Runescape Banking Improvements (Pics & Description)

[tyluke]

 

Ladies and Gentlemen; Here is a concept I have come up with to further improve the updates to the Runescape banking system. this will enchance the current banking system and the Grand Exchange. My idea should be incorporated with every city bank in Runescape; but not in banks without tellers like: shanty's chest, culinromancers chest, and the any other bank that does not allow you to collect your Grand Exchanges. My idea is to incorporate more financial activities into Runescape; to help players obtain and organize money with less difficulty. My propesition is to add these two new functions to the Runescape banking system:

 

 

 

 

 

Guarenteed Interest Accounts: are accounts that allows a player to take a certain ammount of money; exceeding 10,000gp and lock it away for 5-60 days. during those 5-40 days the player does not have the ability to touch that money. After the 5-40 day period expires the money is returned to the player; with Interest. I think the interest rates should rise as the volume of money locked away, and the period of time increases. :P

 

Players can have up to four GIA accounts. I have not figured out interest rates yet, but I estimate they will be between 1%-10% depending on the size of the investment and the period of time it is locked away. THE INTEREST IS NOT COMPOUNDED.

 

 

 

I think the GIA holding limit should be:

 

Minimum = 10,000gp

 

Maximum = 1,000,000gp

 

 

 

 

 

 

 

Loan Accounts are accounts that allow a player to borrow a certain ammout of money from the bank; the money ammount I think should be anywhere from 1,000gp-1,000,000gp. The money will be due back within a established period of time determined by the player 1-10 days. 10% of the loan must be paid immediatly as well as an additional 5% transaction fee. The total ammount of the loan remaining (90%) must be paid back within the requested time period. If the loan is not paid back within the time limit the bank will reposssess items at their current Grand Exchange values until the debt is paid off The bank will not repossess items worth more then the loan (Phats and whips are safe) :D If the loan is paid back before the requested time the 5% transaction fee will be returned to the player; in gratitude for returning the loan, on time. Players can only have one loan account; and cannot activate a new one until the previous loan has been payed off.

 

 

 

 

 

This is an example of what the Banking interface could look like:

 

 

In the GIA accounts the small left box of each larger box represents the initial investment; the small right box of each larger box represents the investment size after the day limit. in the loan accounts the small left box found in the large box represents the ammount loaned; and the small right box found in the large box represents the ammount of the loan due.

 

 

 

 

 

 

 

 

 

I am a proud supporter of the new Bank of Runescape, and I hope you will support my suggestion with the same enthusiasm.

[Ultimakomoto]

Chatbox letter drawing could do with some work. ;)

 

Still, I don't see how this could work, a rich player could just set up all his money in a intrest account before a vacation, come back and *kaboom!*, Free money for no work at all.

 

May I suggest a limit to this Intrest account, 100K or even up to 1 mil?

 

Loans, would be intresting, but how many people would use them?

[snowball]

Yes, a limit would be nice, otherwise, people would continue putting all their money in and doing something (like hunting or WCing) that does not cost money. Also, be sure not to make MTK too obsoltete with this.

 

 

 

And The interest, when is it compounded? Every day? month? Transaction? If it were the 1st or 3rd, I could continuosly gain money without doing much of anything. If it were the 2nd, Interest Gained would be pretty useless (i.e. (1)i deposit 1 mil and get 20% added each transaction, then It would take minutes to double my money. (2) If i deposit 1 mil and get 20% per day, I earn 200k per day doing nothing. Far too much. Even At 1%, 10k per day is pretty good. a few days of nothing and you have doubled your money. If I deposit my money and get 20% per month, then In that time, I could have used that 1 mil some other way and gotten more money

 

 

 

May I suggest that the interest is compounded daily or weekly at a fractional percent? That is, If I depostited 1 mil, I could get around the ballpark of 1k-5k per day? your Money is working for you, but it is not too easy.

 

 

 

Also, What items would be taken by the bank? I would rather that if i had not paid back say 5k, my whip was taken from me. What are the limits on this?

[tyluke]

To answer some questions

 

 

 

1. The interest is not compounded. It is a fixed rate that you will recieve for your investment. simple interest. ie. deposit 100,000gp with mabye 2% will then provide 102,000gp or 2000gp profit

 

 

 

2. Items that will be repossesed will be gold, runes etc. The bank will not repossess items worth more then the loan your whips and party hats are safe :

 

 

 

3. You will be have a generous ammount of time to pay off the loan.

 

 

 

4. This does not make MTK obselete because the profits are not as substantial

[highlanders]

In real life, the reasons this works and is balanced is because banks need money. This is why they give you interest when you give them money. Then they loan the money people gave then at high interests. In RS, there's none of that, the money would just come out of thin air. Filthy rich people will just get even richer by doing nothing by leaving money there for 60 days. Jagex is trying to avoid inflation, not make more of it... Sorry but no support.

[tyluke]

Filthy rich people will just get even richer by doing nothing by leaving money there for 60 days.

 

 

 

This is how the real world functions ;) but i understand the downsides. thats why I made it a low percentage

 

 

 

 

 

still open for suggestions

[Nenga]

Hmm, intresting suggestion, but if you get a loan you should not be able to repair barrows items or give the money away to other players without getting something in return (not even 1 gp). Also loans should not be able to be used on quests (for example on monkey madness you can pay glough 200k to have him do the puzzle for you, 80k for the dt staff, 50k for a replacement neitiznot helm, etc.)

 

 

 

For getting intrest on money, you should give f2p 1 slot for intrest of their money, the money gained should be set by your quest points and the value of the items you have in your bank, at 10% of the cost setting it on 1 item at a time, (and you cant have multiple accounts at one item at a time, also you can't choose sets, it has to be a single item) Lets take an example: A dragon chainbody today is 9.7m, 10% of that is 97k + 30 trade limit (with 262 qp) = 127k gain. So you earn more money when you have more expensive items so people still feel the need to work for them. The only condition is that you cant use the item either. (in battle, just to wear around, etc) Since the lending system is about to be brought into the game, you can't use lent items either. I can't think of anything else to improve it, so you have my support (even if you don't use my improvements, they are just suggestions.)

 

 

 

Edit: thought of something else, since rares are so expensive it will use the store price for these items.

[BloodArgon]

Would cause too many problems.

 

 

 

What if you just loan out money, and do stuff, and loose it.

 

 

 

If you cant loose it, what good is it?

 

 

 

Say I take out a loan of 500k. My entire bank is empty. I buy stuff for BH, and loose it all.

 

 

 

Thats 500k went out into the economy with no one making it.

[magicmagicy]

Learn about interest before trying to make a suggestion on it. Do you know why banks give interest? It's because they are trying to get you to give them money, and then they take that money and invest in something out, this concept would not work in RS AT ALL.

 

 

 

Loaning has huge issues,

 

IE

 

Player A borrows 10m.

 

Player A trades 10m to Playber B for 10m worth of junk.

 

 

 

There would be too much inflation and also exploit many objects, that are easy to make, have a low street value and high GE value. AKA Free experience and money.

[Zaaps1]

What's stopping someone from creating tons of accounts, borrowing as much as they can, then drop the money, and never log in again?

 

 

 

I think that's the main reason why this hasn't been added. I like the idea, though.

[The_Gabe]

This is a game not real life... People should work for their money in a game, it's seriously not the end of the world like it could be in real life.. :thumbdown:

[xwarrior173]

No support as its just very cheap to make money that way. Why not do that with your real life cash and save it up to buy membership and make some rs money from there.

[gauper_kid]

why would jagex want to give us free money?

[tard53]

:o i like it \

 

 

 

 

 

nice idea!!!! :thumbsup: