t'jelle Bank was created in January of 2009, by AidenAstrup. The initial purpose was to provide as a holding for all of t'jelle's assets and foreign currency and to provide an organizational tool to the high amount of loan requests coming in. In April of 2009 in a discussion between AidenAstrup and Sebastian Locke (Financial Director) it was decided that the bank should expand into offering other banking services such as deposits and investment opportunities.
- AidenAstrup - CEO
- SebastianLocke - CFO
- Anaros - COO
- Ike Falcon - Bank Loans Supervisor
- Serendipitous - International Communications Representative
- Batterytime - Bank Assets Director
- Rekeri - Bank Operations Supervisor
Since April of 2009 t'jelle Bank had offered low risk deposit accounts to all members of the eRepublik community. With the implementation of a website using the eRepublik API, registration was nearly instant and users could began depositing as soon as they completed the registration process.
Interest rates for loans were determined by few factors:
- Citizen Age
- Loan Size
- Loan Length
- History with t'jelle
Using these factors bank was able to decide on a fair interest rate that assisted both the user and the t'jelle. The average loan amount was 20 GOLD, the average loan length was one month and the average interest rate was 13%.
The rules of t'jelle Bank stated how the bank operated, what were the user rights and what were the bank rights. Users were suggested that they view them carefully.
- To deposit money, user was supposed to donate from the account owner or sub-owner to t'jelle: Bank
- To withdraw user sent PM to t'jelle Bank with the withdraw amount. Within 16 hours the money was sent (provided user didn't requested more than his/her account allowed to withdraw)
- To withdraw from the Asset Storage user sent the PM to t'jelle Bank requesting the item(s)
- Any user could request the money be withdrawn and wired to any organization, citizen or country treasury directly. A message was sent to the receiver that it was from that user account. User would also received a confirmation message when the money was sent.
- There were no creation fees for upgrading. All deposits were carried over to the new account.
- Gained interest was added to user account at the first of every other month
- PINs had to be a four digit number
- t'jelle Bank did not reveal:
- Account History
- Current Holdings
- Assets in stock
- Past financial advice
to anyone including governments and admin
- t'jelle Bank can not charge any fees except those visibly listed
- If there was no account activity for one month, the account owner was messaged. If no response was received within 48 hours, the account was deemed inactive and no interest was accumulated. After two weeks of no activity the account would be deleted.
- t'jelle Bank reserved the right to freeze user account without warning if it user planned to cause t'jelle Bank, t'jelle, its companies or any of its subsidiaries harm.
- Any account holder could request their account summary at any time
- User restrictions and perks may change depending on his/her credit rating
- Foreign currency gained .25% interest Bi-Monthly when allowed in user account
- t'jelle Bank reserved the right to refuse any deposit on the basis of:
- Currency type
- Account standing
- Bank standing
Very little information was recorded during the first few months of t'jelle Banks creation. During the beginning however, the main banks in eRepublik were [t'jelle Bank]] and The Authority Bank of Commerce (ABC). Both attempted to gain as many depositors and borrowers as possible. At the time t'jelle Bank offered 5.5% bi-monthly compared to ABC's 3.25% monthly. By the second month however, t'jelle Bank increased the interest to 5% monthly. t'jelle Bank approached ABC with the proposal of starting the International Credit Ranking Standard which would assist in assessing the risk of loans. ABC approved and the ICRS was created.
WWIII / August 2009
With the onset of World War III, t'jelle Bank was forced to expand its sights outside of the US. Several marketing campaigns were released and soon, t'jelle Bank had over 100 depositors and over 1,000 Gold in deposits. Loan requests were filling the bank's inbox and interest rates skyrocketed to 10% monthly. During this time, several new banks opened in the game, started by fairly new citizens with very little capital.
August 2009 - January 2010
t'jelle Bank saw enormous growth during these months, quickly becoming the largest bank in eRepublik with over 5,000 Gold in deposits and nearly 300 depositors. t'jelle Bank also began dealing with government deals and was able to secure numerous financial deals with the US government. During a large "bank ban" by the admin that included numerous other banks, t'jelle was able to show its ability to remain secure even after losing an entire vault by spreading risk throughout numerous orgs and assets.
All organization's assets have been transferred to its owner Anaros.