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Hexxx
Minmatar
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Posted - 2008.01.23 19:41:00 -
[1]
Edited by: Hexxx on 23/01/2008 19:42:26 Official EBANK Announcement http://www.eve-bank.net/
Hey guys...
Got a couple things here, but before that, just a word on what EBANK has been up to lately. Our internal discussions have been extremely active lately; we have an extremely numerous amount of things that we're debating right now that cover the entire spectrum. Mr. Horizontal has also been working extremely hard on multiple areas of EBANK and has revised numerous systems. I've been working alot on my own projects as well. We have been very busy here at EBANK and although we can't always tell you what we have in the pipeline, I can tell you that I am personally VERY excited about a number of things. I believe 2008 is going to be a very eventful and very memorable year for us.
Onto the news items!
1) The EBANK Board of Directors has voted to expand Checking Account limits from 500 million to 1 billion isk, effectively increasing the amount of money you can hold in a Checking account by 100%. This is going through the final stages of testing but should be released in a few hours. An announcement on EBANK's website will signal when this officially goes live. This is taking a little time since Mr. Horizontal and I have been working on streamlining general account rules and restrictions into something more dynamic and flexible, allowing EBANK greater options when it comes to what sort of accounts it can offer. Those of you planning on taking advantage of this, I'd recommend sending your money through now so that you can throw it into the expanded Checking accounts as soon as they go live. Savings accounts are not being expanded, and will remain capped at 500 million for transfers. This means you can not transfer any isk into a Savings account which is at or over 500 million. Interest will continue to build for all accounts, no matter what the balance is. 2) Discussions for Phase IV have begun. Requirements are being discussed and the development team has a few things they have to do before the Board will vote on the matter. No, I can not speculate on when the vote will happen other than to say "soon". The requirements are (once again) focused on further oversight into the Operations side of EBANK, cash holdings by the EBANK tellers, and transaction histories for tellers via the EBANK website for Board members. As usual, it's recommended that you reserve an account if you haven't done so already...accounts can be created for as little as 0.01 isk (cheap, ain't it?) sent to "EBANK Ricdic".
Consulting, IPO Template, and Stock/Bond definitions.
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Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.23 22:16:00 -
[2]
Good news, Hexxx
For the rest of you Ill add a little information cause im sure some of you are thinking it.
Savings Account = 3%/month(currently limited at 500m total transfered ammount, can exceed 500m only by it generation of intrest)
Checking Account = 1.5%/month (was limited at 500m, now being upgraded to 1b total transfered amount, can exceed 1b only by generation of intrest)
Both types of Accounts generate there intrest daily.
DISCLAIMER I am not in any way officially/unofficially, part of the EBANK organization. I am just a friendly neighborhood forum *****. Contents of my post are the expressed and most likely slightly delusional workings of my own mental process. I just thought I would idiot proof the above offical statement so no "stupid questions" were asked --
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Amarr Citizen 155
Alternative Methods Research Group
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Posted - 2008.01.23 22:28:00 -
[3]
Originally by: Treelox
DISCLAIMER I am not in any way officially/unofficially, part of the EBANK organization. I am just a friendly neighborhood forum *****. Contents of my post are the expressed and most likely slightly delusional workings of my own mental process. I just thought I would idiot proof the above offical statement so no "stupid questions" were asked
So does this mean you are increasing the amount of money a person can deposit into their checking account from 500m to 1b??? What about savings accounts, are they changing?
DISCLAIMER I'm joking. - 1. Something said or done to evoke laughter or amusement, especially an amusing story with a punch line. You may now laugh, please clean up after yourself when you are done.
---------------------------------------------- Why do it the hard way when you can do it the AMARR way. |
Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.23 22:33:00 -
[4]
Originally by: Amarr Citizen 155
So does this mean you are increasing the amount of money a person can deposit into their checking account from 500m to 1b??? What about savings accounts, are they changing?
DISCLAIMER I'm joking. - 1. Something said or done to evoke laughter or amusement, especially an amusing story with a punch line. You may now laugh, please clean up after yourself when you are done.
OMG your trolling me, as is now the custom here in MD, I shall now begin the wardec vote against your corp.
:P --
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Amarr Citizen 155
Alternative Methods Research Group
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Posted - 2008.01.23 22:34:00 -
[5]
You have exactly 840 hours before i wardec you to jita. send me 1 million isk now or suffer the consequences in 840 hours.
---------------------------------------------- Why do it the hard way when you can do it the AMARR way. |
Relyen
Caldari Digital Fury Corporation Digital Renegades
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Posted - 2008.01.23 22:50:00 -
[6]
This is excellent news indeed. :)
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Astorothe
Aperture Science Industries
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Posted - 2008.01.24 00:43:00 -
[7]
This might be interesting if it was the Savings account that was being raised.
Ze logs show NOTHING! ~ Eve Corp and Fansite Web design, development and hosting services
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Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.24 01:15:00 -
[8]
Originally by: Astorothe This might be interesting if it was the Savings account that was being raised.
Translation= Bah humbug!
:P --
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Shadarle
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Posted - 2008.01.24 03:17:00 -
[9]
Why is there even a limit to the checking account? I would hope that no matter how much money is invested you could find a way to earn 1.5% on it...
Tanking Setups Compared
Stacking Penalty / Resists Explained |
Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.24 03:36:00 -
[10]
Originally by: Shadarle Why is there even a limit to the checking account? I would hope that no matter how much money is invested you could find a way to earn 1.5% on it...
Im guessing that there is a limit, because there are plenty of "lazy lemmings" who would put in 10s of billions into their 1.5% accounts if they could. You forget Shadarle, how many people are looking for a free lunch, no matter how stale the bread may be. --
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Shadarle
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Posted - 2008.01.24 03:39:00 -
[11]
Originally by: Treelox
Originally by: Shadarle Why is there even a limit to the checking account? I would hope that no matter how much money is invested you could find a way to earn 1.5% on it...
Im guessing that there is a limit, because there are plenty of "lazy lemmings" who would put in 10s of billions into their 1.5% accounts if they could. You forget Shadarle, how many people are looking for a free lunch, no matter how stale the bread may be.
My point is that at 1.5% I don't care if 1 trillion ISK is deposited, if you can't make 1.5% on it there is something wrong. And you should be able to make that 1.5% within that first month... though I'd hope you'd be able to make at least 3-4%. Heck, even with the incredibly drop in Mothership BPC prices you could get well over 1.5% from them by making copies of BPO's. Heck, you could even make Titan BPC's if you wanted to use up large quantities of money in one chunk.
Tanking Setups Compared
Stacking Penalty / Resists Explained |
Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.24 03:46:00 -
[12]
Edited by: Treelox on 24/01/2008 03:48:50
Originally by: Shadarle
Originally by: Treelox
Originally by: Shadarle Why is there even a limit to the checking account? I would hope that no matter how much money is invested you could find a way to earn 1.5% on it...
Im guessing that there is a limit, because there are plenty of "lazy lemmings" who would put in 10s of billions into their 1.5% accounts if they could. You forget Shadarle, how many people are looking for a free lunch, no matter how stale the bread may be.
My point is that at 1.5% I don't care if 1 trillion ISK is deposited, if you can't make 1.5% on it there is something wrong. And you should be able to make that 1.5% within that first month... though I'd hope you'd be able to make at least 3-4%. Heck, even with the incredibly drop in Mothership BPC prices you could get well over 1.5% from them by making copies of BPO's. Heck, you could even make Titan BPC's if you wanted to use up large quantities of money in one chunk.
I refer you to the title I give these people "lazy lemmings". Seriously Shadarle, you got to interact a bit more with the greater player base more, because there are plenty of people out there who would deposit their 10s of billions in a 1.5% monthly account, just so they didnt have to mess with things at all.
Remeber there are lots of people who go stupid over "big numbers" and fail to think about the ROI. Put 10bil in a 1.5% account and its a 150mil a month, there are sadly many ppl who would be excited about that, if they didnt have to do a thing.
These are the same ppl who always sell to buy orders and buy from sell orders. Also related to the "my minerals are free in my production cost, since I mined them" crowd.
---edit added last 2 sentences
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Bouncer Ricdic
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Posted - 2008.01.24 03:48:00 -
[13]
Originally by: Shadarle Heck, even with the incredibly drop in Mothership BPC prices you could get well over 1.5% from them by making copies of BPO's. Heck, you could even make Titan BPC's if you wanted to use up large quantities of money in one chunk.
Yeh but if you personally deposit 30b under the premise then we need to have 30b as a dead minimum in operational funds to cover your potential withdrawal. Means it defeats the purpose somewhat. So it isn't that we can't afford to pay interest on 1.5% but that we are trying to limit the damage a run on the bank can do.
A lot is changing anyway, might even be some things you like so hold out a tad longer. <3
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Shar Tegral
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Posted - 2008.01.24 03:50:00 -
[14]
Originally by: Shadarle My point is that at 1.5% I don't care if 1 trillion ISK is deposited, if you can't make 1.5% on it there is something wrong.
Okay, since I'm one of the loudest directors on this particular issue I should step up to the plate here. It is not that the isk can not be put to use and generate that amount, and possibly more. It is about (r)isk management. Confidence is critical be it a scam or an institution. If Ebank tries to consume vast amounts of isk we run the risks of destroying consumer confidence. We also need time to ensure that (r)isk is properly spread out and utilized in such a way as to reduce temptation or liability. If isk is taken in too quickly we run certain risks that we at Ebank do not feel fits with our process policies. That's all really.
Boycotting Eve Forums - So long and thank you for all the fish. |
Bouncer Ricdic
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Posted - 2008.01.24 03:52:00 -
[15]
Yeh the above as well. We have had some hardcore debates over the last week. I tell people I need lots more isk as demand is super high and they tell me no!
But yeh it's all there to protect you, the consumer. And probably a little bit to drive me nutty
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Astorothe
Aperture Science Industries
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Posted - 2008.01.24 03:53:00 -
[16]
The account cap makes sense - the account cap change only on the 1.5% account makes you look stingy.
Ze logs show NOTHING! ~ Eve Corp and Fansite Web design, development and hosting services
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Kwint Sommer
Incoherent Inc Otaku Invasion
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Posted - 2008.01.24 03:53:00 -
[17]
Originally by: Treelox
I refer you to the title I give these people "lazy lemmings". Seriously Shadarle, you got to interact a bit more with the greater player base more, because there are plenty of people out there who would deposit their 10s of billions in a 1.5% monthly account, just so they didnt have to mess with things at all.
Remeber there are lots of people who go stupid over "big numbers" and fail to think about the ROI. Put 10bil in a 1.5% account and its a 150mil a month, there are sadly many ppl who would be excited about that, if they didnt have to do a thing.
OMG! You "pyramid quoted," expect to be banned!
On a less sad note, I don't think people would be dumb enough to settle for 1.5% interest on a mere 10B but I suspect that if I and most of EvE stumbled upon 1 trillion I would throw it in a checking account at 1.5% interest and live on the not so meager 15B a month. I could loose a mothership every month! I might have to fit them like this but what does it matter if I can just buy another one....
5% Mining & Manufacturing Implants |
Treelox
Amarr Market Jihadist Revolutionary Party
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Posted - 2008.01.24 03:56:00 -
[18]
Originally by: Astorothe The account cap makes sense - the account cap change only on the 1.5% account makes you look stingy.
baby steps....baby steps....
I see nothing saying that they wont in the future raise the cap on the 3% accounts. The are being cautious, maybe overly so, about swallowing more isk that they feel able to deal with in a proper and easy manner. --
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Minerva Vulcan
Caldari The Nexus Foundation Endless Horizon
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Posted - 2008.01.24 04:08:00 -
[19]
Originally by: Astorothe The account cap makes sense - the account cap change only on the 1.5% account makes you look stingy.
If you don't like the service then don't use it. _______________________________ I need new voices in my head, To speak my secret evils with. I need new lovers in my bed, To be my friends and special pets. |
Kwint Sommer
Incoherent Inc Otaku Invasion
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Posted - 2008.01.24 04:18:00 -
[20]
As an investor in Ebank I would like to take a minute to launch into a long rant about the absurdity of placing heavy restrictions on the amount of ISK I can put in 1.5% interest account. Actually forget about the tiny interest rate, what if I want to do multi-billion transactions from my "checking account?" Isn't the whole point of checking account that you store a balance their with the intent of transferring funds around so why limiting my working capital to a billion...yadda, yadda, yadda...rable, rable....
