{"id":475,"date":"2017-03-12T08:50:29","date_gmt":"2017-03-12T08:50:29","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=475"},"modified":"2017-04-01T18:55:47","modified_gmt":"2017-04-01T18:55:47","slug":"nordebank-review","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=475","title":{"rendered":"NordeBank — Review"},"content":{"rendered":"

This is \u00a0SCAM project already! Do not invest there anymore!<\/strong><\/p>\n

According to its website, NordeBank <\/a>is \u201ca part of the biggest financial services group NORDE ASA in Norway, 34 percent of the company\u2018s shares belong to the Norwegian government.\u201d \u00a0It goes on to say that \u201cNORDE ASA is part of Norway\u2019s 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.\u201d<\/p>\n

This is somewhat confusing if you read it closely.\u00a0 It says that NordeBank<\/a> is part of Norde ASA which is the largest financial services group in Norway.\u00a0 Then it says that Norde ASA is part of the largest financial services group in Norway.\u00a0 I think this is a typo and they do NOT mean that Norde ASA is a part of anything else.\u00a0 So, it looks like NordeBank<\/a> is a bank and it operates this website.\u00a0 Also NordeBank<\/a> is a part of Norde ASA which is a leader in finance in Northern Europe.\u00a0 We do not know much about Norde ASA except that 34% of the company\u2019s shares belong to the Norwegian government.<\/p>\n

We are told that NordeBank<\/a> has four members on their supervisory council and then the website lists six of them.\u00a0 Not very good accounting for a bunch of bankers.\u00a0 It also appears that they might be directors of Norde ASA rather than Nordebank<\/a>.\u00a0 However, at least for one of them is because it is clearly stated that he works for Nordebank<\/a>. \u201cStephen 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.\u201d\u00a0 So, he has worked for NordeBank<\/a> in a management position since 2010.<\/p>\n

Most curious is that the company is incorporated in England.\u00a0 I thought it was Norwegian!\u00a0 To make matters even more confusing, it was incorporated on February 3, 2017, barely a month ago.\u00a0 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 <\/a>for years — at least Mr. Schueneman has.\u00a0 Furthermore, there is only one shareholder in this bank and he purchased the single share for 1 GBP. \u00a0(The 34% of the shares owned by the Norwegian government are from Norde ASA rather than NordeBank<\/a>.)\u00a0 Neither the articles of incorporation or the share certificate shown on the website are signed.\u00a0 So, in their form as shown, they have no legal authority.\u00a0 Finally, the articles of incorporation appear to be \u201cboiler plate.\u201d\u00a0 There is nothing written in them that appears to be unique to this company.\u00a0 These articles could have been cut and pasted from anywhere.\u00a0 Is this the way a bank does business?<\/p>\n

To make matters still worse, the website claims that NordeBank<\/a>, 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.”\u00a0 This is simply too much to believe and probably shouldn’t be in the website.<\/p>\n

The only way that all this makes some sense is if the directors given in the website work for Norde ASA and if NordeBank <\/a>is, indeed, a one man show running this website and operated by the single shareholder as some sort of investment subsidiary Norde ASA.\u00a0 But, the user of the website shouldn\u2019t have to figure all this out. It should be clearly laid out for him in understandable terms.\u00a0 It would be wonderful if the Admin of this program would give the website a major rewrite at least addressing these issues.\u00a0 These are the ones that jump out at me.\u00a0 There are probably more.\u00a0 Coincidentally, this relates to the most recent article in The Emily News HYIP Insights<\/em> which deals with the \u201clegend\u201d or story that a HYIP creates about the company it is representing.\u00a0 Oftentimes these legends are so poorly written that they almost become works of fiction.\u00a0 At other times, they are cleverly written in order to deceive the reader and, in that case, they are also works of fiction.\u00a0 I will let you decide what to think about the legend for NordeBank<\/a>.\u00a0 You can read the HYIP Insights<\/em> article here<\/a>.<\/p>\n

But, assuming that you can get past all this, let\u2019s take a look at the NordeBank <\/a>investment plans.\u00a0 There are four of them and they all refund your deposit at the end of the investment period.\u00a0 They all have the same unlikely maximum investment limit of $100,000.\u00a0 The plans have interesting names.\u00a0 They sound like terms bankers might toss around when they chat with one another.\u00a0 Here\u2019s a quick summary of the four plans:<\/p>\n

