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TheBankOfEve
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Posted - 2010.08.08 15:43:00 -
[1]
Thebankofeve.com is a new bank standing itself up in New Eden. We're now accepting new accounts and members who would like to bank through us. This can be a good way to set your extra money aside and earn a little extra income on your fortune. We'll also be looking for experienced players who are interested in helping to operate a banking corporation with us as we grow. There is also an investors page for anyone interested in investing in The Bank of Eve.
If you want to know more just post here and I'll try to answer any questions or concerns. You can learn allot about the bank from the website though.
TheBankOfEve.com/
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Ray McCormack
Nordar Innovations.
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Posted - 2010.08.08 15:52:00 -
[2]
Tell us what you know about the history of banking in EVE.
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Ji Sama
Caldari Tash-Murkon Prime Industries manufacturing disaster
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Posted - 2010.08.08 16:06:00 -
[3]
Who are WE?
And by that I mean, who are you main characters?
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Dirk Mortice
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Posted - 2010.08.08 16:22:00 -
[4]
Predicting a good ending to this thread
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Estel Arador
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Posted - 2010.08.08 16:28:00 -
[5]
Posting in a soon-to-be-epic thread.
As for serious discussion, I honestly don't know where to start...
Free jumpclone service|1092 stations! |
Llu
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Posted - 2010.08.08 16:44:00 -
[6]
Quote: Checking accounts are accounts that offer a higher level of liquidity. Checking accounts pay 1.5% interest monthly and allow account holders to make up to 5 withdrawals without any service fee. Any withdrawals past 5 per month will be charged a service fee of 50,000 ISK.
Quote: Savings accounts offer every player a way of increasing they're isk without even having to be online! These accounts are designed for players who are saving for ships, stations and other high value items. Savings accounts pay 3% interest monthly and allow account holders to make up to 5 withdrawals without any service fee. Any withdrawals past 5 per month will be charged a service fee of 250,000 ISK
Why would I bother with a checking account if I can get double interest and still have my 5 withdrawals per month?
Also why do you think 20% of profit would be enough to motivate people to become shareholders? Usually the number would be reversed in favour of the person investing...
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Kalanar
Wrecking Shots -Mostly Harmless-
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Posted - 2010.08.08 17:00:00 -
[7]
Higher service fee on savings accounts, lol.
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Thoraemond
Minmatar Far Ranger
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Posted - 2010.08.08 17:01:00 -
[8]
Originally by: http://www.thebankofeve.com/?p=agreement SECURITY AND MONITORING The Bank of Eve is audited weekly and monitored 24/7 by an email reporting system. At the end of every week multiple members of the board of directors conduct audits of the server corporate logs and makes sure there is no discrepency. All money is secured and backed by The Bank of Eve. No one will ever be denied monies rightfully owed to them.
Please describe:
- the nature of this "email reporting system";
- the composition of the board of directors, and their experience with auditing in EVE;
- the identities of the board members who conducted the most recent audit (according to the website, you started selling shares on 2010-07-26, so at least one audit's been done, right?);
- the results of last week's audit;
- how ISK is "secured" and/or "backed"; and
- the fraction of deposits that you will keep liquid.
á á
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Kalanar
Wrecking Shots -Mostly Harmless-
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Posted - 2010.08.08 17:04:00 -
[9]
SO, sweet deal, I've started an account with 500,000 isk. It'll take 24 hours for my account info to process. I'm excited. Gonna earn the big bucks.
Bahaha.
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Lord Arbalest
Northstar Cabal R.A.G.E
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Posted - 2010.08.08 17:06:00 -
[10]
Have you carried out research on past Banking in EVE? If so, you would have constructed a far more detailed post to ensure you answered as many queries that potential customers here on MD would raise. Which in turn suggests you have done little research/put in little effort resulting in me questioning why I should entrust ISK in anything that has been willy nilly put together?
It would be nice to know who the players are that will be running this 'bank' - once again, information that potential customers would want to know. Who are we going to be entrusting our ISK with? One? Two? Three people?
