[LikeWhoa]

i still dont get the pt of this 2nd bank thing.

[MrPapagiorgio]

(2012.Feb.02 11:03 AM)StreetSamurai Wrote:  

(2012.Feb.02 10:29 AM)HeadBustin Wrote:  Idea

lets increase the interest rates to something useful, but when we deposit money into it, we cant touch it for, say 3 months - 6 months.

therefore it will accumulate interest, but your money is tied up while it does.

i like this, like a rrsp, higher interest but a heavy penalty for early withdrawl.

That's what she said. (sorry)

[tables18]

(2012.Feb.02 10:29 AM)HeadBustin Wrote:  Idea

lets increase the interest rates to something useful, but when we deposit money into it, we cant touch it for, say 3 months - 6 months.

therefore it will accumulate interest, but your money is tied up while it does.

+100

[kalamari00]

(2012.Feb.03 12:58 PM)tables18 Wrote:  

(2012.Feb.02 10:29 AM)HeadBustin Wrote:  Idea

lets increase the interest rates to something useful, but when we deposit money into it, we cant touch it for, say 3 months - 6 months.

therefore it will accumulate interest, but your money is tied up while it does.

+100

I agree, but I think months is a little harsh, maybe a week or two. Or maybe several options with higher interest the longer it's tied down for?

[Marlo]

This was the though behind starting the thread.

I thought that this might have been a high yield account, which would limit access to your funds. Which I think is a GREAT idea!

It would also make both banks useful as opposed to just putting everything into the Second bank. One as a "checking" and one as a "savings".

[MrPapagiorgio]

I played another game where the bank worked like that. Choices were one week, two weeks, month, two months, three months. You were Also able to increase your long term interest rate by earning "merits." Unfortunately, Everyone playing this game discovered it was the easiest way to earn money. Hyperinflation. All of a sudden, everyone had the best house, the best weapon. Credits that had been selling for 40K spacebucks were selling for 10 million. The economy became so unbalanced that the ultimate result was a game reset in just under two years.

I am very much opposed to this idea as a result. You could probably make it work, but I don't think it's worth the chance.

[catalyst]

(2012.Feb.03 06:45 PM)Marlo Wrote:  This was the though behind starting the thread.

I thought that this might have been a high yield account, which would limit access to your funds. Which I think is a GREAT idea!

It would also make both banks useful as opposed to just putting everything into the Second bank. One as a "checking" and one as a "savings".

It's just people asking for a second bank account. Thats really it. You can open a second bank account irl with slightly better interest rates for now reason as well

It is just some thing small

[fngMalvos]

Now if the Second Bank could reinvest cash that's been locked in, i.e. provide "mortgages" to other players at a slightly higher rate we could have a real bank starting to develop. This would give players looking for a housing loan an option if they can't find someone to borrow from directly. They would probably have to pay the interest up front and there would have to be some way that the cash only goes into housing so it might be a little more involved to code. Then the question is what does the bank do with these new profits?