Transaction Accounts

 

Transaction Accounts are the basic accounts provided to all clients of GCB, and for are securely storing credits for routine use. These types of accounts are used for ‘on demand’ requirements such as transferring credits and loan repayments, bond market purchases, transfers to accounts held by other people or groups, and making purchases through GCB’s affiliates.

GCB’s Transaction Accounts come with a variety of options for different types of use and customer focus, but all are secure, safe, and guaranteed.

 
BRONZE

The most basic transaction account for people with low usage and number of transactions. No minimum amount required to keep the account open.

Client Type: Individual

Account Minimum: 0cr
Account Limit: 50,000,000cr
Interest Rate (APY): 10%

Free Withdrawals: N/A
Withdrawal Fee: 5% per transaction, no cap

SafeTRADE® Included: No
Bond Market Included: No

SILVER

A more advanced transaction account for those people expecting to be undertaking regular transfers and/or trading with benefits of SafeTRADE®.

Client Type: Individual

Account Minimum: 50,000,000cr
Account Limit: 250,000,000cr
Interest Rate (APY): 10%

Free Withdrawals: 1 per month
Withdrawal Fee: 3% per transaction, capped at 1,000,000cr.

SafeTRADE® Included: Yes
Bond Market Included: No

GOLD

A premium transaction account for people that will be undertaking a large number of transfers. Best suited for active merchants and corporations.

Client Type: Individual & Corporate

Account Minimum: 250,000,000cr
Interest Limit: 1,000,000,000cr
Interest Rate (APY): 10%

Free Withdrawals: 3 per month
Withdrawal Fee: 1% per transaction, capped at 500,000cr.

SafeTRADE® Included: Yes
Bond Market Included: Yes

 

Optional Extras

Something you want not included in the account type you want? Then the following optional extras are available, and each applies across all of a Client's accounts:

 

SafeTRADE

500,000cr per month + 1% Transaction Fee

This is GCB’s unique trading system designed to protect people undertaking trades with one another. By using a mutual authentication system that a trade has occurred, this service gives people peace of mind they are not going to be ripped off.

Anonymous Account

5,000,000cr per month

For those individuals wishing to keep their identity private when either sending or receiving with their transaction account, this extra is a must. While linked to your Client Account within GCB’s online system, when applied to an account, this feature ensures that credits sent from or to your account do not display the Client Account information in the other person’s records. All they see is the Account ID information, but they will have no means of identifying who the account belongs to.

Account Interest

 

Accounts accrue interest on a monthly basis.

Interest rate is represented by APY, the Annual Percentage Yield. The monthly interest rate is represented by: (1 + APY)(1/12) - 1


APY: 10%

 

The monthly rate is calculated based on the Average Daily Balance (ADB) of your account. This is determined by: (sum of account at end of every day of month) / (number of days in month)

The interest payment is calculated as (Interest Rate) * (Average Daily Balance). Payments are based on the ADB, not on the balance at the time interest is run.