When you actually take a step back and get a little perspective it's good to see that you guys are continuing to make safety and proper management of funds your primary objective, as opposed to growth or raw profits. For those of you that wonder why we follow Ricdic and Hexxx "like lemmings," (as one of you put it) it's because of this attitude more than anything else.
5% Mining & Manufacturing Implants |
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Shadarle
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Posted - 2008.01.24 04:31:00 -
[21]
Originally by: Minerva Vulcan
Originally by: Astorothe The account cap makes sense - the account cap change only on the 1.5% account makes you look stingy.
If you don't like the service then don't use it.
Not quite sure E-Bank would agree with the attitude that if you don't like what they are offering right now then you can go to hell.
But at the same time, if they have too much demand at 1.5% then they'd be idiots to raise the cap on 3% as well.
If the problem is runs on the bank then make a 3rd account at 2% with a 1 week notice required to withdraw the money. The reason people would take 2% over 3% is because you'd allow unlimited deposits at 2% because there would be that 1 week notice required. This prevents runs on the bank a bit.
As to the thing about consumer confidence... if people are willing to give you their money then obviously they have confidence. If you'd get so much money that it would hurt the confidence some have then it seems to be a worthless point, no?
Tanking Setups Compared
Stacking Penalty / Resists Explained |
Minerva Vulcan
Caldari The Nexus Foundation Endless Horizon
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Posted - 2008.01.24 04:35:00 -
[22]
Originally by: Shadarle Not quite sure E-Bank would agree with the attitude that if you don't like what they are offering right now then you can go to hell.
I know that they're trying to provide a service that a lot of people in the EVE community can use.
However, they've also explained about their caps and percentages plenty of times, so I don't see any point in complaining about it.
I know they're open to listening to what customers want to see out of the bank which is good, but when people just say "bigger cap and more interest" all the time it just gets a bit old. _______________________________ I need new voices in my head, To speak my secret evils with. I need new lovers in my bed, To be my friends and special pets. |
Shar Tegral
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Posted - 2008.01.24 04:47:00 -
[23]
Originally by: Shadarle If the problem is runs on the bank then make a 3rd account at 2% with a 1 week notice required to withdraw the money. The reason people would take 2% over 3% is because you'd allow unlimited deposits at 2% because there would be that 1 week notice required. This prevents runs on the bank a bit.
This is one of those things we have debated and argued on. One week's notice is not sufficient when loans are issued that will take months at a time to return in full. You have to remember we have only been operating for a relatively short time and thus we wish to move carefully even at the expense of ire amongst depositors and/or loan officer(s). Originally by: Shadarle As to the thing about consumer confidence... if people are willing to give you their money then obviously they have confidence. If you'd get so much money that it would hurt the confidence some have then it seems to be a worthless point, no?
It doesn't take much more than the mention of Ebank to get trolling started. (Or at least it regularly seems that way.) The last thing we need is to have the ad infinitum (ad nauseum) thread derailment about how I'm (or someother Ebank member) is the super scammer of all time just trying to increase my (our) success. Expanding like crazy is not going to happen and consumer confidence is but one factor. An important one but only one of several. Now, I'm doing my best to answer your questions as bluntly as I may without disclosing internal discussions (arguments). I'm sure if you think about it, from our perspectives, you can easily figure out some sticking points in any expansion that we bicker over. But you'll have to use your imagination as right about here is the line I won't cross. >wink<
Boycotting Eve Forums - So long and thank you for all the fish. |
Ryu Kibegami
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Posted - 2008.01.24 05:02:00 -
[24]
As an Ebank customer, I have mixed feelings about the raised limit in the checking account. First, I agree that I would have prefered the saving account having been the one with a billion ISK balance limit. In my opinion, we who post in the MD forum are here to make money.
On the flip side, I am glad that Ebank is taking prudent steps to protect our investment and themselves. I see this saving increase as a logical controlled step in the right direction. Every move that has been made since its conception has been an expansion that they can control. The big picture shows caution and wisdom balanced with offering clients a resonable return.
For me, I can say every interaction I have had with an Ebank employee or strong supporter has been positive. The open, frank, and friendly attitude. Which is, for me more important than high returns, but then having to deal with a snide, rude, and or condesending entity.
