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The Deranged Bank


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Hello my friends. After a good amount of time I have decided to once again open a bank.

How would this time work? I have pondered the issues of banking and its risks at length and came up with what I think is a great solution.

first of all, I wanted to find a way to secure our assets against possible scammers. Secondly, I wanted to offer our clients a lower rate than they are accustomed to. to do this I did the following:

1) Clients taking loans must deposit an equal amount of resources as collateral. This is very handy for most since alliances and individuals usually keep large sums of resources for war. With our loans, they can liquify that warchest into cash to further their growth and get back the resources when they actually need it.

2) Rates will be a fixed 6% monthly.

3) Since these type of loans will likely be long term there will be a minimum of 1 month loans and instead of a weekly return, there will be a monthly return. This will also make it easy for management. If for some reason the client needs to cancel the loan and get their resources back they can do so at any time and not necessarily at the end of the fiscal month.

4) Investors are welcome to bring your extra cash, you will be paid and your money will be insured completely this time.

5) join us in your brand new server https://discord.gg/hwGwvar9 and help us start this revolution!!

Edited by Seb
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Banking in game (or irl) is based on credits and the risk assessment of the lenders. Good luck getting a single customer. If you're not a risk taker, business isn't for you.

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1 hour ago, Seb said:

I have pondered the issues of banking and its risks at length and came up with what I think is a great solution.

How about...alliance banks? Why people insist on these external banks, I still don't understand. 6% interest is huge compared to the 0% interest a well managed alliance bank charges. So who is your market? Awful micros? Are macros that bad at money management? Do people not ask their allies for loans?

 

This bank should be unnecessary. 

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Do you guys know how to edit the signature field? I can't figure out where it is.

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7 minutes ago, zigbigadorlou said:

6% interest is huge

6% monthly comes down to under 1.5% weekly, which is less than pretty much every other bank, other than alliance ones.

Edited by Big Mac
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1 hour ago, Isjaki said:

Banking in game (or irl) is based on credits and the risk assessment of the lenders. Good luck getting a single customer. If you're not a risk taker, business isn't for you.

you don't understand banking irl it seems. Large loans are done with collateral. This is called a Mortgage. The only thing in PW that can act as collateral is resources.

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An official Statement from Yarr!

Yarr and it's leader cctmsp13 want it to be known, this bank is not associated with Yarr other than it being managed by a Yarr member.  The alliance of Yarr holds no responsibility for investments lost due to bad loans.

Of course, I will not tolerate my members committing outright fraud, so if you have suspicion of such feel free to contact me, however even in such a case Yarr will not reimburse more than we can seize from Utter Nutter's account with us.

That said, I have reached an agreement with Utter Nutter to take the extraordinary step of (slightly) opening Yarr's books.  Utter Nutter has agreed that any client or investor in this bank may request to know the balance of Utter Nutter's account (both cash and resources) with Yarr.

--edited to reflect in game name change
-- editted because i can't type (thanks Zig)

Edited by cctmsp13
name change
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7 minutes ago, cctmsp13 said:

An official Statement from Yarr!

Yarr and it's leader cctmsp13 want it to be known, this bank is not associated with Yarr other than it being managed by a Yarr member.  The alliance of Yarr holds no responsibility for investments lost due to bad loans.

Of course, I will tolerate my members committing outright fraud, so if you have suspicion of such feel free to contact me, however even in such a case Yarr will not reimburse more than we can seize from Seb's account with us.

That said, I have reached an agreement with Seb to take the extraordinary step of (slightly) opening Yarr's books.  Seb has agreed that any client or investor in this bank may request to know the balance of Seb's account (both cash and resources) with Yarr.

note Seb is someone else ingame now. I am Utter Nutter so when asking for my balance, ask for me!!!

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1 hour ago, zigbigadorlou said:

How about...alliance banks? Why people insist on these external banks, I still don't understand. 6% interest is huge compared to the 0% interest a well managed alliance bank charges. So who is your market? Awful micros? Are macros that bad at money management? Do people not ask their allies for loans?

 

This bank should be unnecessary. 

6% per month, not week. This is a lot cheaper than anything else out there.

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7 minutes ago, Natonito said:

Congrats on the opening of your bank.  Just make sure not to pull a Taith, I guess.

I have a transparent history in this business. Everyone knows how I've ran all my banks in the past and never have I pulled any shady stuff.

You are welcome to join our server and see how this transparency will take place this round.

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Perfect timing, plus you have a great track record. For example: Orion Bank was a smashing success with no issues :) Orbis Banks in general are foolproof. I mean look at Taith. What could go wrong?

 

Invest! Invest! Invest!

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21 minutes ago, Kevanovia said:

Perfect timing, plus you have a great track record. For example: Orion Bank was a smashing success with no issues :) Orbis Banks in general are foolproof. I mean look at Taith. What could go wrong?

 

Invest! Invest! Invest!

the only solution to your dilemma and corrupt player ran banks is to code a loan system directly into the game. Sadly, the time I tried to implement that the community rejected it completely. I would, however, be the first defender should the community want a foolproof ingame, coded, AI ran bank. I would even put in the time to help developers come up with the best possible system.

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3 hours ago, zigbigadorlou said:

I still don't understand. 6% interest is huge compared to the 0% interest a well managed alliance bank charges.

0% Loans from alliances have another name. They are called "Grants". And they can be paid back with taxes.

Just now, Utter Nutter said:

hey, make your own thread!

I love you really Seb, good luck mate.

2 hours ago, Utter Nutter said:

6% per month, not week. This is a lot cheaper than anything else out there.

I haven't received a loan for more than 1.5% interest in over a year, do you have a valid reason as to why I should switch banks?

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Posted (edited)
10 minutes ago, Ragnarok8085 said:

I haven't received a loan for more than 1.5% interest in over a year, do you have a valid reason as to why I should switch banks?

I am good looking

and... a month contains 4 weeks and some days with the exception of february so it's slightly less than 1.5% a week. it is as a matter of fact 1.4%

Edited by Utter Nutter
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3 hours ago, cctmsp13 said:

Of course, I will tolerate my members committing outright fraud

Is that a typo or are you just being shady

3 hours ago, Utter Nutter said:

 Everyone knows how I've ran all my banks in the past and never have I pulled any shady stuff.

As much as I like to argue against banks, you're probably the person I would trust with this. 

1 hour ago, Utter Nutter said:

the only solution to your dilemma and corrupt player ran banks is to code a loan system directly into the game. Sadly, the time I tried to implement that the community rejected it completely. I would, however, be the first defender should the community want a foolproof ingame, coded, AI ran bank. I would even put in the time to help developers come up with the best possible system.

This is a terrible idea because it prevents the risk aspect. In my opinion, we should be increasing player risk, not decreasing it. 

1 hour ago, Ragnarok8085 said:

0% Loans from alliances have another name. They are called "Grants". And they can be paid back with taxes.

Taxes are theft. Those are different things. That's a common way to run an alliance, but imo it's a terrible method considering you either stifle individual playstyles or slow down growth depending on how its implemented. 

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Do you guys know how to edit the signature field? I can't figure out where it is.

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3 hours ago, zigbigadorlou said:

Is that a typo or are you just being shady

 

Typo, corrected, thanks and appreciated

Edited by cctmsp13
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11 hours ago, Utter Nutter said:

you don't understand banking irl it seems. Large loans are done with collateral. This is called a Mortgage. The only thing in PW that can act as collateral is resources

Generally you don't need a full collateral loan.. generally irl it's around 10% it's unlogical for me to pull a loan for cash at a interest against myself, since I'm fully covering it, "you don't understand banking irl" feel this is a bit reverse, as well this is a game not rl, the ideaollgy that it's comparable is not correct in this case

Edited by Dusty
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