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+--- Thread: Case & Whitworth Financial Corporation of Sirius. (/showthread.php?tid=28158)
Case & Whitworth Financial Corporation of Sirius. - Walker - 10-14-2009
//In an effort to bring a unified, trustworthy, and long standing bank to the server.
I present the Case & Withworth Financial Corp.
History and etc will come later, what is currently at hand is the feedback of the system I am implementing in how the bank will be run and maintained.
The System
The bank will be started with a capital of 100,000,000 Credits. One-Hundred Million.
In order to make any transactions, deposits, withdrawals, loans, etc. A person must first register with the bank.
The registration process entails various information regarding relevant questions.
In a manner similar to the Fair Credit Reporting Act, any transaction or change to your account you will be notified. You may request that you will not be notified of certain things. This includes interest and etc.
After registering with the bank, you are free to open an account. Based upon your current status in the community, a certain amount of credit will be given to you which will allow you to take out loans.
Depending on the amount of credit you own, a certain sum of money will be able to be loaned out to you as total. The Bank will NOT loan out more then 40% of its total earnings.
New People can't simply walk in here, take out a decent sized loan, and then walk off never to be seen again.
So, recap.
Register with the bank.
Credit given in regards to registration.
Credit used to determine total amount able to be loaned.
If anyone is banned indefinitely the bank will seize your money. This is to prevent vacant and closed accounts. And to keep money in circulation.
An interest rate of 2% will be given to all accounts every week. Seeing as previously people stashed in amounts of 500,000,000 Or more on previous banks with 10% interest netting them 50M a week. And then just living off of the interest.
All accounts will be private, information will not be disclosed with anyone unless that person gives expressed permission to do so.
All Loans will be worked out with the person in a interview via Skype and/or other Instant Messaging Service. Deadlines will be given and an interest rate established, both parties will agree upon the terms and conditions. The T&C may not be changed after two days of the start of the loan.
Grouped Accounts will be available, the account creator may set a Keycode and give that code to anyone he wishes to have access to the account. The Creator may set a certain rate of money available to be withdrawn from anyone not him. The Creator may change the code at any time. The Creator may set an amount of money that if withdrawn must go through him first. (IE: The $10,000 and the IRS Report)
An In-RP Character MUST be given as a loan receiver and that character will be held responsible if the payment is not due. If the Character is deleted or otherwise found in-active, we will find you by other means and beat the money out of you.
People who have fled with the money or otherwise have failed to pay their loans and refuse to will be marked as criminals, and alerted to all lawful entities. If the In-RP Character given was just a front so the person can hog a separate RP Character trader or such, we will go after the Trader for association and mysterious accumulation of wealth.
Extensions on loans may be called for. No Loan will be extend more than 250% of its original time.
If a loan was due in eight days, you cannot extend it more than Twenty days.
Down Payments and/or collateral will also be a factor, and depending on the loan may be required.
If a tremendous amount of loan stealing is going on, the money will be tightly guarded and loans cut back on.
Feedback? Suggestions? Thoughts? Problems? Feel free to add things into it, any idea however idiotic or out there is welcome to be reviewed.
EDIT: Any loss or fail of this bank is to be blamed on Zelot.