This is good news for customers using the bank’s gold or silver backed debit cards.
Currently, to use these cards you need to have a USD account with the bank and fund this account by selling your gold/silver. This fee reduction means it’s more economically viable for clients to sell their metals and load up their cards.
The Euro Pacific Bank is located in St. Vincent & the Grenadines which has established banking secrecy in statute making it one of the most private and secure places to do business and protect your assets.
Mr Schiff opened the bank to better serve his non-US investors as the current U.S. regulatory environment has made it very costly to assist international clients. Unfortunately, this means if you are an American citizen or resident you cannot open an account with the bank.