Bank NEVERDIE Comments thread

[PinkPcP]

Bank NEVERDIE rules!

[br]Click to enlarge[/br]


I love the bank, it looks great and I wish u the best with it.

Pink Pussycat Panther.

btw this screenie is me razorfire and kazanori dancing on the balcony

 

[NEVERDIE]

working on getting market values for armor and Guns in...
You can borrow against TT values in the meantime to try it out.

 

[Poisonhearts]

Nice, and damn Razor you're looking good .

 

[layla54]

ND - urgent - u need a large PC sign sayin that prices aren't finalised. Hang it by the entry door

You're getting a lot of grumbles....

eg ML45 TT-29 loan

so a 200ped loan on a 16k weapon for ex. Didn't endear me at first, and first impressions count.

Glad i found this thread

 

[DrPaddo]

working on getting market values for armor and Guns in...
You can borrow against TT values in the meantime to try it out.

Hope U fix the rate on 5B Plates soon ND, PayByCash lost 1.4K PED ó mine and lending out my 5B for -3PED TT isnt my thing to accomplish goals you know, as i was going to try the lending system i immediatly ran away from it

 

[NEVERDIE]

were gonna stay up all night to get the Market values set on Armor and the Weapons... If U come in the Bank and see the bank manager Just ask to set the rate for your specific Item and we'' try to set it there and then for ya!

 

[JayDee]

I went to a few banks but I see no option to create an actual bank account. I was hoping to be able to dump money in and collect interest. I think interest rate could be based on all the items you gain and resell for a profit.

Anyway I do like the loan system. It is setup exactly the way I was hoping. Hopefully more options to come?

 

[Encicra]

Bank looks good all decked out in the classic neverdie white and purple.

 

[Bubba]

The bank building is impressive.
Nice design.

And working on the market values will improve your customer flow tremendously.

Good luck with business.

 

[ViperSix]

Two Words - Pawn Shop


BTW good location!

 

[Igorl]

Will the intrest be the illegal 100% / yr or was that just the initial setup?

I hope this works out for you ND, just am not sure about the good that a pawnshop can bring into a casino

I.

 

[Bear]

I love the design of the Bank. Somewhat 60´s stlye with a modern touch
Remembers me of Clockwork Orange, dunno why but it does

All the best with your Bank and i hope one day your Bank will be a Hospital where my PED can give birth

 

[NEVERDIE]

Thanks Bear for Your POP art Posters on the walls of the Bank

 

[Lorfat]

working on getting market values for armor and Guns in...
You can borrow against TT values in the meantime to try it out.

I think this is a must, ND.
It's not too attractive to "deposit" a Camo Arms for a loan of about 100 PED

Do you have any plans to:
- Reduce the annual interest rate of 99,99%
- Increase the loan terms to more than 10 days

All the best on this new adventure/challenge, ND !

 

[NEVERDIE]

Loan Period has been extended to 30 days .

 

[DrPaddo]

Loan Period has been extended to 30 days .

WTG ND!!
Only problem now is tha laaaaag when opening the Banker NPC
As it loads every single itam in-game I tend to nearly crash my Harddrive...

Hope itll get better in the minipatches thoug

 

[Baradur]

Great location, great design, White, neat, futuristic.

Well done.


Is there a possibility for players to invest in your bank as well?

If so, share it here.

Thank you and GL.

Regards
BB

 

[Lorfat]

Loan Period has been extended to 30 days .

Good.
Will you be offering more that one payment term option ?
(People who ask for a loan of 100 PED, might need a shorter period than another who will ask for 10K, for example).

 

[Haxtor moogle]

so how exactly does the bank work?
Is it possible for your to give out special custom loans to people ?


did you design the building yourself of did you have help from a designer?

 

[NEVERDIE]

I worked with a Designer on this

 

[Cindywood]

I worked with a Designer on this

Dont take this the wrong way... but that designer should get kicked.

 

[sitram]

Loaning sistem clarification

ND, can you pls explain me how this loaning system work?

I will be useful not just for me but for other ppl reading this thread to have a example for a certain item.

Let's say you set a loan for an item, I decide to loan it and I would like to know:

• how much money I get for that item
• how much I have to pay each day for that item
• how can I calculate the amount of ped I have to pay for each day I decide to keep the item in the bank

Note: It will be a generic item, with full tt and the loan will be made for 30 days(~a month) for simplicity reason.

I would appreciate if you could answer to my post, because I find the bank to be quite useful and I might use it in the near future but so far I don't know exactly how it works and this information will help me a lot.

Regards,
A.

 

[Oracle]

I went to a few banks but I see no option to create an actual bank account. I was hoping to be able to dump money in and collect interest. I think interest rate could be based on all the items you gain and resell for a profit.

Yes same here, will it ever be possible to open an interest paying savings account for one's peds Neverdie?

You could use the extra cash to buy one of the new planets or something

 

[gwit]

This post is only my opinion but why are we congratulating a fellow gamer who thinks it is reasonable to charge 99.99% interest. That is just extortionate.