What security do you have in place? Contingency plans?
Have you made realistic forecasts on a financial side?
I could carry on....
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RAW23
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Posted - 2010.08.08 17:26:00 -
[11]
Originally by: website
COLLATERAL Some loans may require collateral. This will typically apply to higher value loans and long term loans requested by Alliances and Corporations. This also applies to individual players requesting high value loans without a strong banking history.
Ermmm ... this is a troll or scam, right?
You don't require collateral.
You pay out 1.5%-3% interest on deposits, which are neither secured nor even backed by the dubious currency of reputation.
You are asking for investments as well as deposits, without any kind of business plan or indication of NAV.
On the plus side, you're pitching yourselves as competitors to EBANK, which seems about right.
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W3370Pi4
ExoGeni Laboratories
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Posted - 2010.08.08 17:31:00 -
[12]
lol i will invest all my isk i had in my ebank account
ohwait.....
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TheBankOfEve
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Posted - 2010.08.08 18:02:00 -
[13]
Ray McCormack; It would take a good and detailed paragraph or two to describe the history of banking in EVE over the years. There have been failures and what some people might define as success. EBANK had themselves robbed, DBANK offers interest rates that are unreasonable and unsustainable and there have been a few other small start-up banks just like this one who are trying to provide a service to the citizens of New Eden.
Ji Sama; SmashEgo is my main character a simple Indy Miner. Zombie Mike is the corp ceo a simple place holder account made to run the corp. ZeFritz is a miner/pvp player and is partially responsible for auditing. Blastyoazz666 is a miner/pvp player who is responsible for auditing on a mandatory weekly basis and optionally on a daily basis. Bizlady & Bizlab (Wife & Husband) are responsible for auditing as well on a weekly basis and are also responsible for approving or vetoing changes in bank policy. All of the listed members are responsible for conducting themselves in a manner conducive to quality banking and are all members of the board of directors who vote on any changes to the bank policy. All members are 21yrs and up. 2 of these members are active duty USAF who work in finance jobs and handle many large and small transactions on a daily basis for the USAF.
Estel Arador; Our profits are derived from members going over the alloted number of transactions who will be charged a minor penalty for each transaction over the limit. These charges are presented and clearly visible at all times on the website. We also earn profits in the form of collected interest from loans made to individuals, corporations and alliances or selling collateral when someone fails to repay a loan.
Llu; 20% of the profit each and every month will be paid as a dividend to our share holders. This is meant to represent the realistic ownership of shares in a real world environment. If you invest in a company such as google at $300 a share it can take up to 5 years for that share to earn its value. 20% is actually a large percentage of any companies profits considering we need to use the other 80% to continue the growth of the bank itself.
And to answer why you would only create a savings account. There are higher fee's on removing funds from a savings account. We want you to be able to add and withdraw your money whenever you want, its your isk. But a savings account is for someone who plans on adding more than they withdraw and we pay a higher level of interest as a reward for being frugal and saving.
Thoraemond; I'm running out of allowable text in the forums, I'll actually update a page on the site that you can view and post it soon to answer your questions.
Lord Arbalest; I did not wish to post a long and boring post when the website should provide enough information. However because of the large number of questions presented I will be updating the site with more relevant information. And yes, there was allot of research put into this endeavor before launch. Hexxx from EBANK himself has been consulted and is offering advice on how to run a bank in EVE.
RAW23; It's not a scam, and it's less of a competition and more of a "we're offering a service comparable to that of EBANK" with the intention of learning from the failures of other banks and providing an enjoyable, quality, secure banking service. We intend to provide a banking service that is built on a stronger system of checks and balances. And as for collateral, it's needed for anyone wishing to take out a loan, you don't need any just to open a checking or savings account.
This should sum up most of the questions I'v seen so far and I'll continue to answer any more questions that are posted. But also bear in mind that we're also looking for advice and input on how to provide a better banking experience and cater to the needs of our customers.
