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A Bank is a place where you can deposit gold and do other financial transactions. Almost every region in the Iliac Bay has its own bank.
- Account: Unlike subsequent Elder Scrolls games, gold in Daggerfall is not weightless; 400 gold pieces have a weight of 1kg. Therefore, the amount you can carry at one time is limited by your strength, and it is necessary to visit banks periodically to deposit the gold that you have accumulated during your adventures. The account is free, but banks from different regions are not connected with each other. That means, for example, you cannot access your account at the Bank of Daggerfall when you are in Sentinel.
- Letter of Credit: If you want to transfer gold from one region to another, or if you need more gold that you can carry, you need to obtain a letter of credit. The letter's value is defined when it is certified at a bank. The administrative charge for certification is equal to 1% of the letter's value. Therefore, if you request a 100,000 gold letter, 101,000 gold will be deducted from your bank account. A letter of credit weighs only 0.25 kg, is automatically reduced in value by the appropriate amount when used for purchases, and is accepted as a means of payment in nearly all situations. Some services, such as taverns, will only accept cash.
- Loan: You can borrow up to 1,100,000 gold from a bank. You can only have one loan from a region's bank at any time. The loan must be paid back within a year (360 days) with 10% interest. If you do not pay back your debt on time, your reputation in the region may drop by five points. After about a month, your reputation will go up one point, but will not improve further until you do something to improve your regional reputation. In addition, you cannot get a new loan until you pay back the old one.
Note: In-game text indicates that if you do not pay back your debts on time, you will be pursued by headhunters sent by the bank. However, this does not appear to be the case.
- Buy/Sell House: In every town or city where there is a bank, you can purchase one of many different homes. The cost of buying homes is extremely high, with the cheapest homes costing over 300,000 gold. If you own a house, you can sell it back to the bank at a significantly reduced price. Houses acquired through knightly order quests can also be sold. Only one home may be owned at a time.
- Buy/Sell Ship: If the bank is located at a seaport, you may also buy a ship. Two types of ships are sold: the smaller variety costs 100,000 gold, while the larger variety costs 200,000 gold. A ship can be sold back to any bank (even in cities that are not seaports) for a lower price. Only one ship may be owned at a time.