Transaction Accounts are the basic accounts provided to all clients of GB, 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 GB’s affiliates.
GB’s Transaction Accounts come with a variety of options for different types of use and customer focus, but all are secure, safe, and guaranteed.
The most basic transaction account for people with low usage and number of transactions. No minimum amount required to keep the account open.
Account Minimum: 0cr
Activity Requirement: Once Per Year
A more advanced transaction account for those people expecting to be undertaking regular transfers and/or trading with benefits of SafeTRADE®.
Account Minimum: 50,000,000cr
Activity Requirement: Once Per Year
A premium transaction account for people that will be undertaking a large number of transfers. Best suited for active merchants and corporations.
Account Minimum: 250,000,000cr
Activity Requirement: Once Per Year
Accounts accrue interest on a monthly basis.
Interest rate is represented by APY, the Annual Percentage Yield. The monthly interest rate is represented by: (APY / 12)
APY: 10%
The monthly rate is calculated based on the Average Daily Balance (ADB) of your account, up to a maximum of 1 billion (1,000,000,000) credits. The ADB 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.