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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.12.24 06:57:00 -
[1]
 Originally by: Ufl
Originally by: Balogh
Edited by: Balogh on 24/12/2007 01:20:46
Originally by: Ufl
Quote:
Quote:
NuBank Guarantees 100% fund availability 24/7 for full withdrawal without any fees. NuBank does not charge withdrawal fees, and is the only bank to offer full fund availability to its customers.
What exactly is 'full fund availability'?
Full Fund Availability: You can withdraw 100% of your deposited ISK 24/7/365 without any withdrawal fees.
Do you mean one can request a withdrawal at any time, or do you mean the withdrawal is executed within a certain time?
If you meant withdrawal requests at any time, then NuBank is not the only bank to offer that, in contrast to what you stated.
EBANK also allows requesting a withdrawal at any time. Even RESX, which isn't a bank, has a similar withdrawal request system. I don't know what the withdrawal procedure is for Fury Bank.
If you meant executing withdrawals before a certain time span, please be more specific. '24/7/365' doesn't indicate how fast withdrawals are executed.
Ill KISS it for ya:
If all NUEX customers were to execute a 100% withdrawal of all funds on the same day at the same time, all funds would be fully available.
If this were to happen to other banks or exchanges they would not have 100% of all deposited funds available for withdrawal, 24 hours of a day, 7 days a week, 365 days a year - with no withdrawal fee.
24/7? So you're constantly online and can send ISK during down-time? Impressive.
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.12.24 07:01:00 -
[2]
Originally by: Ufl
Edited by: Ufl on 24/12/2007 03:06:47
Our 1% transaction fee will be more than enough from active trading to cover interest.
There is a likely chance most NuBank members will subscribe for trading as well.
You realise that for a 1% transaction fee to cover a 3.5% rate of interest you need to have transactions totalling 3.5 times the amount of interest-earning funds each month?
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.12.24 07:09:00 -
[3]
Originally by: Ufl
NuBank stands out from other banks in its high interest yield - and availability of funds.
You're wrong on both counts.
For availability of funds I suspect EBank is top - due to them having more than 1 person who can process withdrawals.
For high interest you're a country mile behind Fury Bank.
Fury Bank has two types of accounts - High Interest and Current.
Current can withdraw their whole balance any time I'm online. At the moment there's only about 24 billion in current accounts - and I could pay all of that out instantly (Fury keeps a cash reserve of around 20 billion - currently it's actually nearer 30 billion). That's 24 billion earning about 6% per month with immediate access.
High Interest Accounts earn even more (nearly 8% per month) but have to give a week's notice for withdrawal. To date all HIA withdrawals have, however, been paid out immediately (other than those who WANTED to wait a week). HIAs aren't currently available (as Fury Bank's current limit of 100 billion in them has been reached) and there's already a waiting list for the next ones - so any sizable "run" on the bank could easily be funded by allowing new depositors to cover the withdrawals.
It's very clear you have no idea how either of EBank or Fury Bank work - or what they offer.
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