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Cista2
Hydra Investment Fund
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Posted - 2010.08.08 18:04:00 -
[14]
Edited by: Cista2 on 08/08/2010 18:09:04
There was another thread a few days ago linking to this website - can't find it right now.
Edit (the ceo posted some info just before my post): I admire the determination in preparing this project and lauching it headon on MD.
Since I am interested in aspects of banking in general, I have sent 1 mil isk for a savings account.
To the guys behind the bank: you absolutely need to actively make a profit with the isk in the bank! The money from transfer fees will not be enough to finance the rates on the accounts, and if you plan to give loans to people without collateral, well, then you're dead. ----------------------- "Signatures" chatroom / Hydra Fund / LLSE Stock Market |
Ray McCormack
Nordar Innovations.
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Posted - 2010.08.08 18:16:00 -
[15]
Originally by: TheBankOfEve Ray McCormack; It would take a good and detailed paragraph or two to describe the history of banking in EVE over the years.
That's fine, use all the paragraphs you want, CCP won't run out of space on their forums.
So far you've given a very broad interpretation of the various banking failures EVE has seen (which completely miss the point), but how do you see these influencing your operation?
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Breaker77
Gallente Reclamation Industries
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Posted - 2010.08.08 18:23:00 -
[16]
Originally by: TheBankOfEve Ray McCormack; It would take a good and detailed paragraph or two to describe the history of banking in EVE over the years. There have been failures and what some people might define as success. EBANK had themselves robbed, DBANK offers interest rates that are unreasonable and unsustainable
1. Go back and do your research for at least another year
2. DBank kept all the ISK well over a year ago when their database crashed, it has been dead since then.
3. EBank has hundreds of billions in unsecured loans that will never be repaid. On top of that Ricdic walked with a couple hundred billion and RMTed it. It has been trying to recover ever since, but trying to recover a few hundred billion isn't going to happen anytime soonÖ.
4. Every single person who has access to depositors ISK must be known! Right now for all we know Riethe is running this whole operation.
TLDR; You know nothing about banking in EVE.
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RAW23
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Posted - 2010.08.08 18:26:00 -
[17]
Originally by: TheBankOfEve We intend to provide a banking service that is built on a stronger system of checks and balances. And as for collateral, it's needed for anyone wishing to take out a loan, you don't need any just to open a checking or savings account.
Well, collateral for loans is a good start. You might want to amend the relevant paragraph on your site, though, as it says something rather different.
A couple of extra questions for you:
How much isk have your directors previously handled ingame?
Do any of you have a public track record (I can't find any posts on eve-search)? If not, how are depositors/investors meant to be able to distinguish this from a scam other than on the basis of your word?
ps. The EBANK comment was a joke. Saying that "we're offering a service comparable to that of EBANK" is probably not the best approach to marketing you could take as it is questionable whether EBANK was ever a successful venture even before getting ripped off by Ricdic.
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TheBankOfEve
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Posted - 2010.08.08 18:27:00 -
[18]
Cista2; In regards to "one man scam". The website itself is managed by one person because of the lack of web editing skill by any other member of the bank or board. I will update the website with a page detailing each member of the board.
It can be overwhelming though when launching something of this magnitude and I apologize if there is still a shortage of relevant information on the website. I will try and get that information up as soon as I can. Currently I'm at work though. This thread will hopefully bring to light all the questions everyone has and I can make sure it is all presented quickly and in a very organized manner.
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Ji Sama
Caldari Tash-Murkon Prime Industries manufacturing disaster
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Posted - 2010.08.08 18:31:00 -
[19]
Alright lets do this!
Eve Search: SmashEgo Eve Gate: SmashEgo
Eve Search: Zombie Mike Eve Gate: Zombie Mike
Not looking good so far! All characters are less than a month old! Ergo you are a totally new player, or simply lying about who your main character is.
There are no character named ZeFritz Eve Search Eve Gate
Eve Search: Blastyoazz666 Eve Gate: Blastyoazz666
Here we at least have a character with some posting history!
