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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.08.11 08:04:00 -
[1]
This is in response to a few queries in this thread
If we opened up savings again tomorrow we would be hitting 1.5 trillion easily by the end of the year. Current checking accounts are bringing in isk almost perfectly in line with our growth and utilisation of said isk.
We want to make sure we have cash utilised before any large expansions. Our existing customers wanting to get a savings account may not like it however it is in their best interests.
If our goal was to simply raise as much isk as possible we would just release savings accounts and higher but it isn't. Our core responsibilities are to effectively and safely manage our customers funds.
Regarding removing existing savings accounts. We have had some discussions on this but the general consensus is that we would prefer to grandfather them if anything (restrict any further deposits to them) rather than force people off them. So if any changes occur with savings (it's a big if) it is far more likely to simply be us disallowing any further deposits.
There are plenty of other reasons why we aren't currently opening them back up. Restricting our growth to levels we can handle is one important one. Liquidity is another (needing higher levels of cash on hand to handle larger withdrawal amounts and higher account balances).
Also compound interest on a 3% account can make it have a higher interest return than some people think. This interest calculator gives people an idea on what we are referring too.
As to the claims of salaries and special internal accounts I can advise on the following:
1) Our salaries are all relatively low. For example for our first year of operation I was paid a total of 1.5 billion isk in salaries. Bonuses etc weren't counted as they haven't been considered yet. Our staff mostly work for EBANK because they enjoy doing so, there are no big payouts being recieved by our staff.
2) There are no specialised staff accounts. All staff get precisely the same interest rates as non staff.
The only exception to this rule are staff loans. Staff loans are generally provided a little lower than industry standards (in terms of interest rates) however they always meet or exceed our 5% investment/loan minimum threshold. That's the only staff discount we have and has only been taken up by a few people in quite small amounts.
I hope this helps people understand where we are coming from. Savings account limits are there for customer and bank protection.
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Vhaluus
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Posted - 2008.08.11 08:22:00 -
[2]
Edited by: Vhaluus on 11/08/2008 08:23:36
I would suggest that the board reconsider grandfathering over varied interest rates. Give me ONE logical reason why grandfathering is superior.
All you are doing with grandfathering is alienating customers. I for one withdrew all my money from EBank after learning that I could not gain a savings account because essentially what it meant was that you could pay me a lower interest while still being able to use my money to make the isk to pay those who happened to have an account longer.
edit: also if you want to offer stable, set returns then I recommend you start up a bond. A bank does NOT offer stable set returns on such a global level.
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Ambo
Dirty Deeds Corp.
Axiom Empire
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Posted - 2008.08.11 09:28:00 -
[3]
 Originally by: EBANK Ricdic
Also compound interest on a 3% account can make it have a higher interest return than some people think. This interest calculator gives people an idea on what we are referring too.
hmm.. not really. If I deposit some isk and just leave it there collecting interest then a month after I deposit my cash, I'll have 3% more. Simple enough.
A year later I will have slightly over 45% more. That's 3.7% per month. Not exactly an earth shattering difference and this assumes I don't touch it and nothing happens to ebank fro a whole year. Given recent events I'm less keen than ever on long-term investments.
Anyway, I agree with your approach to savings accounts. It's just like the dutch auctions that are so popular atm. Why offer a higher rate if you're getting everything you need at a lower rate?
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Trader? Investor? Just want to track your finances? Check out EMMA |
EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.08.11 10:13:00 -
[4]
Edited by: EBANK Ricdic on 11/08/2008 10:14:16
Originally by: Ambo
That's 3.7% per month. Not exactly an earth shattering difference and this assumes I don't touch it and nothing happens to ebank fro a whole year.
Now count it for two years. Then consider that we are:
1) Beating FIN rates
2) Competing with if not beating BMBE rates
In both of the above cases people have had to hold onto their shares for the two year period and EBANK have never wanted to compete with public corporations. We need to have large sums of cash on hand and not utilised in order to action withdrawals. We can't utilise the whole amount of funds on hand.
Still growth control really is a big factor in this. The 3% accounts fill up like hotcakes when they are opened and we simply aren't comfortable handling such a large liquid isk injection in what will be a short timeframe. Now, if savings accounts had delayed withdrawal periods this may be a different story but again this is forcing negative modifications on existing account holders.
Existing account holders may be at a slight advantage here at the moment however anyone could have had a savings account from the start. We have always had our news section advising that a simple 0.1 isk deposit would start your account and secure a savings account, and we have always made it clear to everyone (even in our T&C) that these would only be made available at certain Phase levels.
EBANK cannot be blamed for trying to ensure stability and security within the corporation. It may sound like a PR spin but it honestly isn't. In the past 7 days over 100 billion isk was deposited into EBANK. In that same 7 days only 30 billion isk was withdrawn.
A good portion of this isk is being deposited into Checking accounts. Reopen savings accounts and I am willing to bet that the next 7 day period would show closer to 200-300 billion isk being deposited which we simply cannot handle.
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Kwint Sommer
Caldari
XERCORE
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Posted - 2008.08.11 10:45:00 -
[5]
Originally by: EBANK Ricdic
Edited by: EBANK Ricdic on 11/08/2008 10:14:16
Originally by: Ambo
That's 3.7% per month. Not exactly an earth shattering difference and this assumes I don't touch it and nothing happens to ebank fro a whole year.
Now count it for two years. Then consider that we are:
1) Beating FIN rates
2) Competing with if not beating BMBE rates
In both of the above cases people have had to hold onto their shares for the two year period and EBANK have never wanted to compete with public corporations.
EBANK pays 3% monthly but compounded daily.
Without reinvestment: 3%*24=72% over 2 years
With monthly withdrawal of interest: 0.001^30*24=73% over 2 years
With full reinvestment, aka no withdrawls: 1.001^730-1=107% over 2 years
FIN pays 4% monthly.
With monthly withdrawal, aka no reinvestment: 4%*24=96% over 2 years
With full reinvestment: 1.04^24-1=156% over 2 years
When you compare apples to apples EBANK does not beat FIN. It's only when you compare not touching your money in EBANK for two years to pocketing all of the dividends from FIN that EBANK wins. That said, it does win by a healthy margin.
Quote:
In the past 7 days over 100 billion isk was deposited into EBANK. In that same 7 days only 30 billion isk was withdrawn.
 Man, you guys really are on your way to being a central bank. Congrads, I think....
Purchasing and Shipping Moon Minerals |
Shar Tegral
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Posted - 2008.08.11 10:52:00 -
[6]
I'm not going to say much more than this is one of those things that I felt should have been fixed long ago.
One of many little holes and oversights.
I think Ebank is going to be as proactive as CCP. Until someone abuses or exploits these holes (Which I can't bring myself to do mind you) they won't wake themselves up from their slumber of superiority.
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
Kwint Sommer
Caldari
XERCORE
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Posted - 2008.08.11 11:02:00 -
[7]
Originally by: Shar Tegral
I'm not going to say much more than this is one of those things that I felt should have been fixed long ago.
One of many little holes and oversights.
I think Ebank is going to be as proactive as CCP. Until someone abuses or exploits these holes (Which I can't bring myself to do mind you) they won't wake themselves up from their slumber of superiority.
Just out of curiosity, what's your fix for this?
The only one that comes to me is opening up savings accounts to everyone and setting a floating deposit max for all of EBANK. Then, whenever it's reached they stop accepting additional funds into savings accounts. To me at least, this is a big turn off to customers. You shouldn't have to stop by everyday in the hope that they'll be accepting deposits. Not to mention establishing and keeping up to date the deposit limit is a pain.
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Shar Tegral
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Posted - 2008.08.11 11:08:00 -
[8]
Originally by: Packtu'sa
Frankly, I agree. EBANK seems interested in its oldest customers, and it seems afraid to change up its operation too much. Why aren't interest rates varied? According to EBANK's own website, the total interest earned from loans is almost double what EBANK has paid out to accounts including the 3% savings accounts. Why can't EBANK manage a higher ROI or lower rates on its loans? How much ISK is going straight to EBANK employees, through salaries, their privileged 5% accounts, et cetera? That's a missing piece of information. Are profits funneled into EBANK and straight to someone who clicks a few buttons every day to send off withdrawn ISK?
Okay, let us all put our tinfoil hats on while I dissect this person's (please replace person with any derogatory term you prefer) ill-intentioned rant. I'd say ill-informed but actually he's very well informed and is just trying to fan some flaming here. - Payroll: Only just recently started a little over a month ago. Prior to that point no one was being paid any isk. To my knowledge they are paid a flat stipend of 150M per month and, mind you, when it was voted upon it was made retroactive for all current and former associates of ebank. - Special Interest Accounts: Unless this was recently instituted (which I highly doubt) there were no special interest accounts for ebank staff or directors. It was discussed as a form of compensation and deemed to elitist to be effective. - Higher Rates: Because Ebank does not have to provide higher rates in a sluggish market. Also from the very beginning one of the primary non-goals of Ebank was direct competition with IPO's and Publicly Issued Bonds (PIBs). So as the secondary market suffered more Ebank closed down savings account creation to not put additional pressures on that market. - Privileged Accounts: There are a few, recent, actions that I am aware of that due trouble me. I am currently doing all I can to extract the one person at Ebank I truly care for from a bit of malfeasance on Ricdic's part. That being said, once the highly privileged and badly issued loan is paid off then I'll gripe about it more. Mind you, my only concern is that it was issued without board approval or notice and at a very low interest rate. It smacked of favoritism, bribe, and irresponsibility on the part of the loan officer... but hey... ebank is his personal playground and none of you care enough to do anything about it. Beside troll them on the forums that is.
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
Ambo
Dirty Deeds Corp.
Axiom Empire
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Posted - 2008.08.11 11:13:00 -
[9]
Originally by: EBANK Ricdic
Now count it for two years. Then consider that we are:
1) Beating FIN rates
2) Competing with if not beating BMBE rates
So I've got to leave everything in there for two years just to get a return close to the rates offered by other large investments... It just dosn't make sense to me.
Still I guess lots of people must think it's worthwhile with the amount of money you guys are getting.
My main problem with the whole compound interest rate argument is that you're saying we should be calculating our rate of return based upon the capital invested at the beginning rather than what we actually have invested now. If I by 100 shares in somthing @ 1 mil each, then I get the first dividend of 10% = 10 mil and buy 10 more shares with the profits. I'm would not now consider may rate of return to be 11/100 * 100 = 11% per month. it's 11/110 * 100 = 10% per month.
Your rate of return is 3% per month, the fact that it's compounded is unusual but does not fundamentally change that 3% rate and I think it is not only slightly dishonest but totally unneccessary to dress it up as somthing it's not.
In any case, this was nothing to do with your original point, more of a side note. As I said before, I have no problem with you limiting access to savings accounts, even if it does seem somewhat unfair on those who arrived late.
I just don't see why you're trying to say ebank offers a good return. Because it really dosn't and we all know it.
--------------------------------------
Trader? Investor? Just want to track your finances? Check out EMMA |
Shar Tegral
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Posted - 2008.08.11 11:15:00 -
[10]
Originally by: Kwint Sommer
The only one that comes to me is opening up savings accounts to everyone and setting a floating deposit max for all of EBANK. Then, whenever it's reached they stop accepting additional funds into savings accounts. To me at least, this is a big turn off to customers. You shouldn't have to stop by everyday in the hope that they'll be accepting deposits. Not to mention establishing and keeping up to date the deposit limit is a pain.
Quite close actually however not quite. Simply put, once it is decided to not allow more savings accounts to be created then all savings accounts lose the ability to deposit more. If someone withdraws from savings at that point, tough crap. Once Ebank felt comfortable with the flow of isk, in and out of the system, the cap could be removed and depositing could once again commence. As you can see closing down the creation of savings accounts is not popular. An old plan of ebank's was to summarily close them all down, without notice, and have everyone's funds dumped into the checking account. It did not get approved because a few, like myself, felt that was too much. Too close to breaking our word. (Which is why the old accounts are still there btw.) However I don't like special privileging either as it is hard to find out the why's and who's of such things. Too many dirty dealings could go on (and have gone on) if a system of special privilege is allowed to exist.
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
LaVista Vista
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Posted - 2008.08.11 12:23:00 -
[11]
Originally by: Shar Tegral
- Special Interest Accounts: Unless this was recently instituted (which I highly doubt) there were no special interest accounts for ebank staff or directors. It was discussed as a form of compensation and deemed to elitist to be effective.
I had a lookup in the database, which yielded a result which supports this statement.
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Joss Sparq
Caldari
ANZAC ALLIANCE
Southern Cross Alliance
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Posted - 2008.08.11 13:43:00 -
[12]
Originally by: Kwint Sommer
You shouldn't have to stop by everyday in the hope that they'll be accepting deposits.
I have to say, I did get a little chuckle out of the mental image of people lining up outside a bank, demanding it take their money. Sometimes in RL I feel like I'd actually make more progress by closing my account - under the guise of an armed robbery.
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Vhaluus
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Posted - 2008.08.11 14:16:00 -
[13]
Originally by: Kwint Sommer
Originally by: Shar Tegral
I'm not going to say much more than this is one of those things that I felt should have been fixed long ago.
