Bank

[Liberty4life]

Why to get bank account?

* you won't need to worry about safety transactions anymore, bank will do them for you
* you can save your money for a month and earn interest
* you will be able to get a loan
* you can exchange currencies
* other won't know how rich you really are by looking at your inventory

So make your finances private thing and let bank manage them for you!

I own my little bank, below is written how it works, to pm me business requests about bank, you have to chose forced label named: Bank, otherwise I will ignore you and delete your pm. That is first rule of bank. Other rules, do exactly what I tell you to do, otherwise you can lose your money, with that I mean don't send me money before I tell you how to send it and when, this is just to prevent cheaters, if everybody sends me money in uncontrolled way and sends me pms saying you send xxx amount of money, somebody could just send pm without sending money, then I wouldn't be able to know who is the one that tried to cheat me since there is no notification system to tell me that. To prevent that from happening first you pm how much money you want to send on your account or account of someone else as payment for trade, that means you must say for who is that money, for you or somebody else who has account in bank, then you must tell me amount of how much money you will send to me. Then when I read it and confirm your request I will tell you where to send it, for this I will use my Libs, you aren't allowed to send money to Libs without my approval first otherwise you lose your money. By using my Libs I will know exactly who send money and I will have exact amount and nothing would be missing.

To get involved into payment system you need following:

* open account in bank, to do so, you just need to pm me saying you want your own bank account
* then you need to send your money on it (silver and/or gold), once you open your account I will tell you how to send me money (*note above with full details)
* you have your account and your money on it, now you are bank client and you now have right to ask for cash out of your money at any time, you have right to take a loan and to deposit your money (more details about it you can find below)
* you can send requests to make payment to someone from your bank account to his/her or to cash out money to him/her (similar thing as sending money to your account, you need to tell me name to who I need to transfer your funds, how much of them and do I need to cash it out or just to transfer from one account to other and afterwards you get confirmation that it has been done)


Note: bank takes its interest, when you cash out your money to yourself or to someone else, if amount is 30 silver or higher bank will take interest of one coin, that means for cashouts over 30 silver you must have amount of money you want to cash out plus one more silver coin, we don't take interest when cashing out gold, also to prevent others from not paying this interest and to make bank stable and to avoid bankrupt there are some limitations, 5 cashouts per day, and same person can request cashout only once per week

Currency exchange business:
Bank will exchange silver into gold and gold into silver. Currently trade is counted by middle ratio of gold:silver=1:15.5; if you are buying gold then ratio is 1:16, if you are selling gold then ratio is 1:15; those ratios can change due to market.

Investment deposit:
You can your money put into deposit, that means you lose right of disposal of your money for specific time, for this bank will pay you interest. How much you will earn that all depends on how you make deal with bank.

Loans:
You can take loans from bank, if you do, bank wants to be sure you can return money you borrowed from bank thats why we will take guarantees, you are obligeted to return money in specific time and bank takes interest for lending you money. This all depends on your deal with bank. As guarantee you will pay back money you borrowed we will need some equivalent. It could be pm from other person which has account and enough money in bank that s/he guarantees for you, if you wont be able to pay it, that person will lose its money. Other way is that you give us item/s, value of items will be calculated based on market, that means Kriskah will tell how much is it worth. Other way is to give ctc code of creature/s that has some value, this is based on Kragel's list of creature values, note this is not recomanded, becoz we will take that creature from you, it will lose everything, only thing that will stay is 50% of its age and tokens. If you return money you borrowed, we return you your creature/s or item/s. If you don't return money you borrowed, bank will sell your creature/s and/or item/s to Kragel/Kriskah for value estimated before and then they will resell it on market for higher price. For example if you dont give us back our money and you gave us your drach then I sell it to Kragel for price he has on his list of creature values (if I remember correctly it is 25 silver for drach) and then he sells it for higher, depending on market.


so this means first md bank is open yey,
~things about bank will be updated on my hate list (btw read it coz i am also buying some infos) and in here, also i can be mainly found in marind bell

[Kragel]

umm yea not so much

there is an old saying

don't put the cart before the horse


so slow down a little and let this happen naturally


but :good: for the enthusiasm


Kragel

[GgSeverin]

I'll become an anarchist then! :aggressive: :aggressive: :aggressive: :aggressive:

[awiiya]

I'll be absolute frank.

If I had silver, I wouldn't trust you (or anybody except Mur) with my money.

The reason is this: People come and go from MD, sometimes without rhyme or reason. Who is to say the person I invest my money in won't suddenly disappear? What about if you lend too much, and I want to withdraw all my money? On a huge scale with lots of customers, this isn't an issue because there is constantly money flowing in and out, but MD is a small community.

Also, if you prove to be distrustful, I can't get my money back. There is no way for me to beat you up, or threaten you, or do truly anything that will for sure get me my silver back.

This idea has lots of holes. I'm sorry.

Awi

[Liberty4life]

there will be always money to cashout since i put limit on number of cashouts, and i am not type of person who leaves just like that, well anyway trust on market needs to be earned, if somebody trusts me, and if it shows up that i can be trustful then more people will come

[Grido]

Lib, we get coins in the system only to hide the coins away from people?

that's how i see it anyway, you're making real coin into imaginary coin, which makes no sense to me really

plus, i like to see my coin

[Fenrir Greycloth]

There is no reason for a bank, Lib. It is not worth it for now. As far as I can see, there won't be any way to steal from each other in the near/far future, so our coinage is safe on us.