Clarification about Entropia banking operations

[Bertha Bot]

Clarification about Entropia banking operations
04 June 2007

Since we released news about the virtual banking licenses, several questions regarding loan services and banking affairs within Entropia Universe have been raised. The main concern has been the lending of items for interest. We feel that we need to clarify our policy about this.

Recently MindArk PE AB issued official virtual banking licenses. These licenses comprise a secured bank system for processing loans and securities in the form of items. All transactions made via this official bank system, such as loans, defaults, securities, interest etc., are safe and as such guaranteed by MindArk.

By contrast, loan services offered outside this official bank system cannot be guaranteed by MindArk. If an item is exchanged between avatars, this transaction will be logged as a regular TRADE. And as all trades are final, MindArk will not investigate claims if a loan giving avatar refuses to return items or money.Many people do not fully understand the true value of their virtual items until they are lost. They will then contact MindArk PE AB for assistance and will realize that we cannot help them; this can cause a lot of unnecessary grief and frustration.

We do not wish to discourage entrepreneurship within Entropia Universe, but based on experiences from community feedback and support case history, unfortunately not all entrepreneurs offering loaning services are trustworthy members of the Entropia Universe and therefore we need to be strict in our policies in order to protect the community from scams and cheating.

Therefore, any loan services offered outside the approved bank system will be considered by MindArk as scam attempts and the avatar offering such services risk a permanent lockdown of his/her account.



Originally Posted Here

[Hardicus]

Originally Posted by Bertha Bot

Therefore, any loan services offered outside the approved bank system will be considered by MindArk as scam attempts and the avatar offering such services risk a permanent lockdown of his/her account.

So much for free enterprise

[Slick]

Goodbye Gamers Bank and H&R Circle then?

[SODERD]

lol... knew it was commin... sry kygon time to shut down the buissness

[KikiSand]

There goes the more then honorable initiative of H&R Circle i think

[NightwolfAA2k5]

Hmm... I guess shares are out of the question too... Like those ones in ACS (Anshe Chung Studios or whatever)

[Arkonen]

Originally Posted by Bertha Bot

[B]
We do not wish to discourage entrepreneurship within Entropia Universe, but based on experiences from community feedback and support case history, unfortunately not all entrepreneurs offering loaning services are trustworthy members of the Entropia Universe and therefore we need to be strict in our policies in order to protect the community from scams and cheating.

Therefore, any loan services offered outside the approved bank system will be considered by MindArk as scam attempts and the avatar offering such services risk a permanent lockdown of his/her account.

This is just

MA if you do not wish to "discourage entrepreneurship within Entropia Universe" just implement a SECURED LOANING system to ALL OF US. Not just to a very limited set of "entrepreneurs" having loads of money to put in this game.

And remember that economy (real or virtual) without the small "entrepreneurs" is just NOTHING.

[ThunderCat]

thats f`d up but i guess its for our best interest.

[A-Bomb]

"We do not wish to discourage entrepreneurship within Entropia Universe"

"Therefore, any loan services offered outside the approved bank system... scam attempts and the avatar offering such services risk a permanent lockdown."

Um, yeah i get their point... but i mean... am the only one seeing two faces atm? Or are my eyes just crossed?

[NightwolfAA2k5]

Originally Posted by Arkonen

This is just

MA if you do not wish to "discourage entrepreneurship within Entropia Universe" just implement a SECURED LOANING system to ALL OF US. Not just to a very limited set of "entrepreneurs" having loads of money to put in this game.

And remember that economy (real or virtual) without the small "entrepreneurs" is just NOTHING.

Right with you there, dude. They keep stripping away our rights, there'll be none left soon... But then... According to the EULA, we have no rights...