Hello everyone, Bank of Babylon is once again looking for investors, and we are pleased to announce the launch of our new online banking system. You can log in to check your account's status and recent transactions and more. The money the bank earned or lost from every loans will be shared between all investors. And for every successful loan we made, the bank will charge 40% of the interest as commission. If you have any questions please reply to this thread or sent me a pm. You can go to ecocraftcity.com to log in, but you need to be a member to get an account. Here I post a screenshot to give you an idea what it looks like. FAQ: Q: Who is running this bank? A: This bank is established by myself, @luccowarleo, and @Whammerist5 is the manager. and now we have two more investors. Q: Why are you doing this? A:I opened an bank in my town named 'Babylon' back in 2014. During this time I really enjoyed doing business with other players. Having the most successful bank in ECC has always been my dream ever since then. Last year I brought my co-mayor whamerist5 to the loan business and the business is really growing. This year I brought the online banking system to our bank, I hope it will make our bank even more successful. Q: How much will I get from my investment? A: The amount of money you get depends on two things: First, how much we get from a successfully finished loan, second, the proportion of your money in the bank. The bank will charge 40%of the interest as commission. For example, your money account for 10% in the bank's money and we just made 50k from doing a loan, then 50k*10%*60% = 3k will be added to your account and the rest 27k profit will split between all the rest investors according to their money's contribution ratio. Q: Will my money be 100% safe in your bank? A: Sorry we can't guarantee that. The money we get will be used as the fund for loan businesses. And there are always risks in doing loans. But what we can guarantee you is that the money in the bank won't be taken from any of us. We have been doing loans for a long time, and from our experience a steady growth can be expected in long term. Q: What's the online banking system and what can I do with it? A: The B.o.B. online banking system is the new feature of our bank. The purpose is to keep our business more official and transparent. By keeping a record of every transactions online, every investors can check what's going on in the bank. It will also show you how much money you earned from every loans the bank has finished, and the percentage of your money in the bank. ----------------------------------------------------------------------------------------------------------------------------- Quarterly Reports Spoiler: 2016 Q2 From 2016 April 4th to 2016 July 2nd Total loaned out money: 4,530k Total income: 763k (569.8k for investors) Loss : 200k *Loans given before but paid during this period of time are counted in Total income. *Loans that are given during this period of time but haven't paid are counted in Total loaned out money. *loss from defaulted loans that are covered by Bank of Babylon is not counted in Loss.
Hi, after a discuss with whammerist5 we decided to change the rate to 60%, which means you will get 60% of the profits. therefore I need to rewrite part of the codes, but anyway, you can pm me in game.
Rules are updated. I made some changes to the algorithm - now 40% of the profits will go to the bank, and all the investors will get 60% from every successfully finished loans.
Hey luccowarleo I am really interested in this but I have a few questions. 1; what is the minimum amount of money I can invest 2; I know I can trust you but can I trust whammerist5 ( we have had problems in the past) 3; If for any reason I feel like I need my money back will I get my investment back. If so about how much time will it take for me to get my investment back Thx for your time
Hi sliprockjr, 1, 5k is the minimum and you need to keep at least 5k in your account whenever you withdraw money from your account, or you can withdraw all the money you have and we cancel your account. 2, This won't be an issue if you trust me because I am the treasurer. And every loan we made follows a decision making procedure to keep the profit as safe as possible. 3, Yes you will get your money back unless we loan out all the money and there isn't enough cash, in that case, you can either wait or find someone who's willing to buy your share. It rarely happens but I feel I need to let you know. As for how long you can get it, for money less than 26k you can probably get it the same day, for money more than 26k I think you can get it within 3 days. The way is you ask me though forum or ingame, then if it's less than 26k I'll leave the money here and you can get it whenever you are in game. If it's more than 26k then we need to schedule a time that we can meet in game. I hope this answers your questions. Thank you.
You can ask me or wham to create an account for you. But since he has been busy these days I guess I can do that for you.