One of many little holes and oversights.
I think Ebank is going to be as proactive as CCP. Until someone abuses or exploits these holes (Which I can't bring myself to do mind you) they won't wake themselves up from their slumber of superiority.
Just out of curiosity, what's your fix for this?
The only one that comes to me is opening up savings accounts to everyone and setting a floating deposit max for all of EBANK. Then, whenever it's reached they stop accepting additional funds into savings accounts. To me at least, this is a big turn off to customers. You shouldn't have to stop by everyday in the hope that they'll be accepting deposits. Not to mention establishing and keeping up to date the deposit limit is a pain.
there is a very, very easy fix to this.
here's how you do it:
1)allow everyone to deposit as much isk as they want into savings accounts
2)Ebank each month makes an estimation of how much they can/will pay out in interest
3)interest rate for that month is the percentage of these numbers.
its fair for everyone while at the same time moving closer to how a real bank works. It also allows a much stronger secondary market imho.
Also just to note, while ebank staff members may NOT get a special interest rate yesterday ricdic freely admitted that there is at least one person who has been given a special 5% interest rate savings account. He freely admitted it in the public ebank channel so it's not like I've uncovered some deep dark secret but just putting it on the forums for the record.
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Kazzac Elentria
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Posted - 2008.08.11 14:32:00 -
[14]
Originally by: EBANK Ricdic
1) Our salaries are all relatively low. For example for our first year of operation I was paid a total of 1.5 billion isk in salaries. Bonuses etc weren't counted as they haven't been considered yet. Our staff mostly work for EBANK because they enjoy doing so, there are no big payouts being recieved by our staff.
To be perfectly frank, this should likely be of a higher priority than perhaps it is.
As operations grow exponentially and the difficulty with dealing with the amounts of capital, as well as attempting to give a return on that capital grow the level of frustration within each individual player involved will only grow until that frustration begins to turn into resentment. Compensation for all players involved should be equal with the effort involved.
I'd also suggest that you create a position on the board with a set term limit and allow that position to be voted on by your customers. A pretty common practice among collective groups with shared interests.
The bank has grown to a point where I would suggest you begin to adopt many of the same practices credit unions use. |
EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.08.11 14:35:00 -
[15]
Originally by: Vhaluus
Also just to note, while ebank staff members may NOT get a special interest rate yesterday ricdic freely admitted that there is at least one person who has been given a special 5% interest rate savings account. He freely admitted it in the public ebank channel so it's not like I've uncovered some deep dark secret but just putting it on the forums for the record.
Actually you are incorrect. If you check your logs you will see the person recieved a 3.5% interest rate account with express conditions of a long term deposit with restrictions on withdrawals back when we were quite young. The person had zero employee related affiliation with EBANK. There has never been any cloak and dagger reason to hide this fact. It happened when we were young and the person was going for a long holiday and offered a large pile of isk.
We also sometimes offer bonds with interest rates at or above 3.5% per month. There's no secret hidden story here.
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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.08.11 14:37:00 -
[16]
Originally by: Shar Tegral
- Privileged Accounts: There are a few, recent, actions that I am aware of that due trouble me. I am currently doing all I can to extract the one person at Ebank I truly care for from a bit of malfeasance on Ricdic's part. That being said, once the highly privileged and badly issued loan is paid off then I'll gripe about it more.
I am actually not sure what you are talking about here. You are still on my msn so it would be appreciated if you would advise me. If it's the Proton thing we have been over it and it has been approved.
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Hexxx
Minmatar
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Posted - 2008.08.11 14:39:00 -
[17]
Originally by: Vhaluus
Originally by: Kwint Sommer
Originally by: Shar Tegral
I'm not going to say much more than this is one of those things that I felt should have been fixed long ago.
One of many little holes and oversights.
I think Ebank is going to be as proactive as CCP. Until someone abuses or exploits these holes (Which I can't bring myself to do mind you) they won't wake themselves up from their slumber of superiority.
Just out of curiosity, what's your fix for this?
The only one that comes to me is opening up savings accounts to everyone and setting a floating deposit max for all of EBANK. Then, whenever it's reached they stop accepting additional funds into savings accounts. To me at least, this is a big turn off to customers. You shouldn't have to stop by everyday in the hope that they'll be accepting deposits. Not to mention establishing and keeping up to date the deposit limit is a pain.
there is a very, very easy fix to this.
here's how you do it:
1)allow everyone to deposit as much isk as they want into savings accounts
2)Ebank each month makes an estimation of how much they can/will pay out in interest
3)interest rate for that month is the percentage of these numbers.
its fair for everyone while at the same time moving closer to how a real bank works. It also allows a much stronger secondary market imho.
