us refused.
Most do not take Payoneer. Some do not like the beneficiaries from Russia. This is a big problem for us now. We have a physical address in Russia only. Stripe, 2co they refused to accept us
We also can not open online bank n26 or revolut. They do not support Russia.
Can you help us? Is your bank account suitable for payment providers from the EU and the USA?

Can anyone give me advice, please?

@Erabanq , thank you for answers for a lot of additional questions and such transparency. Please, some additional questions about your service.

a) Do you provide personal separate (dedicated) IBANs for companies, which open a corporate account at Erabanq?

b) Could we transfer funds from our Erabanq business account to the bank accounts outside EU (SEPA) (e.g. to Malaysia, Ukraine, Armenia, Kazakhstan ) through SWIFT?

c) If yes, when we will transfer funds - which name will be in bank details as the sender via SWIFT - Name of our Company or EUROPEAN SECUREPAY CENTER, S.R.O.?

d) Who will be in bank details for SEPA payments as the sender - Name of our Company or EUROPEAN SECUREPAY CENTER, S.R.O.?

Hello,

thank you for your posts.

@roman7779 - in purpose to get specific exact information about possibilities to open an account for specific exact entity or purposes or specific situations, please contact directly our support team where you can provide your input info and other details and our colleagues will be able to evaluate your situation.

@Martin Everson - the same answer as above -> specific requirements and situations have to be evaluated by our specialized department individually case by case, based on all of the input info and customer's details. It is not possible to evaluate a general not-detailed requirement/situation from a general objective point of view.

@MrTony - please, find the answers below:

A) At this moment we do not issue unique separate IBANs, however we are planning to implement this feature during 2019. At this moment all of our clients have one IBAN for sending/receiving their incoming/outgoing transactions and this IBAN belongs to Erabanq and then under the systems of Erabanq our clients have their own separated accounts and unique account numbers (for example ERABQ 12345 12345 LPEUR).

Later this year our clients will be able to choose if they want to start using their own unique IBAN (which will be listed under the client's name) or if they want to keep using the IBAN which belongs under our name.

These features will be available to our already existing clients and to our new clients as well. However, as we have already mentioned before, our capacity of accepted clients is limited. Therefore from a certain point we will not accept new clients anymore and all of our services will be focused and provided to our existing clients only.

B) Yes, you can send/receive transactions to/from third parties (usually to/from your business partners) internationally world-wide. We do not support incoming/outgoing transactions from/to some specific countries, for more info please follow this link with detailed list of all countries. In the document you can see if a country is or is not supported for incoming/outgoing transactions (the column "Transfers Allowed" is "Yes" for supported countries and "No" for unsupported countries). Example of unsupported countries: Afghanistan, Iran, Iraq, North Korea etc.

C) Yes, exactly. There will be our name. For more info please see the answer paragraph "a)" of this post. Please, read the section "ERABANQ ACCOUNT CERTIFICATE" below as well.

ERABANQ ACCOUNT CERTIFICATE

Based on previous requests of our clients we have implemented very useful feature into our e-banking. By one click you can easily generate and download official and digitally signed PDF certificate which is usable as legal and internationally accepted proof of your real ownership of your Erabanq Account maintained within our institution. The certificate contains identification of the beneficial owner of your account (you / or your company) and instructions for incoming payments (IBAN number and name of our financial institution). The certificate is digitally signed according to Regulation (EU) No 910/2014 in purpose to guarantee the authenticity of the document using so called "qualified signature" of our financial institution -> this legal act makes your Certificate to be officially recognized and accepted across the EU based on the Regulation (EU) No 910/2014.

This thread has turned to an advertising thread and is moved to the Mentor Group.

Has anyone here tried this bank, do they really cover 100k? I need second opinion from someone.

I have seen review from trusted members on this forum and applied today for account opening. If it's going OK I will post here.

Martin Everson said:

@Erabanq Can I just confirm some info about your "country info" list text file on your website.

1. Does the "Transfers Allowed" column mean as it states that transfers from/to that country are allowed?

2. Is the "Account Ownership Allowed" column mean you allow companies from that country to open accounts with you or just natural persons?

If you offer deposit protection of up to 100k and allow classic offshore companies then you have a very good competitive edge.

@Martin Everson so what you think should we go for it to open account with offshore company ?

Hello there,

This bank is in czech republic, so is reporting under CRS common standard. I'm right?

Btraveler said:

Hello there,

This bank is in czech republic, so is reporting under CRS common standard. I'm right?

EMIs are exempt I think. Any updates with this emi? Is there any third party method to verify the insurance deposit scheme?

Last edited: Oct 9, 2019

Well, I don't sure about your words. Paypal or Skrill are excempt to report under CRS scheme? Or Payoneer? They are all EMI's and, as far as I know, they all report to EU goverments

We have had a lot of questions like that already here and I believe you have to ask the EMI if they report or not or what policy they have in place.

I am reading this thread and I can't believe what I see. Deposits insurance? Seriously? The deposits to be insured, they would have to be listed under the Chech Republic deposit insurance list, but they are not ( Where is it insured? | EasyPage ). @Erabanq any reason for this? It would be worth asking to National bank of Chech Republic if Erabanq's interpretation of this is accurate at all. The document they provided about insurance is just their subjective opinion. Simply, they are just not a member of the insurance program.

In the link I provided you can clearly see this:

Uninsured deposits
Pre-paid debit cards not linked to any account, issued in the form of electronic money (e.g. Blesk peněženka, Cool karta, Napka, my paysafecard, etc.)

From what I see they are a small payment institution which, by regulation, can not advertise their services to foreigners, and especially can not hold clients money, because they are not authorized EMI.

They claim to be a team, but based on my checks, there's no physical Erabanq office at that address. I'd expect to see at least 3-5 employees to keep up the kind of operation they're running. Maybe they're just officially registered there, but based elsewhere, whatever the case, I'm not taking that much risk. Possibly a small pub for close friends that wants to stay under the radar, but in that case, I don't know why they advertise to retail clients.

Last edited: Jan 29, 2020

I wonder if any of the guys around here ever figured out what is wrong with this bank and sorted their issues out with them.

After all, I checked today, they are still in business. Their website is still up!

Anyway, I would not touch them for sure.

There website is not working any longer. I believe the nice people here on OffshoreCorpTalk did a real good job in outing them to be at least not trustable!

Good job folks.

I'mRobot said:

There website is not working any longer. I believe the nice people here on OffshoreCorpTalk did a real good job in outing them to be at least not trustable!

Good job folks.

It's now working again:

but STILL... I would NOT trust them!