Possible alts: blastyosister blastfromhel
Eve Search: Bizlady Eve Gate: Bizlady Eve Search: Bizlab Eve Gate: Bizlab
So what did I get from your list of names? One character that looks like a main, but could just as well be a mining alt!
And 5 characters that have a very high chance of being alts.
So I will ask again, who is your main character?
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Ray McCormack
Nordar Innovations.
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Posted - 2010.08.08 18:55:00 -
[20]
Originally by: Breaker77 2. DBank kept all the ISK well over a year ago when their database crashed, it has been dead since then.
3. EBank has hundreds of billions in unsecured loans that will never be repaid. On top of that Ricdic walked with a couple hundred billion and RMTed it. It has been trying to recover ever since, but trying to recover a few hundred billion isn't going to happen anytime soonÖ.
Seems you also need to finalise some of your research.
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TheBankOfEve
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Posted - 2010.08.08 18:58:00 -
[21]
Edited by: TheBankOfEve on 08/08/2010 19:02:21 My main is less than a month old due to the fact that I played Eve religiously prior to joining the air force. 2 Years in the air force and I've finally landed a job that is more relaxing and stress free and allowed me the time to play eve again. I do not know my old account information and because of a jealous ex probably don't even own the email it was linked to anymore either. You would be right about the age of my character being a month old. It's actually 2 months old, but my experience is not just that of someone who has only played for 1-2 months.
Id also like to think that my experience handling many financial transactions on a daily basis for the air force would give me some solid standing to manage Eve ISK.
EDIT: Ray; We don't plan on issuing large unsecured loans for that very reason. It's our job to not only make a profit from the capital we're entrusted with but also to prevent losses as well. We are all heavily invested in this bank ourselves and it's in our best interest and our customers to provide the best banking experience that we can.
Blast also has several accounts he has developed over the years, but because he has a son he recently had come back into his life he has cancelled his subscription on prior accounts and is now focusing on his newest account.
Also I don't know why Zefritz isn't showing up for you. It's roughly as old as my account is and he is someone I work with in finance and fell in love with Eve the first time I showed it to him. He is a newer player but very familiar with finance and banking.
As for the biz's they are a husband/wife couple. They are a military family, though bizlab is an army Sergeant. All members of the bank are responsible people put in a position of trust within the government or companies.
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Breaker77
Gallente Reclamation Industries
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Posted - 2010.08.08 19:00:00 -
[22]
Originally by: Ray McCormack
Originally by: Breaker77 It has been trying to recover ever since, however no one running it has any idea what they are doing. /finger
Seems you also need to finalise some of your research.
Better now?
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Breaker77
Gallente Reclamation Industries
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Posted - 2010.08.08 19:03:00 -
[23]
Originally by: TheBankOfEve All members of the bank are responsible people put in a position of trust within the government or companies.
The people running Enron were in a position of trust in a large company. Look how well that turned out.
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Ji Sama
Caldari Tash-Murkon Prime Industries manufacturing disaster
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Posted - 2010.08.08 19:05:00 -
[24]
Originally by: TheBankOfEve My main is less than a month old due to the fact that I played Eve religiously prior to joining the air force. 2 Years in the air force and I've finally landed a job that is more relaxing and stress free and allowed me the time to play eve again. I do not know my old account information and because of a jealous ex probably don't even own the email it was linked to anymore either. You would be right about the age of my character being a month old. It's actually 2 months old, but my experience is not just that of someone who has only played for 1-2 months.
Id also like to think that my experience handling many financial transactions on a daily basis for the air force would give me some solid standing to manage Eve ISK.
Blast also has several accounts he has developed over the years, but because he has a son he recently had come back into his life he has cancelled his subscription on prior accounts and is now focusing on his newest account.
Also I don't know why Zefritz isn't showing up for you. It's roughly as old as my account is and he is someone I work with in finance and fell in love with Eve the first time I showed it to him. He is a newer player but very familiar with finance and banking.