Maybe I looked at the bank too early. The bank was effectively your risk capital and you have a two year repayment plan - but wow that is the highest interest I have ever seen - oh except from loan sharks !!

 

[Midori Fairlona]

you have a two year repayment plan

That is incorrect. There will be a guaranteed two years in which only 5 banks can operate. After that MA could sell additional bank licences if they want to. The existing 5 licences will remain regardless of how many others are sold later.

 

[NEVERDIE]

Anyone under the impression that the bank is a passive investment is mistaken. The bank is a business unto itself with all kinds of related costs above and beyond the 90k USD license fee and the $100K float, both of which cost money to finance and some of u may be aware that banks still rarely give loans for Virtual Businesses, even if they are virtual banks.. So lets just say it cost rather alot of money to get the money to open the bank...

In order to nurture the bank Business one must put considerable time and energy into the management and marketing of it. In addition to myself, This bank is starting off with one Full time passionate commited employee with a family to support who is based in the united States Not China or the Eastern Block, So what kind of wages and Real World operating costs do u think are associated with that?

In addition the bank opened with 4 other banks in competition with it for business, therefore there are marketing costs associated with the operation of the bank.

As so many people have pointed out there are no Deposit Features associated with the bank at this time so there are no other automated revenue streams associated with the bank beyond the Loan System...

In the Real World companies like pawn shops that offer quick and easy cash, use a multitude of additional fees ontop of high interest rates to make their businesses float.
many of those loan operations make an average return of 1% per day on short term loans. A rogue bank/ pawn Shop that was for along time embraced by this community was charging that amount for it's loans...

The Current interest rate at the bank based upon the introductory 99% annual rate works out to appx 0.27% per day, at that rate given the competiton and the costs associated with starting and maintaining the Bank. I'm not sure at what point it will become a profitable enterprise.

The Service that Bank NEVERDIE is offering is Short term Secured Loans With Instant Easy Access.

Whatever interest Rate setting becomes the Standard will be arrived at by factoring in all of the costs associated with setting up the bank, plus operating costs, Business growth and Return on investment.

Fortunately for the community you have five different banks
to choose from, all of which will have entirely different set up costs, operating costs and Growth plans. I'm sure that you will find a palatable rate somewhere if u should ever need some convenient Quick Cash.

I am very grateful for the enthusiasm of the communtiy and the positive feedback I have recieved. I will do my best to make this bank a succesful entity in EU to provide a useful service to Some... It is primarily a business for profit although I have certain altruistic and creative ambitions.

I really welcome constructive feedback which rest assured will be digested heartily. I've never run a bank before i do expect to make plenty of errors, so early in the game theres nothing set in stone.

Seriously if U dont like the interest rates, please Dont use the Bank.

Keep an eye on the Opening posts of this thread for Updates..

 

[JayDee]

This post is only my opinion but why are we congratulating a fellow gamer who thinks it is reasonable to charge 99.99% interest. That is just extortionate.

Maybe I looked at the bank too early. The bank was effectively your risk capital and you have a two year repayment plan - but wow that is the highest interest I have ever seen - oh except from loan sharks !!

Well you could easily argue MA are the real extortionists. The basic definition of extortion is "a gross overcharge". How about those guys that charge insane amounts of money for scarce items?

99% for a game like this may sound insane but that game is based on insane purchasing decisions. Also 99% is based on a year (annual)? and these loans are only good for a month? So you would be paying 1/12 the 99% for a 30 day loan? I think that is 8.25% for 30 days. So for a 100PED loan you would have to pay back $108.25PED? and if you pay the loan off before the 30 days the interest will be less?

As NEVERDIE said earlier the crafters (and other manufacturing professions) would probably benefit from this the most. Others could use it to make due until allowance time comes around or payday. However that is not a path people should logically take but this is not a game of logical spending.

 

[Slapnuts]

It is primarily a business for profit

And imo that is exactly why the community can relax their concerns about the current/future interest rates of BND or any of the banks.

Very simply put for a business to be profitable it needs two things:
1. a product
2. customers for that product

If 1. is judged over time to be unreasonable or uncompetitive then there will be none of 2. and therefore no profitable business ...

So it seems to me that to argue that any of the banks intends to offer anything other than a reasonable/competitive product is to argue that they bought the banking license with the intention of not making a profit ... which would seem a very bizarre reason to invest $200k+.

What is reasonable/competitive given costs/context/etc ... only time will tell, just as it does in any industry in RL.

 

[Tidesong]

Congrats on the opening and the location This is really exciting to see how it works out, am glad that its finally here.

 

[Toast CHG]

This post is only my opinion but why are we congratulating a fellow gamer who thinks it is reasonable to charge 99.99% interest. That is just extortionate.

Maybe I looked at the bank too early. The bank was effectively your risk capital and you have a two year repayment plan - but wow that is the highest interest I have ever seen - oh except from loan sharks !!

After reading this I checked on the website of one of a payday loan company that advertises a lot here. In the state of Illinois, they charge just over 400% Annual Percentage Rate! What BND and the other banks is offer a short term loan option for those who wish to do so.

Good luck to you NEVERDIE and all the other bank owners.