Also just to note, while ebank staff members may NOT get a special interest rate yesterday ricdic freely admitted that there is at least one person who has been given a special 5% interest rate savings account. He freely admitted it in the public ebank channel so it's not like I've uncovered some deep dark secret but just putting it on the forums for the record.
EBANK is a business, not a charity. This goes both ways.
The surplus that EBANK manages is used to compensate for future anticipated defaults or revenue interuptions. Bank stability was and is of paramount importance.
Chairman of the Board of Directors | www.eve-bank.net
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Vhaluus
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Posted - 2008.08.11 14:45:00 -
[18]
Originally by: Hexxx
EBANK is a business, not a charity. This goes both ways.
The surplus that EBANK manages is used to compensate for future anticipated defaults or revenue interuptions. Bank stability was and is of paramount importance.
I never claimed it was a charity, but how does what you're doing currently make good business sense?
I never said you had to pay out all your earnings as interest, that's why I said an amount you had decided to pay.
@ric: I was not trying to imply it was cloak and dagger, in fact I stated it was in a public channel specifically to make that clear. I do however apologize if I got the number wrong.
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Shar Tegral
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Posted - 2008.08.11 14:45:00 -
[19]
Originally by: EBANK Ricdic
I am actually not sure what you are talking about here. You are still on my msn so it would be appreciated if you would advise me. If it's the Proton thing we have been over it and it has been approved.
It is not Proton but it makes no difference. I'm resolving the situation to my satisfaction and in line with my person ethics. I will say that if matters had been handled with internal transparency and accountability I would not have involved myself. Since it was not I'm using my own funds to cancel the loan in question. Under the circumstances, that loan should have never been accepted. As to advice, what? You have a personality transplant while I was away? If not, why bother.
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
Hexxx
Minmatar
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Posted - 2008.08.11 14:49:00 -
[20]
Originally by: Vhaluus
Originally by: Hexxx
EBANK is a business, not a charity. This goes both ways.
The surplus that EBANK manages is used to compensate for future anticipated defaults or revenue interuptions. Bank stability was and is of paramount importance.
I never claimed it was a charity, but how does what you're doing currently make good business sense?
I never said you had to pay out all your earnings as interest, that's why I said an amount you had decided to pay.
@ric: I was not trying to imply it was cloak and dagger, in fact I stated it was in a public channel specifically to make that clear. I do however apologize if I got the number wrong.
We have an amount we decided to pay, it is nice and perdictable both for us and our customers. We plan our revenue around these expectations and to be quite frank; it makes excellent business sense. Minimize liabilities and maximize revenue. Yes, EBANK is very very profitable, and it has to be to absorb potential losses and other costs.
The advantage of an EBANK account is you know exactly what you're getting day after day, week after week, and month after month. A consistent rate of return and easy access to funds.
Chairman of the Board of Directors | www.eve-bank.net
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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.08.11 14:57:00 -
[21]
By all means Shar. The loan in question (I understand to whom you were referring) has no problem whatsoever nor has it been questioned by anyone plus it did receive complete approval.
Shar your exaggerations and lies have to stop. This is really getting ridiculous. I am sick of listening to your hypocritical attacks. Why don't you explain why you (as a bank teller) gave multiple people full access to EBANK isk without informing our staff? It was recently brought to our attention after your departure and has since been resolved.
But you talk of oversight, you talk of security and the whole time you had been risking multiple billions of EBANK funds without ever mentioning it to myself or the board.
Plus, ever since your resignation you have been bringing up issues that you never thought prudent to mention internally but decide to mention now? Your single goal at this point is to do everything in your power to damage EBANK as you are no longer part of it.
I don't care if you post facts but the lies and exaggerations have to stop. The problem is that I cannot refute a lot of your claims as it breaks privacy policy. You know this and it fuels you. Your current vendetta is on the verge of being on par with YouGotRipped.
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Shar Tegral
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Posted - 2008.08.11 15:05:00 -
[22]
Originally by: EBANK Ricdic
Shar your exaggerations and lies have to stop. This is really getting ridiculous. I am sick of listening to your hypocritical attacks. Why don't you explain why you (as a bank teller) gave multiple people full access to EBANK isk without informing our staff? It was recently brought to our attention after your departure and has since been resolved.