Leasing<\/strong>
\n2.0% daily for 15 days
\nMinimum $25<\/p>\n

Factoring<\/strong>
\n2.5% daily for 30 days
\nMinimum $500<\/p>\n

Real Estate<\/strong>
\n3.0% daily for 60 days
\nMinimum $1,000<\/p>\n

Start Up<\/strong>
\n3.5% daily for 100 days
\nMinimum $10,000<\/p>\n

First of all, given these interest rates, NordeBank <\/a>is certainly not your typical bank.\u00a0 In the USA, banks will only pay you one or two percent per YEAR on your deposits.\u00a0 So, NordeBank <\/a>clearly knows something they don\u2019t know.\u00a0 I wonder what this bank does that makes it so much more successful than the rest of them.<\/p>\n

But, again, let\u2019s look at the investment plans.\u00a0 I\u2019ve repeated them again, but this time I\u2019ve 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).\u00a0 It\u2019s important to remember that you will also receive your principal back IN ADDITION TO the interest that you will earn.<\/p>\n

Leasing<\/strong>
\n2.0% daily for 15 days
\nTotal interest paid in 15 days = 30%
\nDoesn\u2019t break even in term of plan
\nMinimum $25<\/p>\n

Factoring<\/strong>
\n2.5% daily for 30 days
\nTotal interest paid in 30 days = 75%
\nDoesn\u2019t break even in term of plan
\nMinimum $500<\/p>\n

Real Estate<\/strong>
\n3.0% daily for 60 days
\nTotal interest paid in 60 days = 180%
\nBreak even in 34 days
\nMinimum $1,000<\/p>\n

Start Up<\/strong>
\n3.5% daily for 100 days
\nTotal interest paid in 100 days = 350%
\nBreak even in 29 days
\nMinimum $10,000<\/p>\n

As an example of how this would work, suppose you invested $100 in the \u201cLeasing\u201d plan.\u00a0 This plan would pay you interest of 2% or $2 per day for the 15 day investment cycle.\u00a0 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 \u201cinstantly\u201d — which they say means within a few minutes.\u00a0 The total interest you will earn over the 15 day period will be 15 times this or $30.\u00a0 This is your profit.\u00a0 In addition you will get your $100 investment back at the end of the 15 day period.<\/p>\n

As a second example, suppose you invest $1,000 in the \u201cReal Estate\u201d plan.\u00a0 In this case you would receive 3% interest per day or $30.\u00a0 By the end of the 60 day period you will receive 30 times this or $1,800 (60 x 30).\u00a0 Of course, you can withdraw your daily interest as soon as it is posted in your account.\u00a0 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).\u00a0 And, like in the previous example, at the end of the 60 day period, you will get your investment of $1,000 back.\u00a0 The $1,800 in earnings is pure profit.<\/p>\n

Nordebank <\/a>members can increase their earnings by recruiting additional members.\u00a0 The Nordebank <\/a>\u201cAffiliate\u201d program is quite lucrative paying 8%, 3%, and 2% on the first three levels.\u00a0 Their \u201cRepresentative\u201d program pays even more: 12%, 3%, and 2% on the first three levels.\u00a0 In order to become a representative, your downline team has to consist of \u201cat least 50 users with active deposits.\u201d<\/p>\n

The list of payment processors available to investors in NordeBank <\/a>is quite satisfactory and consists of PerfectMoney, Payeer, AdvCash, and Bitcoin.<\/p>\n

Support is by means of a support ticket system.\u00a0 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.\u00a0 There is also live chat that operates during England business hours.\u00a0 I did not test it to verify that it works.<\/p>\n

In closing, it might again be appropriate to repeat the Emily News<\/em> policy with respect to reviewing a HYIP.\u00a0\u00a0 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.\u00a0 However, we DO look carefully at the information that is given in the HYIP website and, as we did in the case of NordeBank<\/a>, point out statements that don\u2019t make sense or appear to be deceptive.\u00a0 We regard this as our duty to our readers.\u00a0 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.\u00a0 We provide the info; you make the decision.\u00a0 It\u2019s as simple as that.\u00a0 So, in the case of NordeBank<\/a>, as is the case with any HYIP, you should carefully weigh the pros and cons and decide which way to go.\u00a0 And, as usual, our advice is always \u201cnever to put all your eggs in one basket\u201d but, rather, to diversify your investments over a number of programs.\u00a0 Good Luck!<\/p>\n","protected":false},"excerpt":{"rendered":"

This is \u00a0SCAM project already! Do not invest there anymore! According to its website, NordeBank is \u201ca part of the biggest financial services group NORDE ASA in Norway, 34 percent of the company\u2018s shares belong … NordeBank — Review<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":499,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reviews","exalt-entry"],"yoast_head":"\nNordeBank - Review - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=475\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NordeBank - Review - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"This is \u00a0SCAM project already! 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