• Location • The Bank of Viden

[Whisper]

The Bank of Viden

The Bank of Viden is a large institution managed by Gavro Anesi, cousin of the Talius Family. Though supported by the Directorate, the Bank is an entirely independent institution of the Videnese Government, and the audits that occur cyclically do not have any other affect upon the democracy that rules over the city.

All citizens are allowed to join the Bank of Viden without charge, though their loans must be repaid in a timely manner or they risk the absolute extortive practices of the Bank's personnel. Visitors to the city, no matter the length of their stay, are allowed to open an account and store money here. Due to the sheer amount of wealthy students visiting the city, the Bank of Viden holds perhaps the most amount of accounts in the world. Its income is not modest, and the money is cycled through the city in order to build and repair, increasing the wealth of the city as a whole in small increments each decade.

Banking Details

Rules:

1. It doesn't cost any Wealth Points to open a savings account.
2. Withdrawals, deposits, and all other services can be accessed at any branch of the bank.
3. You can make multiple withdrawals from your savings account per season. However, if you make any withdrawals, your seasonal interest may be affected.
4. This Location is open for you to post in: any and all withdrawals, deposits, loans, and interest calculations must be posted with time stamps below.

Savings accounts

By depositing your Wealth Points in a savings account here, you are agreeing to the rules of the bank (see Rules), and the bank is agreeing to pay interest on your savings.

Interest rates
Interest rates are added seasonally. It is up to you to apply for your seasonal interest; you may do so at the end of each season or on your own schedule, though you are advised to do so seasonally so as not to forget or to make mistakes.

Anyone can put Wealth Points in a savings account. However, only savings accounts with 20 Wealth Points (wp) or more will begin to earn seasonal interest; savings accounts with 19wp or less will not earn interest at all.

For every 20wp you have in your savings account, you will earn 1wp seasonally in interest. This equates more or less to a 5% interest rate. This means that

if you have 20-39wp in your savings account, you will earn 1wp in interest,
if you have 40-59wp in your savings account, you will earn 2wp in interest,
if you have 60-79wp in your savings account, you will earn 3wp in interest,
etc.

To determine the amount of interest you will earn for one season, use the equation
total savings = savings + (savings / 20)
where dividing by 20 represents your account's seasonal interest.

The resulting number of wp will always be rounded down to the nearest Wealth Point.

For example, someone with 32wp in their savings would have
total savings = 32wp + (32wp / 20) = 32wp + 1.6wp = 33.6wp rounded down, or 33wp in their savings after adding 1wp of interest.

And remember, parentheses before addition.

Or use the equation
total savings = savings x 1.05
where 1.05 represents your account's seasonal interest.

As before, the resulting number of wp will always be rounded down to the nearest Wealth Point.

For example, someone with 32wp in their savings would have
total savings = 32wp x 1.05 = 33.6wp rounded down, or 33wp in their savings after adding 1wp of interest.

The next season, they would have
total savings = 33wp x 1.05 = 34.65wp rounded down, or 34wp in their savings after adding another 1wp of interest.

Interest with withdrawals
If you have made withdrawals during the season, you should calculate your seasonal interest using the lowest number of Wealth Points you have had in your savings account during that time.

So, if someone had 50wp in their savings account, withdrew 10wp, and then deposited another 10wp, they would use 50wp - 10wp = 40wp when calculating their seasonal interest.

Bonus
If you don't make any withdrawals from your savings account for a full year, you will earn a bonus of 10wp. This bonus applies to saving accounts which hold less than 20wp.

Loans

By taking out a loan, you are agreeing to pay the bank the amount of Wealth Points you took out for your loan plus interest. The longer you do not pay back your loan, the more interest your loan will accrue.

If you do not make any payments towards your loan for a full year, your Seasonal Wage (earned via your seasonal Wealth Thread) will be seized by the bank until your loan plus interest is paid in full.

Interest rates on loans
For every season that you have a loan out with the bank, the bank will collect interest on your loan. The interest rate on loans is 1wp/season for every 20wp loaned out; this equates more or less to 5% interest seasonally. Loans can only be taken out in multiples of ten Wealth Points, so you may only take out a loan of 10wp, 20wp, 30wp, etc.

To determine the amount of interest the bank will add to your loan per season, use the equation
total debt owed = loan + (loan / 20)
where dividing by 20 represents your loan's seasonal interest.

The resulting number of wp will always be rounded down to the nearest Wealth Point.

For example, someone with a 150wp loan would owe
total debt owed = 150wp + (150wp / 20) = 150wp + 7.5wp = 157.5wp rounded down, or 157wp after adding 7wp in interest.

And remember, parentheses before addition.

Or use the equation
total debt owed = loan x 1.05
where 1.05 represents your loan's seasonal interest.

As before, the resulting number of wp will always be rounded down to the nearest Wealth Point.

For example, someone with a 150wp loan would owe
total debt owed = 150wp x 1.05 = 157.5wp rounded down, or 157wp after adding 7wp in interest.

The next season, they would owe
total debt owed = 157wp x 1.05 = 164.85wp rounded down, or 164wp after adding another 8wp in interest.

Job information

Jobs are available here. To apply for a job, see the city's Job and Wage Request thread.

Player notes

Put notes about the bank from the city's mod(s) to the city's players here.

Change log

Record any changes here that have been made to the bank.

Credit for this template goes to Quio, Pegasus, and Kingdom.

Bank of Viden NPC List

Moderator's Note: Players are welcome to use these NPCs if they're writing about this location.

Gavro Anesi

Race: Human
Age: 39 arcs
Title: Bank Manager
Skills: Business Management 70, Mathematics 60, Leadership 55, Negotiation 40, Persuasion 35, Rhetoric 30


Gavro is a descendant of Verity Talius' sister, making him his nephew three or four times removed. The man is perhaps the only tangible link anyone has to Verity's past life as a human. This is an acceptable link for the family, as their wealth feeds both ways, something that the Talius family is always appreciative of.

Nathalie Feles

Race: Human
Age: 25 arcs
Title: Banker
Skills: Research 60, Appraisal 50, Negotiation 40, Detection 35, Seduction 30


Nathalie is the cousin of Gavro - on the other side from the Talius family! As always, nepotism is found at the heights of this society. Nathalie is often the firth point of call when entering the bank and wishing to open accounts, specialising in student accounts 0 her youth and beauty making her the perfect candidate for enticing the young, naive and foolish visitors to the city. She is also the one who oversees most business loans. She is known to be meticulous and practical when deciding which businesses to offer a loan to. She is quite charming, and is rumoured to give a flat loan - minimal interest involved - for... favours, anyone applicable... especially to family or particularly wealthy individuals. Prophet permission required to pursue this.

Prophet's Note: This location requires permission from a Prophet to self-moderate.
Location Credit: Jade

[Whisper]

Accounts

Accounts currently open with the bank.

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Name:
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Compounding Balance:

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Compounding Balance:

Name

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Name

Name:
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If you seek a loan please apply below.

The Bank of Viden is known for its extortion, and will take your possessions, property and other valuables if you do not repay your loan in time. They will not take family members or any individuals hostage, as that is not legal in Viden, but everything else is game.

NOTE: It is only a business loan if it is to open up a business initially, not to expand upon a business or do anything related to a basic job.

NOTE #2: You don't need to post In Character (IC) to gain this loan. Just post the request here and it will be approved and forwarded to go into your Narrator's Notes.

Example

Name: Jane
Date: Vhalar 716
Amount: 3000gn
Purpose: Opening of the Lodge of the Voice, A Singer's Club
Business Loan? Yes
Repayment Plan: Repay in 1 arc, Vhalar 717, 15% interest

Code: Select all

[b]Name[/b]: 
[b]Date[/b]:
[b]Amount[/b]: 
[b]Purpose[/b]: 
[b]Business Loan?[/b]
[b]Repayment Plan[/b]: 

Credit: Jade