There are two scams in the name of New Age Bank, both of them are not the real banks. One was NewAge-Bank.com which has already shut down and turned into the scam and another is NewAgeBank.in, so let's talk about NewAgeBank.in first of all.
NewAgeBank.in is nothing but a scam because it is operating an illegal scheme known as a cash gifting scheme. The cash gifting scheme is a combination of two illegal schemes and those are Ponzi and Pyramid schemes about which you can find the details by clicking the following two respective links:-
Ponzi scheme:- newsonlineincome.com/ponzi-scheme/
Pyramid scheme:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/
Sites like NewAgeBank.in is not the first one that we have reviewed. We have already reviewed lots of similar kinds of companies among which some companies have already turned into the scam. So, if you want to know more about cash gifting scams, you can view the reviews on those similar kinds of companies by clicking the respective links as below:-
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NewAgeBank login and join in link:- NewAgeBank.in (Not recommended to join, it's a scam)
So, now it is clear why is NewAgeBank.in a scam, what is NewAgeBank.in in real. So, if you are searching for the NewAgeBank.in reviews in order to find out either is NewAgeBank.in a scam or a legit, then your search ends here because in this NewAgeBank.in review, we had already provided the truth about this site and other similar kinds of sites. However, let's find out more about NewAgeBank.in.
If you check in the "About us" page of NewAgeBank.in, then you will find out that it has mentioned NewAgeBank is not a company and there is no owner and boss. So, will you ever want to put your money where there is no one to control if you have been scammed?
Actually the companies like NewAgeBank.in always make people confuse by pretending to be the donation platform but in reality is an unsustainable illegal scheme. This kind of business never sustains for a long run. Many sites have been already failed which were running this kind of business model which proves this business practically can't sustain for a long time.
The whole business model of NewAgeBank.in revolves around by gifting the cash between the members by making them believe that they are providing the help to each other. But in reality, they are investing the money in this scheme in the name of donation in the return of which those members will earn a profit when other members who join after them invest in this program.
These kinds of companies need the continuous flow of new investment coming into the company and that is also more than the amount that existing members have invested so that they can make profit which is actually not possible because whenever these companies pay one member, they need to use the money invested by two other members due to which each time they pay one member, they create a debt. Like this, the debt will be kept on increasing and the whole system will be collapsed.
On the other hand, it is hard to get the new members continuously. So, the market will be saturated and the last one who joins the system will leave the system and slowly the members from down to up will start to leave the system and at last the whole system will be collapsed.
So, whenever you see the terms like peer to peer donation platform in companies, it is better you run away from those companies because all of them are scams. Legal authorities have already marked these kinds of business models as a scam.
NewAgeBank.in has even used the name of the previous scam known as NewAge-Bank.com. You must know the fact that none of the legit business will open the business using the name which has already a bad reputation. Ya, you may be thinking that maybe they don't know. But, it is very easy to find out if there is any other scam in the name of the business you are going to open or not by searching on Google. If you right now search on Google the term "NewAgeBank", you can find multiple reviews claiming New Age Bank is a scam. So, why anyone who wants to establish long time business will use the name which has been already used by the big scam. This show how much NewAgeBank.in doesn't care about their business.
If you don't know about another scam known as NewAge-Bank.com which had deceived lots of people in the past, then you can find the details on that scam as below. However, our review on NewAge-Bank.com as below is the review before that has turned into the scam. Anyway, our review still gives you an idea how these kinds of companies deceive people.
NewAge-Bank.com is a not a real bank. New Age Bank is a Ponzi scheme which has gone too far to call itself a bank. Why we think it is a Ponzi scheme and not a legal bank? Well, you will find that answer here within our NewAge Bank Review in detail. You will also find the answers of queries like what is NewAge Bank, either is NewAge Bank scam or legit, why are we saying NewAge Bank a Ponzi scheme, either is business model of NewAge Bank legal or not, either is there any negative NewAge Bank reviews or NewAge Bank complaints or not and so on. First of all it is better we stop calling it a bank and only take it as an online work company which fall under illegal Ponzi scheme. So, we have listed it within our Not Recommended online work companies list because in order to recommend any online work companies, the major factors that we consider is their business model which should be sustainable and legal, but in case of NewAge-Bank (Bank NewAge), it is not. For example, you can take a look at our recommended online work companies list by clicking this link:- newsonlineincome.org/legitimate-work-home-businesses/
OR, you can just take a look at our No.1 Online Work Company in order to find out what do we mean by legal and sustainable business by clicking this link:- newsonlineincome.org/wealthy-affiliate-review/
But in case of New Age Bank, their business model is neither a legal, nor a sustainable. Why? OK, in order to find out what is NewAgeBank in real, let's begin with our New Age Bank review as below.
New Age Bank login and join in link:- https://newage-bank.com/ (Not recommended to join)
New Age Bank, which was registered in 2017-02-11, is nothing but a Ponzi Scheme which is fooling people to be a real online bank. But in reality, none of the real bank can give you 200% ROI on your deposit amount within 23 days or 10% commission on your referral purchases. Even if legal banks really start to pay that much interest, their license will be seized by concerned government authorities. More than that, the real bank can make profit only by lending loan, but in case of NewAgeBank, they are not focusing to lend a loan, but just to take a deposit. More than that, to make their business sustainable, they should find the people who are willing to take a loan at the rate more than 100% interest per month. Are you ready to pay 100% interest per month to take a loan? Of course not. So, they are not here to make a real profit by giving loan, but they will just keep on paying existing members by using money invested by new members into their system, completely a Ponzi scheme.
More than that the company which called itself a bank even doesn't dare to declare its owner detail clearly and doesn't provide any information about that in its website. Yep, in their marketing video, they have shown Kai Williams as an Executive Director of the company. But, there is not any legal proof that he is the real owner of the company and if later NewAge-Bank turned into scam, no one catch Kai Williams just because he was in the marketing video of New Age Bank because he can simply say that he was just a performing for marketing video, but haven't any link with a NewAge-Bank.com
However, they have shown their registration document of UK Companies House, but that registration document don't give them any legal authority to open a bank, which is just a registration document for tax purpose which anyone can register within UK Companies House in just 20 GBP for which even no need to provide the real address, but any rental address will be enough. Many Ponzi Schemes have been registered within UK Companies House by renting virtual address and most of them had already tuned into scam which proves that those registration documents can't stop any companies to turn into scam. If you can invest 20 GBP, you can also register company in UK Companies House. It is very easy.
Yep, in that registration document also they have mentioned Kai Williams as an executive director of New Age Bitcoin Ltd., but that doesn't prove he is the owner of New Age Bank because that registration document which they have shown is in the name of completely different company known as NewAge Bitcoin Ltd. which doesn't have any relation with NewAge-Bank.com. So, later on if NewAgeBank turn into scam, they can simply say that website doesn't belong to them and that website was just using their registration document without their consent. More than that, even if Kai Williams is the real owner, then also that doesn't make this business legal because it is not a registered bank and also doesn't make it sustainable because none of the legit bank can survive by paying 100% interest within 23 days.
So, this already proves NewAge-Bank is not a real bank which will just pay at starting in order to lure more people into its system and keep on paying the existing members by using the money deposited by new members as same as in Ponzi Scheme. OH wait, it is actually a Ponzi scheme.
In official website of NewAge Bank, you will find out the details about providing loan to their clients as shown in the screenshot below.
If you observe in the screenshot as above, you will find out the fact that they have mentioned that giving loan is limited to the list of countries. However, taking deposit is not limited to any countries. More than that, if you do the deep reserach like we did, you will find out that there isn't even a one person who has taken loan from this so called bank. So, without giving loan how are they operating their bank just by taking deposit? Of course, like we have said before, by following Ponzi scheme model. If you don't know what is Ponzi scheme, then you can click this link:- newsonlineincome.org/ponzi-scheme/
Aforementioned, it is clear that neither the owner details of New Age Bank is clear nor its business model is legal or sustainable. More than that, you must know the fact that none of the legit bank can afford you to pay 200% within 23 days. That is bogus claim. So, it is clear that they will keep on paying existing members at starting by using the money of new members and once they start to find out that withdrawal amount is becoming more than the deposit amount coming into the system, they will just shutdown their site or simply stop paying. So, there is a huge risk to invest in such kinds of companies, actually we should avoid these kinds of sites. We feel so bad that they are showing cards and pretending to be a real bank due to which many people is falling into this Ponzi scheme. But we suggest all of them to stay out of this Ponzi scheme.
If you want to earn money online, then there are many legit ways and one of them is our No.1 recommended online work company known as Wealthy Affiliate about which you can find details by clicking this link:- newsonlineincome.org/wealthy-affiliate-review/
You can also find our list of recommended online work companies by clicking the link as below:-
However, if your choice is only the easy companies where you can earn money just by investing some money without doing anything and if you are ready to take a risk for that, then you can find those kinds of some popular companies by clicking this link:- newsonlineincome.org/work-home-reviews/
We know that many people here may be argue with us by saying that New Age Bank is a legal business and they are getting paid on time from this bank. But, you should know the fact that every Ponzi Scheme pays at starting. The only who lose money in Ponzi schemes are those who joined at last or invest at last. But the motto of our website is to save everyone to lose their money before that happens. So, we simply don't recommend anyone to join and deposit their money into NewAgeBank which simply isn't a real bank. Anyway, if NewAge Bank can provide us any proof which is 100% legal and approved by concerned government authorities to show that they can pay 200% ROI in every 23 days, then they can feel free to use our comment section below in order to clear the issue for which even we are ready to amend our review.
Warning! Another similar scam in the name of reputed Bank about which you can find the details by clicking this link:- newsonlineincome.org/china-construction-bank/
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