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Banks

Banks store gold, issue letters of credit and provide loans. Deposited gold earns no interest. Banking reduces the weight of carried coins and protects deposited gold from the normal death penalty.

Using a bank

Enter a bank, speak to the banker and choose Banking.
Check the account balance, carried gold and any outstanding loan.
Choose a transaction, enter a whole number of gold and confirm. Depositing letters of credit takes all letters in your pack after confirmation.

Mode	Where deposited gold is available
Online	Every Bank of the Empire branch uses the same character's gold account.
Offline	Banks in the same region share an account; another region has its own balance.

An online gold account belongs to the character. Silver is shared across your online account's characters and follows separate rules. Offline, gold deposited in Daggerfall cannot be withdrawn in Wayrest Map.

Deposits and withdrawals

Transaction	Funds used	Result
Deposit gold	Carried coins first; wagon gold covers any shortfall.	Adds the deposited amount to the bank balance.
Withdraw gold	Bank balance.	Pays coins into your purse; the full amount must fit your carrying limit.
Deposit letters	All letters of credit in your pack.	Credits their remaining face values and removes the letters.
Obtain a letter of credit	Bank balance.	Creates a letter for the requested face value.

Gold deposits, coin withdrawals and letter deposits have no transaction fee. Letter issue fees are listed below. If you have defaulted on an online loan, new deposits of gold or letters pay the defaulted debt first.

Each gold coin weighs 0.0025 kg. A bank refuses an overweight withdrawal rather than paying part of it; withdraw less or use a Letter of Credit.

Carried gold (coins)	Coin weight (kg)
400	1
1,000	2.5
10,000	25

The normal online respawn takes 10% of carried coins, rounded down. Bank deposits and letters of credit are excluded. The same coin loss applies to an offline respawn through Enduring.

Interest

Funds	Interest	When it applies
Deposited gold	None	Waiting does not increase the balance.
Borrowed gold	10% of the amount borrowed, rounded down to whole gold.	Added to the debt immediately when the loan is issued.

Loan interest does not accrue daily or compound. Repaying early does not reduce the original charge. See Loans for limits, repayment and default rules.

Letters of credit

A Letter of Credit carries a stated gold value without the weight of the equivalent coins. The letter is still an inventory item with its own weight; The Wallet groups it with your other currencies.

Rule	Value
Minimum face value when issued by a bank	100 gold
Issue fee	1% of face value
Total debited from the bank balance	Face value plus the fee, rounded down to whole gold
Deposit value	The letter's remaining face value

Calculated examples:

Letter face value (gold)	Bank fee (gold)	Total bank debit (gold)
100	1	101
1,000	10	1,010
10,000	100	10,100

Payments that accept letters of credit can spend part of a letter and leave its remaining value on the same letter. Redeeming a letter at the bank adds its remaining value to the account; withdraw coins separately if you need them.

Other services

Service	Bank access
Loans	Borrow into the bank account or repay using carried funds and the bank balance.
Spending and exchanging silver	Online banks buy silver for gold paid into the bank account.
Homes	Online houses are bought at their front doors; the bank's house-purchase service is for offline play.
Ships	A bank in a port town can sell you a ship.

Silver exchange	Value
Gold paid per silver	8
Silver sale limit per day	300
Maximum gold from that daily limit	2,400

The bank does not sell silver for gold. See Gold, silver and banks for the wider currency reference.

Banking and transaction rules checked against Update 0.0.466.

Sources (13)