The Banks of Negav

We were discussing this on ventrillo (AKA land of the awesome) and this discucssion came up, so I made a thread.

Well now Negav is a major trade city, so there is a lot of money and gems and other valuables about in Negav, so we need a method of storing money and loaning money to make businesses, so now comes the Negav Banking industry to hold your funds!

Bear in mind you won't be keeping all the money in the lower tiers of the city, that's just asking for you to wind up wearing a barrel for clothes. But in the middle tier of the city you'd certainly see a few owned by private sectors, and in the upper tier you'd get banks owned by the Magiocrats and Vishmitals. So let's discuss this idea people, DO IT NOW!

Banks in Lower Tier are a necessity even if they would be prone to being held up. However make it a bank policy to hold no actual form of currency that equals to one ounce of pure Ascarlin on the market in the Lower Tier banks. Instead the primary purpose for lower tier banks is short term storage, with items and currency being held there for a single day before being moved to either of the upper tier branch's depending on how valuable the item is.

Mid Tier Banks are your actual deposit and storage facility for any form of currency that is equal to or exceeds the value of one ounce of pure Ascarlin on the market. Where one can actually walk in and converse to a teller (after the long waiting line must include them! Cant have a bank without waiting lines) to withdraw from their account. And if they had set up a meeting previously can set an appointment to have a permanent account that wont close should they withdraw everything from it. That could also be another thing for Lower Tier banks where temporary accounts are made for the average adventurer and Negavian. Temporary as if the person does no do anything with the items in their account for 90 days the bank can claim the account owner deceased due to natural causes (its Felarya guess the most natural cause of death). And are able to claim items under this clause: Clause G in Paragraph 6 of page 958, Sub Section XXIV of Section IX in the Bank's terms of service which gives the banks the right to close a temporary account after 90 days of no service as the account holder is deceased due to natural causes. Any and all items within the account are to be claimed by the bank and used to pay of any incurring debt made from holding the items in the account for 90 days. If a user of a closed account is still alive and wishes to reclaim what they lost they must fill out a 1AM- N0T D3Ad form and file it through the banks proper channels for reclaiming lost or unclaimed items.

Upper Tier Banks are used by your wealthy, upper class, and Social Elites to hold all sorts of riches and artifacts that would make the renowned Collector Fairy Subetia break down in tears of joy if she could have at them. The security for these banks would be classified on a measure of Extreme Danger to any would be thieves. For a person to even use one of these banks they would have to receive a letter of invitation from one of these banks. And to get one of these invitations one must have a referral from a current member of high standing within that bank. And a total net worth of at a minimum 100 pounds of pure Ascarlin at market price. With out either of those you might as well just keep on walking as these banks have very strict and harsh rules and if your not a member the rules get even harsher.

Well that's my 2 cents worth.

Wait, assuming that

this:

How much is a pound exactly?

walkingbyself wrote:

a total net worth of at a minimum 100 pounds of pure Ascarlin at market price.

Assuming that a whole gem is about 5 pounds of ascarlin (100/5) • 50,000 = 1,000,000 Skevol deposit just to access the bank?

walkingbyself wrote:

For a person to even use one of these banks they would have to receive a letter of invitation from one of these banks. And to get one of these invitations one must have a referral from a current member of high standing within that bank.

That sounds like the destruction of the Negavian economy. Also that was just my assumption. Ascarlin gems are small, it could easily be that a gem is about a pound only, making it more like a 5 million skevol deposit to access the bank. Even if it was a million - why would you do that? You'd be loosing money to try and get money. It sounds counter-productive. No one would want to use a bank that charges so much.

I suggest lowering it to like 1,000 skevols or something. I'm sure everything in the upper tier banks are worth a lot more than that, 1000 skevols is a nice price too, and with the rich people having way more than that I'm sure it feels like pocket change. Making investments with the banks on other accounts would be dealt in enough zeros to pay employees well anyway. Including Security.

I never truly put the math behind it. Nor took the other currencies into account I was simply going on a personal guess that a piece of pure ascarlin is worth a lot more than circuited ascarlin that you will find being traded on the streets of Negav's Upper and Middle Teirs and occasionally the Lower Teir and that ascarlin was the highest currency available. But yeah if that's how things actually turn out with the other more powerful currencies as well as the weaker ones, than yes defiantly have to up the ante to access for a personal account and private account in the Upper Tier banks. Especially if a ounce of pure ascarlin isn't worth as much as circuited ascarlin. eheh teach me not to do my homework I guess.

Well ascarlin is the highest form of currency, but it's way too rare to use as an exchange as common as accessing the bank. So you'll want to lower the currency required to access the bank. Make it high, but not too high.

...Actually you could make it a membership thing, since banks don't usually require payment to get in. If you have to be a member of the High Tier Banks, then you might want to have people pay a fee that will allow them to gain access to the banks. Paying for additional services would increase the cost, and we may even put in an "Upper Tiers Club" much like the millionaires club (here).

I don't mind the idea of banks in Felarya.

Spoiler: