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Millenium Bank
Old 03-25-2005, 10:53 AM   #1
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Millenium Bank

Does anyone use or know anything about Millennium Bank? A 1 year CD currently paying 6.50% on $100,000. I know it's offshore and no FDIC. Are the rates too good to be safe?
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Re: Millenium Bank
Old 03-25-2005, 10:58 AM   #2
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Re: Millenium Bank

no such rate here: http://www.millenniumprivatebank.com/economic/rate.asp

and it says they are FDIC member....

Be a bit more specific pls. Cheers!
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Re: Millenium Bank
Old 03-25-2005, 02:00 PM   #3
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Re: Millenium Bank

He's not talking about that Millennium Bank. He's talking about this Millennium Bank http://www.mlnbank.com/
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Re: Millenium Bank
Old 03-25-2005, 02:07 PM   #4
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Re: Millenium Bank

yeah I figured it was another bank...
I checked the homepage. A would be rather scared to put large sums there. Call me chicken!
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Re: Millenium Bank
Old 03-25-2005, 11:38 PM   #5
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Re: Millenium Bank

Quote:
He's not talking about that Millennium Bank. He's talking about this Millennium Bank http://www.mlnbank.com/
How about this bank?
http://www.united-bank.net/rates.cfm

How risky are these offshore banks? Anyone
having actual experience with them?

Joe
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Re: Millenium Bank
Old 12-30-2006, 09:13 PM   #6
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Re: Millenium Bank

http://www.mlnbank.com/Services/premCDs.htm Still a proud sponsor of the Firecalc.com home page . Now offering 9.0% on five yr/100k CD. 2005's discussion didn't yield much poop. I know nothing about offshore 'Private Trusts'. Looks way too good to be a nice, low risk CD (like PFCU's 6.25% offer this week).

So... deal...or no deal?

dc
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Re: Millenium Bank
Old 12-30-2006, 09:40 PM   #7
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Re: Millenium Bank

Quote:
Originally Posted by Dogcliff
Looks way too good to be a nice, low risk CD (like PFCU's 6.25% offer this week).

So... deal...or no deal?
No deal.

They can close up shop whenever they want and keep all your money. And there's nothing you can do about it.

I don't know this mlnbank, I don't know what they do, I don't know what they live on. Now why don't you tell them that an investment is out of the question, and you don't want to do business with them anymore. They'll understand, believe me.
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Re: Millenium Bank
Old 12-31-2006, 08:03 AM   #8
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Re: Millenium Bank

see: http://www.fatwallet.com/forums/mess...ord1=millenium
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Re: Millenium Bank
Old 12-31-2006, 09:13 AM   #9
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Re: Millenium Bank

Bad deal. Better off with registered junk bonds issued by a US company for the same yield.
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Re: Millenium Bank
Old 12-31-2006, 11:45 AM   #10
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Re: Millenium Bank

Yeah... pretty much thought so. Thanks for the consensus.

dc
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Re: Millenium Bank
Old 01-02-2007, 10:29 AM   #11
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Re: Millenium Bank

There is (was?) a similarly named bank in the USA (Virginia) that I used to live near (1999-2002, Herndon, Virginia). I never invested there, but they seemed to offer good rates. Plus the advantages of FDIC insurance
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