What is eCitizens Bank doing with your money?
Mr Andrews
(Click here to go directly to eCitizens Bank website.)
Currently we have:
Accounts: 44
Deposits: $267,739.36
I usually get questions and comments daily about what I'm doing with all this money. How can I possibly turn a profit with these rates? This is just a pyramid scheme that will eventually collapse. Let me point out a few things that make eCB better than any past bank or present bank for that matter. So what is eCB doing and NOT doing with your money and why is eCB a safe place for you to invest?
Loans: First off I'm a bank without any loans... WHAT? A bank with no loans??? This may seem strange, but loans are extremely risky and not very profitable at all. This is where eRepublik banks of the past lost money and eventually went under.
Monetary Market: One way eCB makes money is by investing in the monetary market. With large sums of money eCB is able to invest in foreign currencies and gold to be able to turn a profit.
Companies: The best way to make money is to invest in companies. I have calculated how much money I can make in a month vs. how much interest a person will make off their deposit, and make enough money for my customer as well as me. Companies also work as an asset, they may be sold at anytime to pay off a CD, Bond, or pay a large withdrawal.
eCB has other avenues to make money, but these are the main ways eCB makes money. I could go on and on, but this is a nice summary so you can see that eCB isn't just a scam and there is a dedicated person working hard with your money so you don't have to. eCB makes careful decisions with your money making sure there is enough liquid cash as well as being able to sell a few companies to cover any withdrawals and upcoming maturing CDs and Bonds.
Why should I invest in eCB? Couldn't I just buy a company and do the same thing?
Sure you could, but don't we all have some gold that's just sitting in our account? Aren't we all saving up for a Q6 Weapons factory? eCB gives you the opportunity to diversify your portfolio and make money off your idle cash and Gold. You can make money off your money for doing nothing. eCB makes a profit for borrowing your money while you sit back and do nothing.
Other Banks around?
I always like to point out that there is a small amount of competition in the eUS, not much but there is. They do not offer as great rates as eCB and or lack the structure eCB offers. eCB has a high quality website, great customer service, and are growing at a tremendous rate. We have not had a down week yet and are constantly growing.
Check out the competition:
Point Bank
E$C Mutual Funds
We beat the competition hands down. eCB offers a greater rate of return than any of the competition in the eRepublik. eCB has only been around for a month and we are already at 44 accounts and $267.7k plus in deposits. This is a safe investment with no loans to lend. Therefore you know your money is safe and always obtainable.
Take advantage of our current offer:
eCitizens Bank is now offering a 1% Bump on any CD when you open a Money Market Account. So your CD will now earn 1% more compound interest! PLUS earn 2% interest on your money in your Money Market Account!
CDs:
Basic CD
Rate - 2.25% int rate NOW 3.25%!!!
High Yield CD
Rate - 2.5% int rate NOW 3.5%!!!
Money Growth CD
Rate - 3% int rate NOW 4%!!!
Terms and Conditions:
1. Must open a Money Market Account and keep the $5000 min balance for the life of the CD.
2. If you go below the $5000 min balance you will forfeit the 1% bonus for the LIFE of the CD and will be downgraded to the normal CD rate.
3. All other terms and conditions apply to all accounts that are already in place.
Check out our full list of products at our website...
When placed side by side with our competition the choice is clear.
Mr Andrews
eCitizens Bank CEO
Comments
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Voted, best article yet
All of this ^ is exactly why I invested in this bank, it is by far the best one I've seen so far in this game and has almost every important aspect imaginable. The only way it could possibly be any better is if everyone with an account could log in somewhere to view their current assets, but I think that would take far too much effort considering everything else that's already being done.
COOL STUFF TO KNOW. I agree with kooguy. GO eCITIZENS BANK!
Voted
voted
a question, .....what up if the price of weapons and foods decline considerably?
are you too big to fail?
I leave enough room for prices going up and down. If I need to I will adjust rates.
what's your core tier?
sub 244 .... nice Mr Andrews!!
I operate at 85% of my deposits between cash/gold/assets. It's a mix of the 3, but I can always liquidate to cover a major max exodus of withdrawals and closing accounts.
would be nice if ''real'' banks had a 85% margin of solvency xD
voted
You say companies may be sold at anytime, but what I've seen in the Company Market is that you can't sell your company below a certain amount to meet the supply-demand curve. Therefore, you are at the mercy of potential buyers to sell your companies.
Right now there are 20 Q5 Weapons Companies selling on the market for the minimum sell price of 342 Gold. There are a few that are offering rebates (refunds). Of course, there is as much guarantee that you'll receive the advertised refund as there is you being paid back a loan that you made.
This sounds well-intentioned. But I will not invest. Previously, I have used two different banks. One liquidated and sent all deposits plus a small payment for inconvenience back to the owners.
But the second just stopped operating one day. They answered no inquiries and returned no money.
There is nothing at all to prevent this from happening again. I will not take that risk again.
I ran one for a long time, and was mostly successful, but the Admin got rid of contracts MID-LOAN. I couldnt
enforce them anymore...lost 200+ gold
contracts should be returned then loans would be a lot safer and people might be able to do them
like this bank