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EBANK Deposits back online - Please read for new deposit instructions

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Hexxx Minmatar	Posted - 2009.06.11 13:26:00 - [1] Ok... We have now linked the EBANK Corporation (called "Eve-Tech Savings n Loans") to our deposits. Please visit the EBANK channel in-game (just "ebank") for the instructions and up-to-date news and alerts on EBANK. If you want to deposit or create a new account, visit the EBANK channel in the future. The Corporation is linked within the MOTD and it's a simple right-click to deposit money. Our deposits are read once per hour and withdraws are still being processed within our SLA of 48 hours (most have been much less than that). EBANK continues to be very solvent and we have no current liquidity issue. We thank our customers for their support during this transitional time and we'll be providing updates in the coming week or two on our long term plans. That's it, thank you. EBANK - Chairman of the Board \| www.eve-bank.net
Siigari Kitawa Gallente The Aduro Protocol	Posted - 2009.06.11 13:27:00 - [2] Yay. :) www.siigarikitawa.com ò www.quafeultra.com ò Buy a GTC
Proton Power Amarr Relentless Construction	Posted - 2009.06.11 13:32:00 - [3] Glad to see things are getting back on track and the good communication.
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 13:36:00 - [4] great ill deposit a couple of billions since my ebank account was emptied. not because of falcon, but because of the interest... so to show my faith and support, putting some ISKies in there, that wont be going to the checking account, but stay in the sweeping account untill the bank is up on its feet again. i would also extend this "mustering cry" to all small time investors and md'ers alike. deposit isk now to the sweeping account, and show EBANK that we still trust them, and we want them to remain where they are! Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Azerath Brotherhood of Suicidal Priests KIA Alliance	Posted - 2009.06.11 13:39:00 - [5] Good to see things getting back on track :) --------------------------------------------
Archon Megalon	Posted - 2009.06.11 13:51:00 - [6] Let me get this straight. EBank tells PP we don't want to post this on MD right now. PP Makes the Post. EBank argue's that MD is not a good source for information and that they posted in many other places. EBank opens up for more isk and make the post in MD. Just does not seem right to me.
Saehta Sigillum Militum Xpisti Novus Ordo Mundi	Posted - 2009.06.11 13:53:00 - [7] Originally by: Ji Sama great ill deposit a couple of billions since my ebank account was emptied. not because of falcon, but because of the interest... so to show my faith and support, putting some ISKies in there, that wont be going to the checking account, but stay in the sweeping account untill the bank is up on its feet again. i would also extend this "mustering cry" to all small time investors and md'ers alike. deposit isk now to the sweeping account, and show EBANK that we still trust them, and we want them to remain where they are! Why anyone would put money into a 0% interest account is beyond me. If EBANk wants help with funds they can launch a bond or IPO offer
Vaerah Vahrokha Minmatar Dark-Rising	Posted - 2009.06.11 13:54:00 - [8] Originally by: Archon Megalon Let me get this straight. EBank tells PP we don't want to post this on MD right now. PP Makes the Post. EBank argue's that MD is not a good source for information and that they posted in many other places. EBank opens up for more isk and make the post in MD. Just does not seem right to me. Life is not linear.
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 13:56:00 - [9] Originally by: Saehta Originally by: Ji Sama great ill deposit a couple of billions since my ebank account was emptied. not because of falcon, but because of the interest... so to show my faith and support, putting some ISKies in there, that wont be going to the checking account, but stay in the sweeping account untill the bank is up on its feet again. i would also extend this "mustering cry" to all small time investors and md'ers alike. deposit isk now to the sweeping account, and show EBANK that we still trust them, and we want them to remain where they are! Why anyone would put money into a 0% interest account is beyond me. If EBANk wants help with funds they can launch a bond or IPO offer I SAID IT PRETTY CLEARLY IMO; BUT ILL WRITE IN CAPS IF THAT HELPS: DEPOSIT @ SUPPORT... mkay Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2009.06.11 13:56:00 - [10] Basically this whole situation has simply wiped out all the profit EBANK has ever made though while it's an enormous amount, EBANK is also gigantic, and the loss only represents between 15 and 18% NAV (we're still crunching the numbers). The thing about EBANK is the longer it lasts making profit, the safer it gets, so while we don't have the safety nets we used to (meaning things like loans will be provided far more conservatively), I can't see any reason for EBANK not to survive... in fact in a twisted sense, this has given such a collective kick up the backside that it's ironically a good thing. It's Business as Usual at EBANK Director \| www.eve-bank.net
Vaerah Vahrokha Minmatar Dark-Rising	Posted - 2009.06.11 13:56:00 - [11] Quote: Why anyone would put money into a 0% interest account is beyond me. If EBANk wants help with funds they can launch a bond or IPO offer It's > than 0, thus people unwilling to actively invest money and manage it can have a small payback just for letting their money sitting in an account. It's like in real life. The big majority lacks the time, skill, committment, knowledge to make their money earn them more money, so they deposit their savings in a bank.
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 13:59:00 - [12] Originally by: Vaerah Vahrokha Quote: Why anyone would put money into a 0% interest account is beyond me. If EBANk wants help with funds they can launch a bond or IPO offer It's > than 0, thus people unwilling to actively invest money and manage it can have a small payback just for letting their money sitting in an account. It's like in real life. The big majority lacks the time, skill, committment, knowledge to make their money earn them more money, so they deposit their savings in a bank. you read it wrong VV.... :D He is talking about why you should let the ISK stay in the sweep account @ o% as i suggested! Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 14:01:00 - [13] Originally by: Mr Horizontal SNIP this has given such a collective kick up the backside that it's ironically a good thing. It's Business as Usual at EBANK this tbh, and i also think alot of customers will KEEP comming fourth to show support.. if you play this right, you will turn it into a WIN imo! Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 14:01:00 - [14] Originally by: Mr Horizontal SNIP this has given such a collective kick up the backside that it's ironically a good thing. It's Business as Usual at EBANK this tbh, and i also think alot of customers will KEEP comming fourth to show support.. if you play this right, you will turn it into a WIN imo! Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 14:02:00 - [15] double post mybad Quote: "Lecherito on Market Discussion: Though I have to go down on the record as saying that I'm convinced the majority of the MD community is ******ed"
Saehta Sigillum Militum Xpisti Novus Ordo Mundi	Posted - 2009.06.11 14:03:00 - [16] Originally by: Vaerah Vahrokha Quote: Why anyone would put money into a 0% interest account is beyond me. If EBANk wants help with funds they can launch a bond or IPO offer It's > than 0, thus people unwilling to actively invest money and manage it can have a small payback just for letting their money sitting in an account. It's like in real life. The big majority lacks the time, skill, committment, knowledge to make their money earn them more money, so they deposit their savings in a bank. As Ji stated, the sweeping account is 0%. I'll show trust in them by buying shares or bonds they list. Might even consider a CD but no, I will not hold money in the sweeping account to 'show support'
Ji Sama Caldari Tash-Murkon Prime Industries Sex Drugs And Rock'N'Roll	Posted - 2009.06.11 14:07:00 - [17] i wasnt suggesting ANYONE should go against their will... dont know where you got that from.
