09-18-2010, 02:29 PM
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It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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No, you must be a bank or have a licensed security to sell to pay interest to the public-at-large.
In the US there are legal provisions for individuals to pay or receive interest on a limited number of purchase contracts. A seller of goods may finance his goods and charge interest as allowed by his state's usury laws.
ePassporte is not a bank, and to the best of my knowledge, has no licensed securities to issue ? it would be unlawful to pay interest. US Banks pay like 1.5% to 1.8% PER YEAR on demand deposits (checking account, money market accounts.)
If you expect interest ? deposit your money in a bank account.
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