But you talk of oversight, you talk of security and the whole time you had been risking multiple billions of EBANK funds without ever mentioning it to myself or the board.
You really want to go down this road or would you rather just bite the bullet and apologize now before it gets ugly?
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
Shar Tegral
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Posted - 2008.08.11 15:15:00 -
[23]
Originally by: Shar Tegral
You really want to go down this road or would you rather just bite the bullet and apologize now before it gets ugly?
Tick tock, still waiting. Or does Hexxx have your tongue?
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.08.11 15:15:00 -
[24]
I have said what I needed to say. I also didn't lie or exaggerate when saying it. I was going to let it go but when you started down this path I felt it prudent for people to see that you are no god and you need to step down off that pedestal.
Do you want me to apologise for telling the truth? Or would you prefer to apologise to all of the EBANK staff for your lies?
I won't say any more on the matter.
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Shar Tegral
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Posted - 2008.08.11 15:28:00 -
[25]
Originally by: EBANK Ricdic
I won't say any more on the matter.
Oh but you will. You should check your own forums, especially the old ones. On there you will find that I fully, and totally, disclosed the governance concerning my corporation. Three people have access to the entire corporate wallet. Those three people are myself, Athre, and Dylythium. An online Sexy link was provided to Ebank so that at any time someone wanted any activities could be reviewed. Not just Ebank activities mind you but any and all of my corporation's activities. This level of trust was given out because of the level of trust that had been given to myself and them. Now, all of that being said, I have no compunction of providing said link to the public at large if you do not retract your lie that this information was not posted. You will leave me no choice in the matter but to provide proof that your accusation is an outright lie. I don't care why you chose to lie, managing your outbursts is no longer my responsibility. But you sold your integrity cheap and I'm not the other people you've slandered in the past. I can fight back. With truth.
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
Hexxx
Minmatar
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Posted - 2008.08.11 15:38:00 -
[26]
Originally by: Shar Tegral
Originally by: Shar Tegral
You really want to go down this road or would you rather just bite the bullet and apologize now before it gets ugly?
Tick tock, still waiting. Or does Hexxx have your tongue?
That was not necessary.
Chairman of the Board of Directors | www.eve-bank.net
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Shar Tegral
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Posted - 2008.08.11 15:43:00 -
[27]
Originally by: Hexxx
That was not necessary.
After that lie and trying to prove I'm not a god? Very much so. I'm not a good, that I know. But it is not for Ric to make up lies trying to prove that.
To Shar -verb:
1 - To say what you mean.
2 - To say what it means.
3 - To say something mean. |
CornerStoner
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Posted - 2008.08.11 15:54:00 -
[28]
Pardon my interruption of the playground name calling match you two are having.
As far as EBankĘs account status and interest rates are concerned:
Why not consider rolling savings and checking accounts into one account with a variable interest rate? Set the upper and lower limits and let a percentage of the profits be the interest rate for the following month (somewhere in the middle of the limits)?
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Shadarle
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Posted - 2008.08.11 15:55:00 -
[29]
Originally by: Vhaluus
I for one withdrew all my money from EBank after learning that I could not gain a savings account because essentially what it meant was that you could pay me a lower interest while still being able to use my money to make the isk to pay those who happened to have an account longer.
That was a laughable statement to make. You were truly shocked that E-Bank was doing what they were doing to make themselves money and not to help you make more money? I know I frankly am shocked to discover a business is in the business of making money!
If you don't like the way they do things don't invest in them. It's VERY simple. They aren't here to give you a good investment place, they are here to get people to give them their money as cheaply as possible and to exploit the massive demand in the investment market for a reliable investment. Frankly at this point I think they should be charging less than 3% if they are still filling up at 3%.
I think limiting investment and keeping a set payout rate is a bit silly as well... but that is because I think they should be paying less money out, not because I think they should be paying out more. If they have to stop people from investing due to excessive demand then they are paying too much right now and they don't seem to be even thinking about changing this. It seems they are actually being far more giving than they should be to me.
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Shadarle
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Posted - 2008.08.11 16:04:00 -
[30]
Originally by: Shar Tegral
Originally by: Shadarle
Frankly at this point I think they should be charging less than 3% if they are still filling up at 3%.
For many months now only 1.5% accounts have been available. Not 3%.
Which is exactly my point. They have too many people at 3% and don't need to offer 3% to get investors... thus why are they still paying anyone 3%? They shouldn't be paying anyone 3% since they don't have to.
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