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Oxford Bank - Insufficient Funds

M

mantra

Provider
Joined
Apr 17, 2006
Posts
119
Hey,

Today I went to Oxford Bank and tried to get some money from. First tried to loan 211.47 Ped but I got an error uppon transfer. I guess the last 11.40Ped from this bank is mine. :wtg:

 
Hmmm virtual life mimics real life :rolleyes:
 
Ahhh insolvency... is there no place it doesn't rear its ugly face?
 
Bit of a worry if its true
 
lol :D

The Bank is currently holding over 1M ped of items

baahaha try selling them if people default on their loans :O omg talk about bottlenecking
 
Wow.. If I understand the way banks work they have to have a 1M ped pool for loans so that means they alraedy have 1M ped loaned out? :eek:
 
Centech said:
Wow.. If I understand the way banks work they have to have a 1M ped pool for loans so that means they alraedy have 1M ped loaned out? :eek:
Click to expand...

Or have collected 1 million ped in Crap collateral that people used to get loans cause they can't sell it and now the bank can't sell it either... or they don't log on enough to sell 10 million low TT pixie harnesses!
 
This does not surprise me at all, the well known owner (and her pawns) have abandoned the bank.

Aura Lily, would you care to comment in Anshe's extended abscence?

:laugh: :rolleyes:

BTW, what is the current value of the shares in this bank now?
 
mandu said:
Or have collected 1 million ped in Crap collateral that people used to get loans cause they can't sell it and now the bank can't sell it either... or they don't log on enough to sell 10 million low TT pixie harnesses!
Click to expand...

What's the point in borrowing against tt food instead of just tting them :scratch2:
 
Hellfire said:
What's the point in borrowing against tt food instead of just tting them :scratch2:
Click to expand...

I have no clue if this is true.. but if they bank will loan you tt+1 on a pixie harness... instead of TTing them go "sell" them to the bank. Loan the money then default.. sounds like a good plan...
 
Grrrrr said:


BTW, what is the current value of the shares in this bank now?
Click to expand...

Ha, i forgot all about that. I think i may have bought some of those, im assuming im negative equity now then :D

Interesting though, i was one of the people that said banks were a waste of time, they must be doing something right to have 1 million ped out.
 
Last edited:
Most of the time the banks loan you TT- on the items you present. Only the rarer items warrant TT+ anything.
 
Pawn shop broken?

Someone needs to TT a some crap ;) Its Anshe if I am right :cool:
 
Anshe has left the building..and Entropia if the chatter inside SL is to be believed.
 
This is why a real player should run these banks, whether as owner or just an employee. Outside ppl coming in totally fresh is all well and good but in the most case they would benefit from the knowledge of long time existing players! :wise:

Now MA, (or is it First planet?) you need to buy out 80% of this bank using tax payers (players repair bills) money and give power to the ppl XD

Rip
 
The 1 million ped is a common misconception. Yes the day the bank opened it was a requirement.

The day after it could all be taken out. The amount to be leant is entirely at the discretion of the bank owner.
 
buying oxford bank, offering 100 ped :)

considering they seem to be out of money that is quite a good offer, no? :D
 
Offer 200 ped:laugh:
 
mandu said:
Or have collected 1 million ped in Crap collateral that people used to get loans cause they can't sell it and now the bank can't sell it either... or they don't log on enough to sell 10 million low TT pixie harnesses!
Click to expand...
Nonsense. The 'bank' (=pawnshop) will give you a percentage of the item's current market value, but that percentage is well below what anyone would actually give for the item. Example: Moneta bank currently gives you 10k for an ML-45. This item is worth at least +23k

Any reseller will buy items from the bank when a 'client' defaults on their payment and the items go cheap. I'm not a reseller, but I will gladly become one and depo US$ 20k if I can buy high-end items for 40% of their actual value. :cowboy:
 
Hehe, funny thread :silly2:
I cant imagine that the bank has loaned out 1M peds..
I think the requirement was to have 1M ped ingame when they released the bank?
So maybe it was withdrawn after release.
 
:scratch2: I still havn't really figured out a reason to use a bank to be honest, but since this one ran out of money others must of found it useful
 
Virtual life mimicking real life.

Very odd.

Shall wait to see if the owner or MA explain what has happened here.

When is the bank rent payment due?
 
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