AboutRobert Hanzel Expertise I can answer questions regarding most areas of consumer and commercial finance. I have extensive experience regarding various types of loans (commercial, consumer, USDA, SBA 504, SBA 7A, foreign), many investment vehicles, credit, economics, and banking. I am not an expert regarding tax structures and other tax issues and thus would not recommend asking tax related questions
Experience Over 11 years Financial, Investigative, and Legal experience including loan review, due diligence, financial analysis, collections, and risk management. I have managed Credit Administration, Loan Administration, Credit Analysis, Credit Review, Liquidation Departments, Collections, and workouts
Organizations Both the Risk Management Association and the Bank Administration Institute.
Education/Credentials I have obtained both my Credit Risk Certification from the Risk Management Association and a Loan Review Certification from the Bank Administration Institute.
Question Actually can we try this again since there seems to be so many Millennium Banks? The one I was referring to has a website at http://www.mlnbank.com/homepage.htm and seems legitimate. But again how safe is it doing business outside the US and do you the same rights in the event there are any problems?
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The text above is a follow-up to ...
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I recently saw an offer from Millennium Bank of Switzerland for a high yield premier CD's with a rate of 6.5 % on a $5000 deposit for one year. How safe is it to invest your money like this?
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Personally, I would not feel comfortable with this investment because I cannot find any information about this bank outside of the banks site itself. They are not publically traded nor can I find anything about them. The fact that they are offering online services to out of country customers makes me nervous as well. They do not have a .com name but instead a much less used suffix. They do not offer an actual address, only an e-mail and phone number. It could be a legitimate business, but I don't see anything about them that would make me feel comfortable lending them the money that I work very hard for. This is purely my personal opinion, but I think that is what you were asking me for. Let me know if I can do anything else.
Answer That is the same bank that I was looking at. Sure, the website appears professional, but I could put one together that looks like that in about an hour. Everything I said before remains. Personally, I would not feel comfortable with this bank, or with my money overseas. No, you do not have the same rights. Remember that possesion is 9/10ths of the law. Therefore, whoever has the money gets to make the rules. You are subject to Swiss rules and regulations should you decide to participate.
