The Common Credit (Œ) is an exchange currency minted by the Common Bank, based in Xanthal, and sold to individuals and organizations for a stable fiat currency. It is distributed and stored electronically in Common Bank computers. Having Common Credits (or simply “Credits”) is useful for two purposes. First, it is an easy way to take money across state borders. Anyone with Credits can retrieve their balance in any country that hosts a branch of the Common Bank. Second, it is cheap and efficient to transfer Common Bank balances between accounts regardless of national boundaries; making the Credit a choice method of payment between importers and exporters.
Transfers of Common Credits between accounts can be authorized through a variety of mediums depending on the laws of the countries concerned. In restrictive cases, a transfer of Credits can always be authorized in person at any public Common Bank office. A few businesses, including many import and export companies, accept payment in Common Credits, but in most cases Credits must be exchanged for local currency for spending within a country.
The Common Bank sets guidelines for its Member states to ensure individuals and businesses in those countries can readily obtain and redeem Credits. Accounts can be held by parties outside Member nations, but non-Member states may not keep Credits on reserve or may restrict their exchange. When dealing with non-Members, it is important to consult local law before attempting to buy, sell, or transfer Credits.
The value of the Common Credit is Œ1.00 = €1.00
Common Credits are known to be obtainable and redeemable in the following states:
- Alcona and Hubris
- Anagonia (Member)
- Arizona Nova (Member)
- CoreWorlds (Member)
- Draconis Nightcrawlis (Member)
- Maraque (Member)
- New Dornalia (Member)
- Northrop-Grumman (Member)
- Pschycotic Pschycos (Member)
- The Humankind Abh (Member)
The following companies are known to use the Common Credit for international transactions: