De West-Indisch Bank

#1

Following a surprise proposal in the Council of Governors that passed with an overwhelming majority, one of the members of the Heeren XIX, Jacob Semach, has called a press conference. The conference is translated into several major languages, including English, Nordish, French (both Free and Communist versions), [whatever language they speak in the European Republic], and several others.

"Good morning ladies and gentlemen. My name is Jacob Semach, I am one of the Nineteen Gentleman on the board of the West India Company, or the GWC. As some of you might be aware, recently some legislation passed in Mauritsland with regard to the establishment of De West-Indisch Bank, or The West Indies Bank for our international audiences. This banking system is open to all people throughout the world equally, and is owned by the GWC. Some of the benefits of this bank includes the privacy of bank transfers, secure bank safety boxes, trusted banking officials who have gone through several years of training and complete background checks, among several other features. We also have a ranked fee system, where the more money in your account, the less fees you are charged. Our online systems will be operational within 24 hours, and our physical space will be operation later this month in Mauritsstad, and within 6-12 months in Salvador, Frederikstad, Nieuw Amsterdam, Saint Louis, Fort Schoonenborch, and Nieuw Utrecht. For those interested in opening accounts with us you can go to our website, where we provide all the information needed in a new portal, or later today you can navigate to the new website, wib.gwc, where you will find instructions on how to register."

As soon as he finishes his speech, several hands raise as the press is eager to ask questions. Jacob points to one gentleman, picking him.

"Tell me, does this new bank system have anything to do with the fact that you are Jewish?" The news agent asks in Portuguese, resulting in a few boos at his not-so-subtle anti-Semetism.

Ignoring the question, Jacob points to another person in the audience, this one being a young female. "Yes, I'm curious about rumours that you do not have to pay tax on accounts with this bank, can you confirm this?"

Jacob smiles slyly. "Those are just rumours, I'm afraid. All accounts will be subject to Mauritslander tax requirements, the same goes for international accounts. Next question."

Yet the lady is stubborn and asks a followup. "I understand that Mauritslander law has no explicit requirements for tax payments over a certain amount in bank accounts. What can you say to this?"

Jacob shrugs in response. "De West-Indisch Bank complies with Mauritslander laws. If you have an issue with our laws you need to take them up with the Stadtholder. Next."

An older man with greying hair asks the next question. "How much will it cost to open an account?"

"Fees and all other information can be found on our website. As far as I recall, it is 12 Guilders to start an account with the WIB." Just then an aide whispers something to Jacob, who nods. "I'm afraid that's all I have time for today ladies and gentleman! Remember, you can sign up with the West-Indisch Bank within 24 hours online or by the end of the week at our Mauritsstad location, and within 6-12 months are our other locations throughout Mauritsland. Thank you all, and have a great day!" With that, he steps away from the podium and returns to his regular business.

For those who go online to view the terms and conditions they would find the following information:

De West-Indisch Bank Terms:
- Taxes will not be charged on accounts with more than 2.5 million Guilders, or the equivalent in other currencies
- Accounts can be opened in any currency
- Accounts can be opened by anyone, regardless of citizenship
- Opening an account costs 12 Guilders, or its equivalent in other currencies
- Bank transfers into or out of the WIB are classified and will not be shared with any other entities
- The bank uses the latest in cyber technology for security and protection
- Your information will not be shared with the government, except for tax purposes
- Funds held in the bank will not be reported to foreign governments under any circumstances
- Users have to pay a monthly fee, starting at 5%, going down to 2.5% when users have more than 5,000 Guilders, dropping to 1% over 1 million Guilders, and to 0 over 2.5 million Guilders
- Users receive an interest rate of 2% on amounts up to 5 million Guilders, 1% on amounts between 5 million and 1 Guilders up to 20 million Guilders, and 0% over 20 million Guilders
- Students and those under 18 may open free accounts, and pay no fees until they graduate or turn 18

Safety Deposit Boxes:
- The bank offers safety deposit boxes in its physical locations
- These safety deposit boxes are held in a secure location, with guards and officials being trained for 3 years, as well as having undergone full background checks
- Guards and officials have also signed NDAs
- Safety deposit boxes can only be opened by keys held by the user and the bank itself, the user will receive their copy to carry with them, and the bank will hold the other copy for when the user visits the bank
- Any items can be stored within the boxes with no questions asked
- Anyone may use the safety deposit boxes, regardless of nationality or political ideology
- The bank provides a secure location to open the boxes, one with no security cameras, thick walls to prevent listening devices and cell coverage, and locking doors to ensure privacy
- The bank utilizes retina scans and iris recognition to confirm identities of holders of safety deposit boxes
- Safety deposit boxes can be purchased by individuals, companies, and even nations, without discrimination
- Purchasing a safety deposit box has a one time fee, and subsequent annual fees, varying based upon the size

The website also includes a photograph of the physical building in Mauritsstad, as well as its location. The building is an old GWC building from the 1800s. There is also a disclaimer that the safety deposit boxes will not be ready for use for up to one month following the opening of the physical building.

#2

After several hours of intensive coding and programming, the online bank system goes live later that afternoon. The launch goes well, with users signing up from throughout Mauritsland. Several universities also sign onto the program, making deals to prioritize the WIB over other banks for students. The GWC also provides all its employees, including employees working for subsidiary companies, with free accounts and no fees, as a benefit of employment. Employees are free to keep their accounts upon leaving the GWC, but will have to start paying fees again.

By the end of the week the physical building in Mauritsstad opens to the public, featuring atms, tellers, and all the usual features of a bank. Although the safety deposit boxes are not ready at the time of opening, there are still several people from Mauritsland who make purchases for the safety deposit boxes. Among them are several high ranking government officials. Behind the scenes work is underway on installing the equipment and software for the safety deposit boxes, to ensure that they are secure and secrecy is guaranteed. Once the security features for the safety deposit boxes have been completed, which includes lining each box with lead, and the assistants, guards, and tellers have been hired and trained in discretion, the safety deposit boxes open to the public as well.

#3

Finally, after much work and effort, the branches of the West-Indisch Bank open in the other major cities of Salvador, Frederikstad, Nieuw Amsterdam, Saint Louis, Fort Schoonenborch, and Nieuw Utrecht. The safety deposit boxes, having been opened much earlier in the Mauritsstad location, also open in all other branches throughout the nation on their official openings. With the banks officially open for full public use, the GWC has transferred all employees to accounts run by the bank. Many government officials, especially high ranking ones, also open accounts with the WIB for professional reasons.

A few slight additions to the banks terms have also been added:
- There are no fees for using bank cards in foreign nations or in foreign currencies. Conversion rates being offered will be the best ones available, with the bank charging no fee for the conversion.
- Users will be offered the choice of all available card types, so that if they are travelling to a nation that uses a less common bank card, they will not encounter any issues. They are free to take multiple or switch between cards at their leisure, as they are all connected to the same account. Common standard security features apply to all cards.

Infinitos Mundos