Kazzac Elentria	Posted - 2009.06.11 14:09:00 - [18] sweep accounts are usefull for myself where I want to have shared funds, but never actually have those people in my corporation let alone access to the wallet divisions. Its useful in a customer seller relationship where essentially Ebank acts as the proxy
EBANK SencneS Eve-Tech Savings n Loans	Posted - 2009.06.11 14:15:00 - [19] We choose to go with Corp over a character for so many reasons. Originally a character was chosen due to the fact that Corp API was flaky at the time of implementation. Corp API offers something that a Character can't... API even if a person is banned, CCP can't ban a corporation so deposits and tracking will remain no matter what happens to an individual. More importantly we get the ISK. Although the risk is similar when coming to using a Corp wallet it also allows for a rolling real time audit to happen. As ISK is moved in and out of the master wallet by a small few in-game directors, the tellers will be given general view access to the wallets. If they see something unusual prevention can be initiated much faster. In Ricdic's own admission he was milking the Deposit Character for a week, we're hoping that a corp deposit will raise the flags a lot sooner. As a teller myself I will be monitoring this, only because I like to see all the zeros.. :) We have not worked out if we are going to continue to process withdrawals via the character or via a corporation wallet assigned to each teller. This is where I would like some opinions on the following. 1) Continue to transfer ISK from the deposit location to the tellers personal wallet, and process withdrawals from there. 2) Change it to a central corporate wallet in which a Director transfers ISK and ALL tellers process withdrawals from that separate wallet. 3) Assign individual wallets to each teller and have the Director transfer ISK as needed. Somethings to consider. Each Teller gets between 25b and 30b at a time. At the moment there are 3 full time tellers. A MAJOR delay in withdrawals happens when quiet simply too much for a teller to handle. For the most part tellers get topped up every day, so it's not unusual to run out of ISK and have to request more, and in the mean time have more withdrawals to process. Personal thoughts. 1) The current system is a little clumsy, although it works I'd rather have the corp handle my ISK teller ISK, that way everyone can see everyones wallet. This would pretty much cut the MSN chats of "How much ISK do you have? Can you process this?" Etc. 2) I'm 50/50 on a central teller wallet or a individual wallet. On one hand a central wallet would have to be larger, but too much larger, maybe go from 30b max to 60b max. This would free up more ISK for EBANK, and the Directors top up the one wallet daily. On the other hand a larger amount of ISK could make someone run with a little more then before. One drawback to individual wallets is we're limited. Master Wallet would be locked for deposits. Wallet 2 would be loan wallet Wallet 3 would be payroll and ISK reserves Wallet 4-7 could be tellers. This limits us to pretty much 4 tellers unless we share wallets in which case we're stuck in the same boat as before. So please give us your opinions, what would make YOU feel more comfortable if you had to choose?
Saehta Sigillum Militum Xpisti Novus Ordo Mundi	Posted - 2009.06.11 14:15:00 - [20] Originally by: Ji Sama i wasnt suggesting ANYONE should go against their will... dont know where you got that from. And I didnt state you were forcing anyone to. You gave your opinion that people should give free loans to ebank for support and I questioned why anyone would do that. You can be a fanboy of ebank, idc
Cordele Gemini Technologies	Posted - 2009.06.11 14:24:00 - [21] Originally by: Mr Horizontal It's Business as Usual at EBANK Great. So presumably this means you will be continuing with the enormous unsecured loans to your alliance, as usual?
Saehta Sigillum Militum Xpisti Novus Ordo Mundi	Posted - 2009.06.11 14:31:00 - [22] Originally by: Cordele Originally by: Mr Horizontal It's Business as Usual at EBANK Great. So presumably this means you will be continuing with the enormous unsecured loans to your alliance, as usual? It's not the corps fault blah blah
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2009.06.11 14:37:00 - [23] Edited by: Mr Horizontal on 11/06/2009 14:37:55 Originally by: Saehta As Ji stated, the sweeping account is 0%. I'll show trust in them by buying shares or bonds they list. Might even consider a CD but no, I will not hold money in the sweeping account to 'show support' Saehta, the sweep account is just a default account that every customer has where your deposit will appear. It's there so you still have access to your ISK if you send more than the 6b you can deposit into your checking account, and for the EBANK system to be able to send money to without asking lots of tedious questions. You still have a Checking account that is still paying 1.54% compounded interest with a maximum 6b deposit. EDIT: Yes, temporarily interest payments were turned off, but they're on again too in case there's any confusion.
Saehta Sigillum Militum Xpisti Novus Ordo Mundi	Posted - 2009.06.11 14:42:00 - [24] Originally by: Mr Horizontal Edited by: Mr Horizontal on 11/06/2009 14:37:55 Saehta, the sweep account is just a default account that every customer has where your deposit will appear. It's there so you still have access to your ISK if you send more than the 6b you can deposit into your checking account, and for the EBANK system to be able to send money to without asking lots of tedious questions. You still have a Checking account that is still paying 1.54% compounded interest with a maximum 6b deposit. EDIT: Yes, temporarily interest payments were turned off, but they're on again too in case there's any confusion. Missing the point but it was mentioned that the sweep account has the benifit of being accessed by more than one individual so that slightly answered my point.
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2009.06.11 14:43:00 - [25] Originally by: Saehta Originally by: Mr Horizontal Edited by: Mr Horizontal on 11/06/2009 14:37:55 Saehta, the sweep account is just a default account that every customer has where your deposit will appear. It's there so you still have access to your ISK if you send more than the 6b you can deposit into your checking account, and for the EBANK system to be able to send money to without asking lots of tedious questions. You still have a Checking account that is still paying 1.54% compounded interest with a maximum 6b deposit. EDIT: Yes, temporarily interest payments were turned off, but they're on again too in case there's any confusion. Missing the point but it was mentioned that the sweep account has the benifit of being accessed by more than one individual so that slightly answered my point. That'd be a Shared account. Sweep accounts are your own and only yours.
Saehta Sigillum Militum Xpisti Novus Ordo Mundi	Posted - 2009.06.11 14:45:00 - [26] I must have either misinterpreted Kazz post or he was confused. Irregardless, it's not an account I would hold money in
Kazzac Elentria	Posted - 2009.06.11 14:47:00 - [27] Originally by: Mr Horizontal That'd be a Shared account. Sweep accounts are your own and only yours. Brain fart moment.. mussing around with Ulcese system and the 0% accounts there are called sweeps and can initiate interesting wire transfers between two/three, etc.. anyway enough thread jacking. My vote is to keep the distributed system, it requires that as you grow the amount distributed to any one individual never increases beyond any proportion that makes walking away likely. Sure.. it adds overhead, but we're not talking about shaving a few m3 of trit off the end run here.
EBANK SencneS Eve-Tech Savings n Loans	Posted - 2009.06.11 14:51:00 - [28] Originally by: Kazzac Elentria My vote is to keep the distributed system, it requires that as you grow the amount distributed to any one individual never increases beyond any proportion that makes walking away likely. Sure.. it adds overhead, but we're not talking about shaving a few m3 of trit off the end run here. Current as in each individual receives ISK from the master wallet into their personal wallet? Or would you rather see locked down corp wallets in which say I would have my own Corp Wallet where ISK is sent for tellering?
Tekota	Posted - 2009.06.11 14:59:00 - [29] Originally by: EBANK SencneS So please give us your opinions, what would make YOU feel more comfortable if you had to choose? Honestly? Don't care really. Correct me if I'm wrong, but we're talking about risk mitigation of a teller running off into the sunset with the cash? As far as I see here the risk is the same now as it was before, known and managed to eg. 25 bill or so. I suspect the risk of substantial losses is as has been shown in this case, with the directors (not to say they're more untrustworthy than the tellers, just bigger potential sums available to them = bigger risk). So risk management of teller funds doesn't really worry me today any more than yesterday. And lets be fair, EBank could say they're doing anything and everything but it still comes down to trust. I'm not really a fan of audits by "MD trusted individuals" because as we've seen over time all can be tempted, MD seems to be littered with stories of trusted person X or Y seeing dollar signs flash in front of their eyes. For the purposes of full disclosure: I've put back into EBank this morning a few millions; never fly a more expensive chequebook than you can afford to lose
Kazzac Elentria	Posted - 2009.06.11 15:10:00 - [30] Originally by: EBANK SencneS Originally by: Kazzac Elentria My vote is to keep the distributed system, it requires that as you grow the amount distributed to any one individual never increases beyond any proportion that makes walking away likely. Sure.. it adds overhead, but we're not talking about shaving a few m3 of trit off the end run here. Current as in each individual receives ISK from the master wallet into their personal wallet? Or would you rather see locked down corp wallets in which say I would have my own Corp Wallet where ISK is sent for tellering? Sounds weird I know, but I would prefer personal wallets stay. Well personal or alt corp wallets whatever works out easier for the person. Either way the teller has to have access to the funds, so think of each teller like a cashier at a retail store and has responsibility of their own drawer. Each day their drawer is balanced to a certain amount and each day they are responsible for balancing that drawer to whatever amount. So long as the drawer is in that persons possession no one else has any chance of ever taking anything in that drawer. Move to a more centralized setup and you run the risk of having one or a few limited people..walk off with the bank as you were. I would also suggest you move towards a more distributed collateral system, as it sounds that if he was highly motivated enough, Ric could have walked off with another 400b in assets and only didn't because he knew he would be unable to fence them fast enough before the banhammer came in.

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