Bank interest

[Barnabas Sackett]

Or a way to secure the loan with actual property. Can't pay the loan? Hand over the ships, gold bars, w/e the security was. Maybe even cosigning for security. Or just do like kart said. Want a bigger loan? Work up your credit rating.

[Most Lee Harmless]

I think its a non-flyer because the banks just dont need to borrow coin to finance loans currently : the majority of day-to day requests are from high-risk players without reputation or collateral : these I refuse as a matter of course not because I do not have the coin to make the loan, but because I do not wish to risk non-repayments. On non-repayment, there are few if any assets to seize, so its a total write-off. There's the rub : as said before, until such loans are less risky to offer, the banks demand for funds will not exceed the supply of its own internal funds : if such demand outstripped supply, then, and only then, would it make economic sense to attract more funds by offering interest on deposits.

I do think there is one problem area, which I have addressed in a suggestion a while back : its hard to run a proper loan-book with the current bank account system : one with ring-fenced funds, income and out-goings and its own 'ledger', thus easily separated from the owners own 'personal' funds. Then a system of interest-bearing 'bonds' with fixed terms, (3, 6, 9, 12 months, for example), which can then offer a useful return to the investor, are a much more workable idea to fund such a loan-book in the longer term.

[Brazzler]

On non-repayment, there are few if any assets to seize, so its a total write-off.

What if it was implemented that you could take voodoo from their inventory if they don't pay? I'm not sure exactly how it would work but there may be something in it.

[Most Lee Harmless]

On non-repayment, there are few if any assets to seize, so its a total write-off.

What if it was implemented that you could take voodoo from their inventory if they don't pay? I'm not sure exactly how it would work but there may be something in it.

if they have few ships, little gold and have not been playing long, their voodoo chest is hardly likely to be worth much either.

But, the new nation laws giving loan insurance against inactive players defaulting are now in place, so, that will help somewhat.

[DezNutz]

The are several points in this suggestion that I want to point out.

First, as said by many others, anyone foolish enough to use or touch deposited funds that are not directly owned by the bank (themselves) is foolish.

Second, bank accounts have deposit limitations. Even with the recent "Cunning Accountants" Tech, there are still limitations. Paying interest to an account that is at the maximum allowable deposit would be problematic.

Third, interest should not be a game provided/related point or feature set. Any banker that chooses to provide interest should do so at their own discretion and should not be a result of game functionality.

So in summary....

-1 Disapprove

[Banger]

-1 disapprove

-1 For reasons well summarized by Dez - Skyhawk

-1 disapprove - clock