Based in the city of Asdari, this large merchant company handles financial transactions for firms and individuals throughout the country of Achera.
Like many banks, the company was originally set up to exchange currency. This role expanded under the supervision of the Governor of Asdari to searching for forged or forbidden coinage, and generally supervising the circulation of coin in the city. The government soon required the bank to keep their cash and records available for inspection, and to obtain guarantors who would be answerable for their outstanding debts up to a certain amount. In return for these restrictions, the government backed the bankers’ credibility: it recognized entries in their books as legal proof of transactions carried out through them. Somewhat later, it ordered guardians of minors to deposit the ward’s money in a bank.
Some citizens found it convenient to deposit some of their money in a bank account and receive a moderate interest while using the account for receiving and making payments by written transfer in the banker’s book. A reliable depositor was often allowed to overdraw his account within certain limits. The banker, in turn, was entitled to invest in his own trade the deposits of his clients.
Services and Regulations
Depositors may open accounts with the Bank of Asdari with a letter of reference from either another account holder or a reputable citizen of note.
A depositor must make an initial deposit of at least 10 gold pieces in order to begin an account with the Bank of Asdari.
Depositors can expect a bonus of 4% per year on their deposit accounts, payable on the anniversary of their initial deposit.
Reliable depositors may overdraw on their accounts by up to 20%.
In exchange for these services, depositors agree that the Bank of Asdari may use the currency deposited in its own trade exchanges.
The Bank of Asdari also offers the rental of chests to hold valuables and other goods. The rates for this service are as follows:
||1 gp per year
||2 gp per year
||5 gp per year
||10 gp per year
Chest Rental is payable upon each anniversary of their initial deposit. There is also a 25 gp drilling fee for losing one’s key.
Chests may also be transferred from one branch to another. The transfer fee is 5 gp per mile transferred. However, the Bank of Asdari guarantees the safety of your goods and deposits during the transfer. Should mishap occur during the journey, the value of your deposit will be refunded.
For coin accounts, each quarter, the main bank in Asdari sends a copy of the master account ledger to each branch. Should an account holder travel to one of the branches and need to withdraw funds from their account, their name should appear on the master account ledger. If not, correspondence will need to be sent to the main bank to confirm that the person is, indeed, an account holder in order for funds to be withdrawn. This is for the protection of the account holder.
The Bank of Asdari has branches in the following cities: