This is SCAM project already! Do not invest there anymore!
According to its website, NordeBank is “a part of the biggest financial services group NORDE ASA in Norway, 34 percent of the company‘s shares belong to the Norwegian government.” It goes on to say that “NORDE ASA is part of Norway’s largest financial services group. According to market capitalization NORDE ASA group is second largest in the Northern Europe region that dominates in the areas of loan, deposit, real estate management, life insurance, pension funds and payments. NORDE ASA is also a leader of financial services associated with money, stock and real estate markets. We are the largest real estate management company with around 500,000 investment funds clients. NORDE ASA is one of the largest shipping sector financiers in the world, a partner of sea food industry and worldwide energetics market.”
This is somewhat confusing if you read it closely. It says that NordeBank is part of Norde ASA which is the largest financial services group in Norway. Then it says that Norde ASA is part of the largest financial services group in Norway. I think this is a typo and they do NOT mean that Norde ASA is a part of anything else. So, it looks like NordeBank is a bank and it operates this website. Also NordeBank is a part of Norde ASA which is a leader in finance in Northern Europe. We do not know much about Norde ASA except that 34% of the company’s shares belong to the Norwegian government.
We are told that NordeBank has four members on their supervisory council and then the website lists six of them. Not very good accounting for a bunch of bankers. It also appears that they might be directors of Norde ASA rather than Nordebank. However, at least for one of them is because it is clearly stated that he works for Nordebank. “Stephen Schueneman worked in NORDE ASA from 1999 – 2008 as the Head of Branch Department, and then after two years in AS BM bank in Ukraine Stephen Schueneman returned in NORDEBANK as the Head of Operations.” So, he has worked for NordeBank in a management position since 2010.
Most curious is that the company is incorporated in England. I thought it was Norwegian! To make matters even more confusing, it was incorporated on February 3, 2017, barely a month ago. However, as I just pointed out, the listing of the members of the board of directors implies that some of them have been working at NordeBank for years — at least Mr. Schueneman has. Furthermore, there is only one shareholder in this bank and he purchased the single share for 1 GBP. (The 34% of the shares owned by the Norwegian government are from Norde ASA rather than NordeBank.) Neither the articles of incorporation or the share certificate shown on the website are signed. So, in their form as shown, they have no legal authority. Finally, the articles of incorporation appear to be “boiler plate.” There is nothing written in them that appears to be unique to this company. These articles could have been cut and pasted from anywhere. Is this the way a bank does business?
To make matters still worse, the website claims that NordeBank, which is only a month or so old and appears to be a one man show, also has two subsidiary companies — “NORDE LEASING and IPAS NORDE Asset Management.” This is simply too much to believe and probably shouldn’t be in the website.
The only way that all this makes some sense is if the directors given in the website work for Norde ASA and if NordeBank is, indeed, a one man show running this website and operated by the single shareholder as some sort of investment subsidiary Norde ASA. But, the user of the website shouldn’t have to figure all this out. It should be clearly laid out for him in understandable terms. It would be wonderful if the Admin of this program would give the website a major rewrite at least addressing these issues. These are the ones that jump out at me. There are probably more. Coincidentally, this relates to the most recent article in The Emily News HYIP Insights which deals with the “legend” or story that a HYIP creates about the company it is representing. Oftentimes these legends are so poorly written that they almost become works of fiction. At other times, they are cleverly written in order to deceive the reader and, in that case, they are also works of fiction. I will let you decide what to think about the legend for NordeBank. You can read the HYIP Insights article here.
But, assuming that you can get past all this, let’s take a look at the NordeBank investment plans. There are four of them and they all refund your deposit at the end of the investment period. They all have the same unlikely maximum investment limit of $100,000. The plans have interesting names. They sound like terms bankers might toss around when they chat with one another. Here’s a quick summary of the four plans:
Leasing
2.0% daily for 15 days
Minimum $25
Factoring
2.5% daily for 30 days
Minimum $500
Real Estate
3.0% daily for 60 days
Minimum $1,000
Start Up
3.5% daily for 100 days
Minimum $10,000
First of all, given these interest rates, NordeBank is certainly not your typical bank. In the USA, banks will only pay you one or two percent per YEAR on your deposits. So, NordeBank clearly knows something they don’t know. I wonder what this bank does that makes it so much more successful than the rest of them.
But, again, let’s look at the investment plans. I’ve repeated them again, but this time I’ve added the total interest paid by the end of the plan term as well as the number of days to break even (assuming you will break even within the term of the plan). It’s important to remember that you will also receive your principal back IN ADDITION TO the interest that you will earn.
Leasing
2.0% daily for 15 days
Total interest paid in 15 days = 30%
Doesn’t break even in term of plan
Minimum $25
Factoring
2.5% daily for 30 days
Total interest paid in 30 days = 75%
Doesn’t break even in term of plan
Minimum $500
Real Estate
3.0% daily for 60 days
Total interest paid in 60 days = 180%
Break even in 34 days
Minimum $1,000
Start Up
3.5% daily for 100 days
Total interest paid in 100 days = 350%
Break even in 29 days
Minimum $10,000
As an example of how this would work, suppose you invested $100 in the “Leasing” plan. This plan would pay you interest of 2% or $2 per day for the 15 day investment cycle. You can either withdraw your earnings as they appear (assuming they are above the minimum withdrawal amount) and they will appear in your payment processor account “instantly” — which they say means within a few minutes. The total interest you will earn over the 15 day period will be 15 times this or $30. This is your profit. In addition you will get your $100 investment back at the end of the 15 day period.
As a second example, suppose you invest $1,000 in the “Real Estate” plan. In this case you would receive 3% interest per day or $30. By the end of the 60 day period you will receive 30 times this or $1,800 (60 x 30). Of course, you can withdraw your daily interest as soon as it is posted in your account. In this plan, since your earnings are more than your investment amount, you will break even before the end of the plan — in only 34 days (1,000/30). And, like in the previous example, at the end of the 60 day period, you will get your investment of $1,000 back. The $1,800 in earnings is pure profit.
Nordebank members can increase their earnings by recruiting additional members. The Nordebank “Affiliate” program is quite lucrative paying 8%, 3%, and 2% on the first three levels. Their “Representative” program pays even more: 12%, 3%, and 2% on the first three levels. In order to become a representative, your downline team has to consist of “at least 50 users with active deposits.”
The list of payment processors available to investors in NordeBank is quite satisfactory and consists of PerfectMoney, Payeer, AdvCash, and Bitcoin.
Support is by means of a support ticket system. It appears to be a bit more sophisticated than the typical email type support in that the tickets are given numbers, you can track them, you can research old ones, etc. There is also live chat that operates during England business hours. I did not test it to verify that it works.
In closing, it might again be appropriate to repeat the Emily News policy with respect to reviewing a HYIP. First of all, we always start out by assuming that what a company says about its source of funds is true; we give it the benefit of the doubt. However, we DO look carefully at the information that is given in the HYIP website and, as we did in the case of NordeBank, point out statements that don’t make sense or appear to be deceptive. We regard this as our duty to our readers. However, all this said, it is still up to the reader to make his own decision as to whether or not to invest with a company. We provide the info; you make the decision. It’s as simple as that. So, in the case of NordeBank, as is the case with any HYIP, you should carefully weigh the pros and cons and decide which way to go. And, as usual, our advice is always “never to put all your eggs in one basket” but, rather, to diversify your investments over a number of programs. Good Luck!
