Nexus Bank Savings Rate- 1% every week

Discussion in 'Classifieds & Ads' started by JazzBeam, Nov 2, 2013.

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  1. JazzBeam

    JazzBeam Builder
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    The Nexus Bank,
    About Us:

    We have a variety of services,
    We create Savings Accounts for you to use.
    We also Issue Loans.

    At this Thread, you are Welcome to ask questions about anything related to this bank and questions related to savings accounts.

    If you have questions about loans or want to apply for a loan click the next blue word: Loans.

    Information about savings accounts:
    The Benefits of Creating a Savings Account is that you receive interest, free money added to your savings account. For example, if you deposit 100,000 Ecodollars into your newly created Savings Account, you will end up with 101,000 ECD at the end of your first week, and on the second week you will end up with 102,010 ECD. So you end up with 104,060.4 ECD at the end of your first month.

    After you open your first savings account and put your pile of money into it, you are allowed to deposit more to it. But if you want to withdraw money, you need to ask me to come and collect the money and give some of it back to you.

    The interest rate on savings accounts is 1% every week. (added using compound interest)
    Savings Accounts are free, you are not charged for depositing money or applying for a savings account.
    Your Money is stored in a Trade Sign. In a location of your choice.

    Savings Account Application:
    What is Your In Game Name?
    Your Ranks:
    Where you want your ATM or Money Sign to be located:
    How much money will be put in per click?
    What is 12+19=


    -The Nexus Bank

    ''The Big Bank Theory''
     
    #1 JazzBeam, Nov 2, 2013
    Last edited: Nov 30, 2013
  2. lavajok

    lavajok President
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    Moved General Discussion --> For Sale / Wanted / Feedback / Job Offers
     
  3. JazzBeam

    JazzBeam Builder
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    Okay, Bank is now closed. I am trying to find an insurance that will protect players' money that is put in their savings accounts. It will reopen soon.
     
    #3 JazzBeam, Nov 4, 2013
    Last edited: Nov 4, 2013
  4. JazzBeam

    JazzBeam Builder
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    Alright, The Bank is now open for business, if you have any questions or concerns feel free to ask me!
     
  5. speedy99o4

    speedy99o4 Builder
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    can i join the business
     
  6. JazzBeam

    JazzBeam Builder
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    Can somebody help me understand why nobody is interested? is it because you don't trust me?
     
  7. JazzBeam

    JazzBeam Builder
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    yes, if you really want to help out in some way
     
  8. jlaxbeast

    jlaxbeast Builder
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    Im confused can you please explain why i would use a saving account instead of my balance.
     
  9. JazzBeam

    JazzBeam Builder
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    You get free money for keeping it there. For example, if you have 200k in your savings account, you will receive 4.8k for free every month you keep it there.
     
  10. jlaxbeast

    jlaxbeast Builder
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    K i get it now. But ill have to pass.
     
  11. JazzBeam

    JazzBeam Builder
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    why do you pass? I would like to know why people aren't interested.
    (just so you know, I am not persuading you, I am only asking a question, that is not for commercial purposes)
     
  12. EPIC_CHICKEN2

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    My question is, what is the difference between storing it in a trade sign yourself and you just making the sign for us?

    I understand about myself gaining money but what is the point of that if you (Jazzbeam) just lose money?
     
  13. JazzBeam

    JazzBeam Builder
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    When you create a savings account you are depositing money. And you will receive more money added to your account every month, so then my bank loses money. But that is just one of my expenses. When you deposited money in this bank, I will use that money to loan out to other people, with interest. So thats how my bank receives money.
    So if you open up a savings account and deposit 100k, you will receive about 2k every month.
    But I will take that 100k and loan it out to other people, and they pay back the 100k and interest. So they pay back 108k. That extra 8k is the income, and i use that to pay for the extra money added to your savings account. And I keep the difference as profit.
     
  14. JazzBeam

    JazzBeam Builder
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    How come everybody is not flocking here to get a savings account? I expected to receive 20 million ECD worth of deposits. I need people to explain why hardly any people are interested in opening a savings account.
     
  15. dylpickle98

    dylpickle98 Builder
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    A. ( this is the big one) You are a resident, and residents often prove to be unreliable. considergetting some one (or more than one person ) with server reputation on board with the idea and have them indorse it.

    B. Interest is compounded monthly, which is a very long time to get your first interest pay. consider changing interest to say .5% compounded weekly.

    C. Your system isnt very in depth. Consider adding scam prevention measures and also being more in depth on deposit mechanics.

    D. Consider establishing an actual structure for your bank, either that or using this forum as a dijital "bank" with numbers updated under peoples names to keep track of their savings

    Hopefully this helped, I really love the idea, infact, i tried to do the same thing a while back. Also, dont take my advice too seriously. THERE IS NO "HAVE TO" IN VIDEOGAMES. Anyways good luck and happy banking :D
     
  16. JazzBeam

    JazzBeam Builder
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    Hey everybody, I have been on this server for a long time, longer than some players at mayor ranks. I also have not ever scammed anyone.
     
  17. JazzBeam

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    Well what happened to your bank?
     
  18. dylpickle98

    dylpickle98 Builder
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    It umm... Well umm... It flopped. ;(
     
  19. JazzBeam

    JazzBeam Builder
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    For my bank, it will be big, active, and strong and healthy.
     
  20. SparklyPotato2

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    It sounds like you have put a lot of thought into your business:) Unfortunately people would like to know that their money is 100% safe. You say you are not a scammer and I believe you! Some people (I don't blame them) are very skeptical with banks like these. I wish you much luck in your bank!
     
    #20 SparklyPotato2, Nov 28, 2013
    Last edited: Nov 28, 2013
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