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Banking rework


Jimenez

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Preface:
The script surrounding banking is currently lacks a lot of depth, which completely destroys any and all attempts of financial roleplay. 

 

Accounts:
Banks offer the ability to have one or more bank accounts, which each have their own balance, access list and debit cards. This allows players to share bank accounts for example for joint business ventures (effectively removing the need for a faction bank for businesses) or for married couples to share funds. Allowing a player to have compartmentalized funds also allows for a saving and spending account, which in turn makes financial crimes (think of card thefts and skimming) relevant. 

Account types:

  • Joint accounts (for businesses or married couples for example)
  • Savings accounts (offers a 1% interest for sums smaller than $1,000,000, incentivizes the use of savings accounts to prevent large scale financial crimes).
  • Dividend accounts (offered by MazeBank for example, for larger accounts (1-10m), uses the money to invest in stocks that offer divident, bank gets the larger share in the deal and the client gets an interest of about 1 - 1,5%)


Transferring:

Players should be able to transfer (or wire) money to one another, with a name, account number and a specification (description), this allows for more opportunity to launder money for example. 

Edited by Jimenez
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Joint bank accounts for businesses are already in place within the update, expanding them to cover spouses as joint personal accounts is definitely a very interesting idea.

 

Savings accounts, dividends account, anything of the sort - big no-no for me, I do not want to see script-generated profits just because of the wealth you have. Put it to good use as an actual investment, run a company or have a player-ran bank open a savings account for you if they are confident they can give you the interest rate you want. We're a young economy and trying to introduce mature financial instruments based on a script is a mistake, it will promote hoarding of money instead of spending it since the choice is income guaranteed by script vs running an actual enterprise or buying into one.

 

Transferring: I believe I did put it in the financial update, but if not - 100% support, signature with both hands.

Edited by AVRO DANKASTER
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50 minutes ago, AVRO DANKASTER said:

Savings accounts, dividends account, anything of the sort - big no-no for me, I do not want to see script-generated profits just because of the wealth you have. Put it to good use as an actual investment, run a company or have a player-ran bank open a savings account for you if they are confident they can give you the interest rate you want. We're a young economy and trying to introduce mature financial instruments based on a script is a mistake, it will promote hoarding of money instead of spending it since the choice is income guaranteed by script vs running an actual enterprise or buying into one.

I understand what you're coming from, but the entire idea behind a savings account is to incentivize people to keep as little money as possible on their person, in their spending account or in their residence. This is so that the rules regarding robbing and financial crimes (such as fraud and skimming) can be loosened. 

 

An alternative to this would be to pay out the interest once every x hours (10, 20, 100 w/e) so that the financial gain is not as much, but it's enough to make the player feel good about it.

Edited by Jimenez
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Absolutely, but why incentivize them by giving them ability to freeze wealth for some out-of-thin-air script income? 

 

As far as the rulebook goes, I believe I've made it very clear that introduction of the Money & You 1.0 has to go hand in hand with making any amount of cash a fair game for thieves. Loosening up the rules on that is a must, otherwise holding money in the "tax haven" of your residence will have virtually no drawbacks and will be the single best way to go around the tax system.  Financial crime is a bit more tricky, but when I really think about it, I see no reason to limit all but the biggest players on the market from defrauding their customers. Perhaps a listing in the government registry of financial institutions would be that stepping stone from able to defraud to unable to defraud - it'd open up another layer of roleplay, parabanks vs banks, small vs big institutions, high risk vs low risk. All in all, I do not want to see wealth generating more wealth through script. I want to see wealth being used to generate more wealth through smart IC investments.

 

If we really dissect the design of the system post-update, we reach a simple conclusion - having any money that isn't actively being invested into making more money via roleplay enterprise has drawbacks. The more you have, the more noticeable they will be - taxation will eat up your bank account, robbers will empty your pockets and burglars will clean out your cash stash.

 

In my book, that's incentive enough to minimize money on hand or in your bank account and make it a very worthwhile endeavour to pursue any sort of business activity. Introducing any script-based profit system that relies only on the money you have is counterproductive towards the current effort of building a booming tertiary sector of the economy.

Edited by AVRO DANKASTER
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