Spera Bank Savings Accounts
Beginning February 2020, Spera will offer our existing and new clients, investors, and the community at large savings accounts. This is a common offering from all of the banks in Orbis, however we've chosen to implement it a little differently.
Rapid Access Savings Account
Anyone who wants to keep their money safe outside of a traditional alliance bank, still make some money off that money, and also be able to access it on a regular basis would likely prefer an RAS account. We guarantee a 24-hour turnaround to access 50% of the total funds, and 7 day turnaround to access the remaining portion. Because this offering mandates that we keep a large portion of your savings "liquid" and readily available, we offer 0.50% interest on the previous week's balance. We determine weeks as beginning on Monday and concluding on Sunday. Please be aware that we require a minimum account balance of $15 million, and a minimum deposit of $15 million.
Standard Access Savings Account
For our more traditional saves, we offer a better rate. We guarantee 7-day turnaround to access 25% of the total funds, and 14-day turnaround to access the remaining portion. Because this offering affords us the ability to lend your money out without significantly worrying about paying it back immediately, we offer 1.00% interest on the previous week's balance. We determine weeks as beginning on Monday and concluding on Sunday. Please be aware that we require a minimum account balance of $15 million, and a minimum deposit of $15 million.
Employee Savings Account
Spera offers a third type of savings account unique to individuals employed by Spera or one of its affiliated companies. We require a 14-day notice for withdrawal, and only Employers may deposit into the account. We more than make up for these limitations by offering an interest rate that is double the Standard Access Savings Account's rate. Due to the nature of these accounts, we do not require a minimum balance, however any withdrawals must be in multiples of 1 million unless the account is being completely withdrawn.
For our clients who are not as concerned about access and are instead looking for a safe place to deposit their money and have it grow, we encourage you to consider Bonds as an alternative.
The Fine Print
- We reserve the right to decline deposits if doing so would put our operation or your money at risk.
- We reserve the right to increase or decrease these interest rates at any time.
- Any change in interest will take effect at the onset of the month. In the event of an overlap, the higher interest rate will be applied for the entire week.
- We will not process a withdrawal for you if you are Blockaded, as doing so could put us in cross-hairs and put our operation at risk.
- If your account becomes problematic for us, we reserve the right to close it. We will work with you to transfer your account to another institution, or directly back to you in a timely manner.