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Personally I had always seen AP as a game mechanic for "alliance army gear requisition". Obviously that would not be bankable...
...but since the things you can buy with it are bankable... not that big a deal.
You can transfer any purchased items between those accounts. So there really isn't any need to bank it. Like my ravagers can be worn on my stamina DK and stamina SORC.
My guess is it not bankable because they would have to make some big changes or you would be able to instantly lvl each new characters Assault/Support rank by withdrawing the AP from you bank. If they change it there would likely be more problems that came with it than it's worth
You can transfer any purchased items between those accounts. So there really isn't any need to bank it. Like my ravagers can be worn on my stamina DK and stamina SORC.
Some AP-purchasable items are only available on a single faction, so if your primary AP earner isn't on that faction then you're out of luck, outside some really extensive legwork finding a seller. The Alliance Motif style items, for instance, are only available on their respective factions. You could bank some Tel Var stones, but most people are purchasing with AP instead and this isn't something you can do if your primary AP earner is on a different alliance.
Men'Do PC NA AD Khajiit
Grand High Illustrious Mid-Tier PvP/PvE Bussmunster
AP should be bankable. Its currency. Shackles are bank able. TV is bankable. Basically everything but Undaunted Keys but you don't need more then 1 to get rewards.
Passing AP between the bank shouldn't award you alliance rank, If they built the game like that then they really didn't think this through. Banking TV doesn't complete IC dailies for other characters. Banking Shackles doesn't improve your Undaunted skill line. Bank loot from chests doesn't improve your Legerdemain for other characters.
With 8 character slots they had to assume people would have AP trapped on a toon the don't PVP with, or AP spread across multiple toons because they do PVP with them. Most players want to get Vigor, War Horn, Caltrops, and Mag Det for PVE. The AP spread across characters might not be enough to get the thing you want.
When the Golden comes around and I don't have enough AP on a single character, but have more then enough across 2 or more I'm stuck playing the one I have the most AP on, despite rather playing another one, or simply not getting what I've earned enough AP to purchase. I've done the content. I should be able to bank my rewards. It's no different then gold, TV, Shackles, vMA weapons, BOP Trials gear, etc.