I thought about do this a while back by didn't bother in the end, but this sounds like a great excuse to give it a try.

 

You would need an access point to the bank near spawn. Probably in Wall Street so that people with out the tp feature don't have to spend 5 mins every time they want to deposits money. Also there are already several banks in ecc so you would not be the first

 

Dj_Renegade, do you know how banks work? you would need to loan up to 80-90% of the money you take in out to other people in order to make maximum profit and one loss by itself would be devastating.

 

I have a system in my head to how you could do this by taking in money, giving out loans, and making a profit, but the system is time consuming and will be hard to manage.

 

assistance... I can tell you how it should be run right down to the last dollar. I just don't know if you would like my system or not? Plus I don't know how much initial investment would be needed.

 

Shall I mention Icondigi or AccusalHD (MOD these are references, not specifically talking about banned players so it does not violate the rules). Most players have good reason not to trust others with loans.

Honestly we could use the money from this bank to invest in buying pumpkin farms and renting them out to make a profit and we would sell perms low to have a lot of buyers or so we could buy a spawn shop for example and make a profit on that. Also buying items from auction such as from builders who don't understand prices yet (sorry I don't like to take advantage of people, but they are not usually bright; not starting a flame war) and resell them for a profit. These are just ideas of course. The last idea is to buy towns from mayors (or buying them from residents in exchange for mayor) then sell plots on them of course to make money; not sure how profitable this would be though. We could also buy people portals and have them pay us back with interest (if they don't pay us back we could repossess their town as this will be part of a contract they will sign then we could resell the town for profit hopefully).

We can make the people keep the money in the bank longer by offering them a higher interest rate on their money if they keep it in longer so we would have more time to play with the money. The only set back however is if a player puts a million dollars on their money they will gain a high interest off the return and would be a loss on our part. Maybe a regressive interest rate would work, but we wont know until the bank begins however.

 

lol these people dont need loans since they do forced loans - they 'sell' a $10 donation card for $50k, then when the donation doesnt go through, they say 'oops sorry, my card was declined or something' and then offer to repay the $50k. The whole process takes a week or so and so they get an intrest free loan for 1 week.

 

I've been reading down this thread and what mayfield said makes a lot of sense. Your problem may be profit margins. Allow me to explain.

Since loans are very fickle and tricky business, you might invest in things like he said, spawnshops, towns, and the such.
One bad loan and you've got a major setback.
Another thing you may try is investing. Say I've got an awesome business idea, I come to you, the bank, to an investment. Similar to a loan, but usually safer.

The other hurdle you've got is if someone withdraws their money. If you've got 400k in your bank, and one guy holds an entire 150k, and if he decides to withdraw, you've got a problem.

The last hurtle is profit margins. You might not make all that much money. With interest rates and withdraws and investments and all the like, even if you can hold it all together (unlikely) you wouldn't get too much profit. And with two or three people, it will be even lower.

Some things on ECC are impossible that would be easy in real life. Take insurance, it works in real life because millions of people have it and pay for it, one problem, even a large one, can be handled because you've got millions of people paying you cash.
It wouldn't work on ECC because unless you got almost everyone to join your company in the first week, it wouldn't work.

As for banks, they are right in the middle. They don't work 100% because loans in real life have to be payed, loans on ECC you just get banned and no money. Having a bank exactly like one in real life is nearly impossible on ECC. Having an ECC bank, with slightly different rules, may just be possible.

All in all, I wish you good luck with the funding, and hope you can get this off the ground.

 

Not true at all. I know one bank an one bank only, Blow Bank, it is near spawn in wallstreet, but you still need to advertise it so why not stay there and give tps? I understand dj doesnt have this fature but he could say, "pm d_face012 for a teloport" which is possible for me. Creating a warp/portal to the town of where the bank is located at is possible and advertisments once again are not a hassle.

 

Yes! Lets invest in an industrial sized mayonnaise factory!

 

Then there's pb&j banking, soft banking, oystermax banking, and more. Also that's my point.. Read my entire post, it says "you need to have a place easily accessible from spawn (not a portal because it Takes to long to find and not a warp because people with our the teleport feature can't use it" hence a walls trees plot is the best option

?lol?

 

This seems low. Especially the part about scamming builders.

 

"not starting a flame war"
It's not scamming if i'm buying their product, if they choose to sell it too low then that's their problem. no offence but how are profits on buildings made?

 

Well first you should read what you wrote because it doesn't make sense. And second I didn't say it was scamming I just said it was low. You can do plenty of things that are wrong but r still legal. It doesn't make it ok to swindle builders because they don't know wat things are worth just because it's legal