BOI joining embargo against Cuba

U

Usjes

Registered User
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Hi,

As per this article (http://www.irishtimes.com/business/...transfers-to-cuba-due-to-us-embargo-1.1906726) it seems BOI has recently joined the embargo against Cuba. The article goes on to say that this is not a requirement on BOI in that other Irish banks are not imposing this embargo;
'While such transfers are commonplace in other jurisdictions – and are still permitted by other Irish banks – Bank of Ireland has changed its rules on such transfers since the introduction of the Single European Payment Are'
So, I am going to close all my accounts with BOI. Can anyone supply a list of Irish banks which haven't joined the embargo so that I can know which banks I should move my accounts to ?

Thanks,

Usjes.
 
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The USA Government has hit some Banks very hard ,should these Banks either deal directly with unfavoured regimes or even have customers who deal with unfavoured regimes.In this case a USA Bank could be hammered for assisting Boi.

It means USA can use their undoubted muscle and levy huge fines where they construe their rules are not being 100% adhered to.

Even if USA Bank could claim they are not party to any transaction, if even inadvertently they aided (in this case Cuba) they will be hammered.

If in Europe we have a USA Bank handling all SEPA transactions . So if that bank transfers to Cuba/Iran etc even from Bona fide EU Banks ,then it could be fined.

I do think BOI has join any embargo , it is just too risky a business.

I presume all other Banks will be adverse to sending funds to Cuba, if not they should be.

USA actions , after 50 years of embargo.

Unfair; yes.
Bullying; probably.















.

So is USA;
Unfair ; yes.
Bully boy; probably.
 
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It could be argued that they are not doing so willingly but it is an indisputable fact that by refusing to process perfectly legal payments to Cuba they have joined the US embargo. Also, as highlighted in my original post, according to the newspaper article, other Irish banks have quite rightly chosen not to, so does anyone have a list of these banks ?

Thanks,

Usjes
 
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I may be splitting hairs but Boi have not (joined) an embargo ; I agree they are by default part of an embargo.
I presume Usa does not consider said payments to be legal.Since Usa is (big) they can dictate.

Can you ask AIB ,Ulster?. Bank choices are getting limited.I do not see any Bank advertising that they process Cuban payments.
 

Indeed, I may have to ask banks individually, I was just hoping that the internet, being the font of all knowledge, might provide a shortcut to this.

On the subject of BOI I have no doubt that they will spin it as, 'we didn't join the embargo our SEPA provider is forcing us to', which is equivalent to saying that they failed to prepare themselves properly for the introduction of SEPA, this after all the notices they sent to their customers about it - pathetic.
 
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