Fort Argus Bank is open for business!

Tzepu

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FORT ARGUS BANK - providing liquidity to the universe

I'm proud and happy to announce that Fort Argus Bank is once again operational!




Sit down, relax and browse the auction!




Enjoy a peaceful crafting session!




It's finally possible to take loans for Calypso Land Deeds, Arkadia Underground Deeds, Spacecraft and estate deeds !!!

With help from Mindark I hope it will become more than a pawnshop in the future! I can hope, can't I.

Read the next posts for further information on the bank and it's current services.
 
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Tzepu

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FORT ARGUS BANK - providing liquidity to the universe


How to take a loan

The bank teller can take a few seconds to load the item list. Use the item search for a smoother experience.

You can take a ped loan for items using those items as collateral. Most items can be used but sadly some are bugged and waiting for Mindark to add them to the bank list.
As standard all the stackable items have 90% of TT as loan value and all the UL items have 90% of full TT value as loan value.

I've added higher loan values for most of the good items ingame and will constantly work on improving that list!


Trying to update the Special Items list on a regular basis to be able to offer the best loans at the best rates!

Over 333 pages of items (that's around 5000 items !!!) now have special loan values and the list is being constantly updated when new items are discovered!



To take a loan you just put the item in the bank interface, you see the loan offer and terms and if you're happy with it click accept.

The item goes in the bank vault and you get a Loan Deed detailing loan amount and loan expiration date.

The interest you see in the bank interface is yearly. Detailed description of the interest rate can be found in the next post.

The interest on the loan is calculated daily! You only pay for the days you use the loan!

When you want to repay a loan (you can do it anyday of the loan period) acces the Bank Teller to see the amount of ped you need to pay back.

If you fail to pay it back in time the Loan Deed expires and gets removed and the item remains in the possession of the bank.
 
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Tzepu

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FORT ARGUS BANK - providing liquidity to the universe


How yearly interest works

<<< YEARLY INTEREST LOWERED TO 49% >>>

At the moment the bank has 49% yearly interest. The current loan term is 30 days. Both these numbers might change in the future. Any change won't affect any loan already taken and just future loans.

As it is now 49% / year means
49/12 so 4.083% / month
49/365 so 0.134% / day

If you loan 1k peds for the full 30 days you will have to pay back 40.8 ped interest so 1040.8 ped.
If you pay back the same loan after 1 day you will pay only 1.3ped interest so 1001.3ped.


How loan values are set

This business is a bank or pawnshop as some like to call it.
It is not an "item buying shop" like some were mislead to believe.

The values I have set for loans are not what I think those items are worth.

I do not want to expose myself to a high risk of getting the bank filled with items that will be left there to expire on purpose. This has happened many many times in the past to the other banks and that's why some of them are out of business now.

On the top items like a mod or imp fap the loan values set are capped at 40k to make it possible to use them for loans. Normally it won't be more then that sitting unused in the bank. I check often and add peds whenever needed. If I would set loans close to real value the bank would never have enough peds available for a loan to be taken without a reservation like mentioned below.


Extra services for big loans

If you want to take a big loan or change loan values all you have to do is contact me.
It's possible to reserve peds for a loan (depending on how much cash I have available at that moment), to work on loan ammount for items (make it higher or lower depending on the exact amount you need) or to work on loan term.


Extended loans and lost item recovery

If you are worried about losing your items best safety is to take a screenshot of the Loan Deed. If the loan expires and the deed gets removed it will be your proof that it's your item that's in the bank. As the bank system works now I only see item name and date, no hour and especially no name.

If you have RL or ingame issues affecting you or your avatar and you realize you won't be able to repay the loan contact me here or ingame (or have a friend contact me) before the loan expires.

To extend a loan you just have to contact me before the loan expires and I will extend it for 1 extra loan term (of 30 days atm) and the cost will only be the normal bank interest.
It's possible to extend a loan just once!
 
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xXSqUaLLXx

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Congratz on your purchase, I hope that you will make it successfull like it never was done before.
 

Xen

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thx m8



I didn't say Mindark is making additional services
So there are two seperate things being said in this sentence?

Additional bank services are being worked on and with some help from Mindark I hope it will become more than a pawnshop in the future.
If so, I misunderstood.
 

MindStar9

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Congratulations on your acquisition. :thumbup:

Hopefully things will work out exactly as you'd like them to, and I wish you success.
 

Tzepu

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thx MindStar9


Edited that sentence to make it Xen proof :laugh::laugh::laugh:
 

Xen

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thx MindStar9


Edited that sentence to make it Xen proof :laugh::laugh::laugh:
Your statement was misleading. I was being nice saying I misunderstood. Thanks for the smartass reply though.
 

Nor Alien

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Gratz on the bank. :beerchug:
 

slither

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Gratz. I'm sure it will work out well if you take some time looking after it.

Not sure why you've hid the teller in the corner, put it upfront so you can see it as you walk thru the door :)
 

Arthurs

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good job m8. on my way to check it out :smoke:
 

Tzepu

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Gratz. I'm sure it will work out well if you take some time looking after it.

Not sure why you've hid the teller in the corner, put it upfront so you can see it as you walk thru the door :)
Thx everyone

As I said in the first post, it's the only place it will let me put the bank teller now, the main floor of the building is bugged and I got tired of waiting for MA to fix it

After the fix the bank teller will get a VERY easy to reach place on the stair of the bank, just m away from TP ;)
 

il

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gratz mate to becoming a banker :)

 

soLO 3000

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Big gratz mate....keep Gunzy away, he will bankrupt you :wise:
 

dj.

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:wtg: Wishing you every success Tzepu :wtg:
 

Dusk

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Good luck with the bank. The banks have been here for five years now and some have not even opened to the EU public.

Maybe you, with MindArk's help, can bring something new to the table.
 

Shard-Angel

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Super congrats! :)
 

Mega

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Tzepu congratulations on your purchase.

I reckon you are the perfect person to make this work and make a better go of it
than previous purchasers so I wish you best of luck with it.








At least the doors open eh? :)
 
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Tzepu

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Tzepu congratulations on your purchase.

I reckon you are the perfect person to make this work and make a better go of it
than previous purchasers so I wish you best of luck with it.








At least the doors open eh? :)
If it had doors I think they would not open lol

Good that it doesn't lol



I will be traveling this weekend so all questions and requests by PM, thx

Happy Easter everyone!
 
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