Banks - poor management?

[GandalfSzary]

It happened to me twice already. Went to ND bank and got "out of funds msg", then went to Moneta - this one was closed (not paid maintenance fee). Went to New Oxford and was able to take 1k then got "out of funds msg" again. As the results I couldn't use any of them. Is there some bug, is it only for me or the banks are not taken care of as they should be?

I thought bank should have 1M peds just to make sure it is running well?

[Rotrap]

I would say it seems more that the banks dont generate enough profits to be worth the time it takes to look after them.

[Zacariaz]

I wish I had a bank license...

[jdegre]

i think the 1M PED fund reserve was needed just to get the license, but i guess it is not needed to have 1M PED on cash every single day.

also, i don't think the root cause is poor management. the problem seems to be that banks have been proven as an unfeasible business model, especially with 5 licenses and a shrinking player base and economy.

[Etopia]

Originally Posted by jdegre

i think the 1M PED fund reserve was needed just to get the license, but i guess it is not needed to have 1M PED on cash every single day.

also, i don't think the root cause is poor management. the problem seems to be that banks have been proven as an unfeasible business model, especially with 5 licenses and a shrinking player base and economy.

Most bank did spend the 1M ped ... that amount that only need at the buying time ... so , all in all , most bank did use money to something else than the bank...
I somehow understand , since bank its a lots of work to keep it up...You have to update often price , and follow market of all item...
So , the problem of bank is cleary poor management...but that because a LA for exemple , dont ask any management and pay as much...
also , add to the poor management , the big change in EU economie...price , for first time in history went down...so every little management mistake , was very very big loss...
pushing bank to follow a no risk management...

[Az Bloodz]

The maintance fees are quite high and some items [UL SIB items] have dropped in value quite a lot. There are many overpriced items within the shops of the banks so I am doubting they were generating any profit at all.

[Rotrap]

Originally Posted by Etopia

Most bank did spend the 1M ped ... that amount that only need at the buying time ... so , all in all , most bank did use money to something else than the bank...
I somehow understand , since bank its a lots of work to keep it up...You have to update often price , and follow market of all item...
So , the problem of bank is cleary poor management...but that because a LA for exemple , dont ask any management and pay as much...
also , add to the poor management , the big change in EU economie...price , for first time in history went down...so every little management mistake , was very very big loss...
pushing bank to follow a no risk management...

Or it could be said that was a bad implementation of the bank administrators software. I don't know if that is the case, but if indeed it makes you set and track the prices it is done poorly, it should have options to set the prices relative to the current markups. Again boils down to the time/reward required.

So the problem is NOT clearly bad management at all, it may be the best way to manage them given the current set of choices.

[Leggenda]

to tell the truth i don't think EU's economy can sustain a banking oligopoly... even after the VU 10.0 is here. 1 bank, with all investors chipping in 1M... and giving reasonable interest rates... maybe it will work out, but i'm still doubtful. the virtual system just doesn't allow for a feasible banking system...

[Mkdesign]

That parrallel market was big enough for a player-driven organization, but not for 5 gold-diggers expecting 1000's of $ every month

There was already enough money sucked out of the economy at this time

[Thorn]

We can all speculate but personally I`d ask some bank owners for an honest expaination which in my opinion would be extremely hard to get. We have our theories and any answers confirming such would put the bank license owners investments at further risk. Kind of like how MA will not offer a number on active member counts much less number of players on at any given time. The less people know the better. All indications that things are clearly not what they seem. Remember this in all dealings within EU and you will certainly save yourself money and problems.