(Year 234, Fall) Kingdom of Mazaloom now gets its first national bank: Maz Bank. In the past, Sim City First Trust Bank (SimNation) operated our nation, with offices in most regions. But now their organization covering Mazaloom has been separated from the main consern, renamed and sold. Maz Bank is reality!
Mr Robert Sutton (59) has been the CEO of Sim City First Trust Bank's affairs in Mazaloom up to now. He served the Magnolia Promenade office for two decades, but will now be CEO of Maz Bank instead. The office will be renamed, but most customers will not notice many changes beyond the new logo.
- While my workday won't change a lot, this is mainly a great step up for our nation! In the past there were several smaller banks coming and going, mostly serving regionally, only. It's on time that we get a national bank that is not a branch controled by a foreign nation.
Will our deposits be safe?
- Of course! Everything will be the same for now, only the bank name and logo will change. Whatever happens next year we must get back to, but I don't expect anything specific that would not happen anyway. Interest will not change because of the transfer. If your balance is more than §25,000 you will still get 1% interest added every year on the last day of Winter. Balance above §100,000 will secure you even higher interest. Bank loans are often based on individual conditions, so I can't say much more than there won't be immediate changes.
A national bank provides easier ways to transfer money between households, and payments repeated annually can now be automized in a much more effective way. This might sound elementary, but fact is that the administration was rather limited in the past.
Mr Sutton explains that all bank accounts will get transferred to the new Mazaloom Bank this Fall, and confirms that interest of both deposits and loans will stay unchanged at least for the near future. What is new is that customers automatically get a new product depending on their account balance.
- That is correct. No need to open multiple accounts, you simply get the deal that is intended for your total account balance level. We want to keep it simple. Our website will be up shortly, right now some more programming need to be done. When all is ready you can go online to look up all your transactions and also see what deal you sort under.
Will it be harder to get a bank loan?
- Perhaps. The new system is depending more on the bank's total funds. Maz Bank is smaller than Sim City First Trust Bank, and we have a few more factors affecting our abilities, like the sum of deposits and loans. The sum of deposits must be bigger than the sum of loans, for us to loan out more money. If there are available funds, we will make sure to help customers with a bank loan. Because of this it is also more important that those actually loaning money, do pay back as agreed - normally over 10 years like before, for others to benefit from a loan. If loans are not paid, less funds will be available for others to loan. We want transparency, so the status of our total funds will be presented on our web site.
Will there be any new bank offices?
- Not at this time. Our main office is at Fashion District in San Myshuno, and we will keep the branch office at Magnolia Prominade. Because most contact will be online, no other offices are planned at the moment.
If you had a bank account with Sim City First Trust Bank, you shall have received all the information you need. If you prefer to stay with Sim City Bank, you must take action. If not, your account will transfer within the end of this year. Transaction details will not transfer though, so on your new account you will only see the balance that was transferred.
We welcome Maz Bank!
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