Virtual World Entropia Universe Issues First Ever Virtual Banking Licenses for $400,000

[AlphaGeek]

Apparently it's not a financial institution per se, but a payment brokerage service, kind of like paypal and the others of that ilk.

Not a bank.

AG

[Joker]

Originally Posted by AlphaGeek

Apparently it's not a financial institution per se, but a payment brokerage service, kind of like paypal and the others of that ilk.

Not a bank.

AG

which can provide added banking services... i dont know if you have pay pal... but u gain interest on your money sitting in account... atleast i do... and debt card... credit card.. bank account attachments... they will proved added banking functions that a ND or others cant provide... so they are much like an online bank i would say...

[thoreau]

Originally Posted by AlphaGeek

Apparently it's not a financial institution per se, but a payment brokerage service, kind of like paypal and the others of that ilk.

Not a bank.

AG

It provides payment services for online poker sites. It will take about a month before what ever card service company that is backing the ATM card to pull out.

[Xen]

Originally Posted by Joker

hope the new ATM cards that have finally arrived and 2 real life banks shut the nay sayers the hell up


shunnnn the non believers! SHUNNNNN

{DELETED HTML CODE}

since the embedded thing didnt work...
http://www.youtube.com/watch?v=Q5im0Ssyyus

The "nay saying" was justified, because at the time there was no news of anyone with a real banking license buying one of the banks.

I'm glad a "real life bank" has purchased one of them. Not sure exactly what the Russian service will be able to do.

BTW, did anyone notice that the "real life bank" paid the least of the five?

The Janus I know is Janus Capital Group, but it's not a bank, it's an investment service.

[AlphaGeek]

Joker, one of the fundamental differences between a bank and other financial service providers is insured deposits. In the US, the FDIC insures that should a bank go bust, you'll get your money back up to 100,000 USD. There is a similar guarantor fot credit unions in the US.

Paypal, as a payment service is not eligible for FDIC protection.


See

www.auctionbytes.com/cab/abn/y02/m03/i13/s03
and
https://www.paypal.com/cgi-bin/webscr?cmd=p/gen/travelers-outside

It will be interesting to see what protection the mystery "real bank" affords those that choose to deposit... if depositing into an account is ever an option.

AG

[Moonbiter]

Originally Posted by Pham

dont be so happy with moneta.
i would not trust them a pec.
they have no russian legal documents like license numbers mentioned on the site.
thats a sure way to get raided by our tax gestapo which will take all the monies confiscated.
also firefox cocks up about ssl cert for http://www.moneta.ru/transfer/index.htm

Well, you're quite blind then. Here you go, directcly from their site:

Originally Posted by http://www.moneta.ru/info/about/index.htm

Разработчиком и оператором системы электронных платежей является Общество с ограниченной ответственностью «МОНЕТА.РУ». [ The developer and operator of the electronical payment system is company with liability restriction "Moneta.ru".
(couldn't find the exact translation for the company type, so just did it word-by word.)


Юридический адрес [Juridical address]

109129, Россия, г. Москва, ул. 8-ая Текстильщиков, д.11, офис 208

Почтовый адрес [Postal address]

109129, Россия, г.Москва, аб.ящик #1, ООО "МОНЕТА.РУ"

Контакты [Contacts]

телефон [Phone]: +7 495 6494438

Юридические реквизиты [Juridical requisites]

ИНН 1658068200

КПП 772301001

ОГРН 1051633099429

ОКПО 78696416

ОКВЭД 52.61.2, 64.20.12, 72.10, 72.20, 74.4, 92.40

Банковские реквизиты [Banking requisites]

Банк: ВТБ 24 (ЗАО)

Р/с: 40702810424000003191

К/с: 30101810100000000716 в ОПЕРУ Московского ГТУ Банка России

БИК: 044525716

[Sarubaboon]

So...... we could be seeing each of the five "institutions" operating in a slightly different way..... quite interesting to see what will happen, where do you think the real life bank would like to set up shop?. probably not CND?

[Etopia]

Weee lots of PR ... So lots of new player , bigger ath and so on...

I just hope the new cash card will works good and will be provided for free to the player who have bouth the old ...

As for bank , its like LA , clib neverdie , Mall , TI and all that investor crap shit , i dont like it.I would prefert pay % to MA and they work on fun feature , then paying som IRL choisen few that will take all money out...

[Pham]

Originally Posted by Moonbiter

Well, you're quite blind then. Here you go, directcly from their site:

No, im not blind. I saw that.Those are *only* their address with which they registered the business with and bank account numbers.
Any business in Russia, especially anything like that has to be licensed by the govenmnet. If they run stuff without licensing they do that illegally (from the government and lawers stndpoint). They have to provide their licensing details like license numbers and license subject for people to check any time.
Also where is usual legal stuff like "Terms of service/usage" "Service agreement" or at least "We assure you that your money will be safe" ?!
Also their SSL certificate... Firefox (2.0.0.3, a new one) cannot check their certificate authencity. Was it that hard to sign the certificate with any other CA to stop making any browser upset? And, their legal address is registered in Moskow while the certificate has other things attached to its Subject: "O = LLC MONETA.RU
L = Kazan
ST = Tatarstan
C = RU". Which would help in solving legal disputes alot :P

[Borr]

Originally Posted by Moonbiter

Well, you're quite blind then. Here you go, directcly from their site:

Pham's observation was actually correct. The certificate is an official verisign certificate that shows up fine in IE. However the webserver is not properly configured with the certificate chain of trust, which means that Firefox does not trust the certificate.

There are no technical security breaches here, just an incorrectly configured webserver, which is not very professional. That's all.