Yes. The U.S. Federal Reserve has classified Stern Bank as a U.S. state bank and has provided it with an ABA routing number.
Yes. Puerto Rico is an unincorporated territory of the United States and has full access to the U.S. banking system – just like any U.S. state.
Stern Bank is the trading name for Stern International Bank LLC.
An ABA routing number will only be issued to a federal or state-chartered financial institution eligible to maintain an account with the U.S. Federal Reserve.
In most cases, accounts can be opened without requiring that the client visit our offices in Puerto Rico.
Yes, the bank accepts appointments in Puerto Rico. In some cases, it’s possible to meet with our authorized representatives in other countries.
We apologize, but under U.S. regulations and legal guidelines, we cannot share with you the reason for the rejection nor provide you with further information about our risk & compliance committee’s decision. Our decision is final.
Once all documents have been provided, the Onboarding Department usually reviews the application within three business days. (All corporate and identification documents, which may cause a delay to your application if you do not have these readily available, are required.)
Official translations must be notarized. Stern can accept documents in English and Spanish without notarized translations. Documents in other language will usually require official notarized translations. Stern Bank usually does not require apostilled documents.
No, as it is prohibited by the Bank’s Compliance Policies.
As a U.S. bank, Stern Bank is subject to restrictions put in place by the U.S. Department of Treasury, as well as certain countries restricted by the Bank’s Compliance Policies.
Limits are set on an individual client basis.
Stern Bank opens accounts in USD, EUR, and GBP. Stern Bank can also provide unique IBANs for EUR.
Stern Bank makes payments via SWIFT, Fedwire, and SEPA.
Stern Bank will introduce debit cards this year (2019).
Stern Bank will introduce personal accounts this year (2019).
No, but Stern Bank can offer time deposits. Please contact your Customer Service Representative for further information.
Yes, through the online account customers can view balances and transfer money between bank accounts, set up account alerts, and access online statements over a secure platform.