Thus for me, I will continue to plod along with Ebank, and I have trust that in the end, I will get both service and great rates.
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Kwint Sommer
Incoherent Inc Otaku Invasion
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Posted - 2008.01.24 06:00:00 -
[25]
Originally by: Minerva Vulcan
I know they're open to listening to what customers want to see out of the bank which is good, but when people just say "bigger cap and more interest" all the time it just gets a bit old.
That's an interesting point, people constantly asking "more money plz" is quite pointless but I think there's room for serious discussion about bank issued Bonds and CD's that pay a better rate. The CD's lock in the ISK for a fixed period during which the bank can be sure it can safely lend. In the highly unlikely event someone does do an early withdrawal on a CD they would be charged a heavy penalty. In the event of a "run on the bank" in the form of early CD withdrawals the bank could find itself without the cash to pay (that's always a possibility, really) and it will be forced to issue relatively high interest, short-term bonds to MD to raise the cash. However, the early withdrawal fees would cover the cost of the emergency bonds and in the meantime your loans are still bringing in ISK but you no longer have the commitment of the CD's so you would come out ahead. To be honest, I always assumed that's what Ebank would do. I mean investors want higher than 3% and I know at least one of you is itching to issue a lot more loans and invest much more heavily and one of the big things holding you back is the stability of your ISK pool. It just so happens that CD's make everyone happy.
5% Mining & Manufacturing Implants |
Selene D'Celeste
Caldari The D'Celeste Estate
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Posted - 2008.01.24 06:43:00 -
[26]
Originally by: Kwint Sommer It just so happens that CD's make everyone happy.
Rome wasn't built in a day ;)
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Mr Horizontal
Gallente
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Posted - 2008.01.24 10:50:00 -
[27]
Well what we've done is bring the total amount spend in paying interest in line with the savings accounts. You get 500k interest per day on 500m in your savings account. You also get 500k in your checking account on 1b... so net you get in excess of 1m per day for 1.5b. It'd be stupid to suggest EBANK couldn't afford considerably more than this in interest payments (I won't say how much, just considerably more), and yes raising the checking account cap is the cheapest (and consequently the stingiest) way for EBANK to borrow cash, but as you might have guessed, ROI isn't our focus.
It should be pretty clear now that EBANK's focus is to allow you to use your ISK out of game via as many value added methods as possible (though I won't say precisely what so as not to detract from the announcement buzz). It is a bank after all, and we have every intention in being a 'Proper Bank' in any way you might consider, but most importantly the rock solid permanence, trustworthiness and reliability of a good bank. Once we offer all of these services, THEN we'll talk about ROI on excess ISK deposited in EBANK to better return.
But I can guarantee you before this happens you'll be using EBANK as a vessel to make much higher returns before you get the returns you need directly from EBANK.
In the meantime, discussing things like RIPOs and credit ratings will help expedite matters. Discussing about raising caps and rates won't.
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Astorothe
Aperture Science Industries
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Posted - 2008.01.24 12:48:00 -
[28]
I'm looking forward to seeing these services and benefits materialise. At the moment however - this very moment - there's much better things I can do with 1.5 Billion ISK than to give it to you for 2.25% a month :)
Oh - and you guys bought up the topic of caps and %'s in the OP. If you don't want further comments on it, don't mention it - if you do - expect comments on it (pretty straight forward huh).
I like the RIPO idea - but until I see it in action its little more than just that, a good idea. I'm sure you guys can pull it off though. EBank has some unique and promising ideas - so lets see them in the flesh!
Ze logs show NOTHING! ~ Eve Corp and Fansite Web design, development and hosting services
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Astorothe
Aperture Science Industries
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Posted - 2008.01.24 12:52:00 -
[29]
PS - don't take this scrutiny the wrong way - I am a firm supporter of EBank but I call things how I see them. There's never anything vindictive in my thoughts.
Ze logs show NOTHING! ~ Eve Corp and Fansite Web design, development and hosting services
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Shar Tegral
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Posted - 2008.01.24 13:11:00 -
[30]
Originally by: Astorothe PS - don't take this scrutiny the wrong way - I am a firm supporter of EBank but I call things how I see them. There's never anything vindictive in my thoughts.
No worries mate. /me goes looking for the account (mis)management tools. |
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