As for the biz's they are a husband/wife couple. They are a military family, though bizlab is an army Sergeant. All members of the bank are responsible people put in a position of trust within the government or companies.
What is the name of your old main character?
SmashEgo is from 2010.06.30 so he is around 40 days old, Zombie Mike is from 2010.07.17 so he is around 21 days old, TheBankOfEve is from 2010.07.26 and that makes him around 14 days old! None of your characters is 2 months old!
Considering you say you have years of experience, I would find it hard to believe that you cant recall the name of your original character!
The Biz family, are clearly alt characters!
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RAW23
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Posted - 2010.08.08 19:08:00 -
[25]
Originally by: TheBankOfEve military backgrounds
Can you offer anything that can actually be substantiated? Obviously, any scammer could say exactly the same things and as such, these claims do not carry any value.
When you say you are all heavily invested in the bank, can you tell us exactly how much (potential investors need to know this)?
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TheBankOfEve
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Posted - 2010.08.08 19:20:00 -
[26]
Originally by: Breaker77
Originally by: TheBankOfEve All members of the bank are responsible people put in a position of trust within the government or companies.
The people running Enron were in a position of trust in a large company. Look how well that turned out.
Enron was run without any real auditing by any major branch of the federal government. EBANK suffered the same effect of being allowed to run without real audits preformed by anyone with knowledge of the banking or financial industry.
When any account change has been made by anyone allowed access to the bank it is automatically recorded and an email is sent to each members email account. Every action is public to every member of the board and because we all have a vested interest in the wellbeing of the bank we all keep a close eye on the movement of money.
As we grow we would also like to allow more people access to our logs and allow outside auditing as a further countermeasure. One thing disappointing here is that I'm seeing allot of critics and not a single post with suggestions on how we can improve The Bank of Eve.
We all know other banks have failed and I'd like to give props to EBANK for at least trying to save the bank. I think that should be considered more of a success than a loss because at least they're trying to redeem themselves.
We're committed to preventing another disaster like EBANK, and hopefully in time we'll have earned New Edens trust in our commitment to service. Tell us what you think we can do better and if you'd like to get involved with The Bank of Eve we'd love to see supporters and take advice.
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Ji Sama
Caldari Tash-Murkon Prime Industries manufacturing disaster
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Posted - 2010.08.08 19:32:00 -
[27]
Quote: One thing disappointing here is that I'm seeing allot of critics and not a single post with suggestions on how we can improve The Bank of Eve.
Pro-Tip: It will get much, much worse before it gets better.
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TheBankOfEve
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Posted - 2010.08.08 19:35:00 -
[28]
Originally by: RAW23
Originally by: TheBankOfEve military backgrounds
Can you offer anything that can actually be substantiated? Obviously, any scammer could say exactly the same things and as such, these claims do not carry any value.
When you say you are all heavily invested in the bank, can you tell us exactly how much (potential investors need to know this)?
I'll post a link to a picture of me in uniform and then you can look up the public ICCAN record for the .com owner of thebankofeve.com that way you can see that my nametape matches the public record of ownership for the site and see that I am military and that the picture actually matches the record.
And in terms of investment, I'm investing my credibility and ISK. My credibility is at stake because again, you can look up the ICCAN registry and see my full name and probably address. Everyone else has invested ISK upwards of 2 Billion total to cover loans and any losses on loans.
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Breaker77
Gallente Reclamation Industries
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Posted - 2010.08.08 19:38:00 -
[29]
Originally by: TheBankOfEve
I'll post a link to a picture of me in uniform
I have a full set of BDUs with my name patch and everything on them. I've never been in the military but maybe now I can just link a pic of it and guarantee 100% that I'm in the military.
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Ray McCormack
Nordar Innovations.
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Posted - 2010.08.08 19:43:00 -
[30]
Originally by: Breaker77 Better now?
Not really. You can hide behind lolbank bashing if you want, but it doesn't change the fact your recounting of history is as far off as the OPs.
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