Seperate Bank Accounts

[whhattisthiss]

I was just struck with this idea.. what if you could have two bank accounts for every account you had. The first being the normal bank account we have now, where you can deposit and withdraw as much as you want (as long as the bank staff doesn't get fed up!) And a second one for savings.

Let's say you're saving up for a plushie PB. It's an account that has a slightly higher interest rate, but you more or less can't really spend those NP. You can see (without having to do math, score!) how many NP you have in total, and how many you have for the PB alone, it'll collect seperate interest, and you'd get say one withdraw per day (from the savings one) and as many deposits as you'd like. If you withdraw more than once, the bank starts taking like 20 np or something from you, each time, to encourage you to save, much like a real savings account. And the whole time, you'd still have your main bank account with spending NP in it, with the normal interest rate, with unlimited transactions.

Sorry if someone has come up with this before, but I just thought of it and thought it would be a great idea. *runs off to send TNT a message*

[bone garden]

I've been thinking this is a good idea for years. I wish TNT would pick up on it.

[Katherine]

Cool idea.I think that it's a great idea.

[fredajones]

Why should Neopets want to encourage players to save? It makes no odds to them.

[Rachel]

if people want to save for something they will, if people want to spend their np, they will. i dont think a savings account would make much difference. i wouldnt use it if they brought it in.

[psyco_chick32]

If TNT implemented a savings account, I'd totally go for it. Especially because I'm trying to train one pet (well, even out stats continuously unevened by the lab ray {I want her to stay above lvl 50}) and still trying to save up for a paint brush for another. So yeah, that'd be awesome, because I could put a specific amount in the savings each day like I try, without pulling more than I put in for training

(wow, did that make sense to anybody else? I think it makes sense... maybe...)

[Dustin]

Your bank is your savings account pretty much.
I highly doubt they'll create a new bank. And if they did, they wouldn't make it where you could collect interest.

[whhattisthiss]

Why should Neopets want to encourage players to save? It makes no odds to them.

Part of the educational aspect of Neopets (they sneak it in from time to time), teaching kids and adults alike the benefits of saving, it would be similiar to a real life savings account. That, and it makes it easier for the players to differenciate between NP for spending and NP for a goal, to better keep track of it you might say.

[theonlysaneone]

You silly people, they already have that! It's called the Stock Market. Seriously, if you put 15K NP into the stock market every day, you'll get a much higher return on it than you would by putting it in any kind of bank account.

[MothyrWitch]

Yes but there's a difference between the stock market and a bank account...and that's stability. The stock market can change overnight and leave you with less NP than you started out with. Then you've got to wait 'til the stock rises before you can get your money back. Albeit it's an easy way to make NP if you're patient, it's definitely not equivalent to a savings account.

[DragonDoodies]

Yes but there's a difference between the stock market and a bank account...and that's stability. The stock market can change overnight and leave you with less NP than you started out with. Then you've got to wait 'til the stock rises before you can get your money back. Albeit it's an easy way to make NP if you're patient, it's definitely not equivalent to a savings account.

Anyone who doesn't use the Stock Market in Neopets is literally throwing away NP, and that's a dead on fact. I've been telling people this for ages, including what I said during the last podcast.

Neopian stocks rarely go bankrupt. The last one that did was like 2 years ago or so. Neopian stocks never drop below 6. The minimum you can buy them for is 15. So you spend 15,000 NP a day to buy 1,000 shares of a stock which is trading for 15 NP. Then you choose a sell point. If you're impatient, choose a low sell point-- like 30. Stocks hit 30 quite frequently. Then sell. Boom, you doubled your money. 15K profit for like 60 seconds of work.

My sell point is 60. Meaning when I sell a stock, I make a 300% profit. The stock market generates massive amounts of income for a patient player.

Best Case Scenario: Be patient, make a pile of NP. Never sell for less than your chosen sell point. Amass a huge portfolio of stocks.

Must have NP Scenario: If your stocks are below 15NP / share, wait till any stock you bought goes back up to 15. (This happens very frequently.) Sell- no loss incurred. (This basically amounts to throwing away future profit tho.)

I'm also dead against a second bank account, what a totally superfluous idea... We have a savings account, a 'wallet' so to say where your non-banked NP sit, normally quite safe and secure with the very occassional bad RE, and then the stock market for long term investment...

[MothyrWitch]

I'm not saying the stocks are a bad idea at all. I'm just saying that they can't be compared to a savings account because they can make a profit or cause a loss, depending on the stock changes of the time. And that a savings account allows you to take NP out immediately when you need it. Even you said that either way you must be patient and wait for the stocks to rise above or equal to 15 for you to get your money back. It wouldn't take too long, but with inflation rates on certain items, this could be a breaking point for some Neopians. Personally, I'm fine with the way things are. ^_^ My only bother with TNT right now is the unreleased released item dilemna.

[Cranberry]

You never lose money in the stock market unless you are stupid enough to sell a stock for less than you paid.

(Or unless a stock goes bankrupt... but yeah, that's super rare. And if you've diversified your portfolio enough, it usually doesn't matter much.)

I don't think the stock market is like a savings account (it's an investment), but I don't think a savings account is necessary, either. If someone doesn't have the willpower to save money in the normal bank, a 20NP fee per savings account withdrawal certainly isn't going to deter them.

[Ange]

I don't like the idea of an additional bank account, either.

What we have already is a "savings" account. Why should TNT make it easier for us by adding separate accounts with higher interest rates? I don't know about you all, but my real-life bank account has a horrible interest rate! I'd be better off putting any extra cash in a mutual fund. On Neo...I put money in the stock market every few days.

I don't think it's too hard to keep myself from spending NP I'm using to save up for something. If I really wanted, I'd make a spreadsheet to detail my total NP gained/lost each day.

[bgryph]

I think the primary benefit would be the educational aspect. In real life you have more choices than just the stock market (repeat after me, "index funds") and your savings account.

Having multiple savings accounts is also pretty common: it makes it easy to keep seperate the money you're saving for different goals: a vacation, emergency funds, etc.

I think the NP equivalent of a CD would be sort of cool: put your NP in, you can't get to them for 3 months or whatever, but they earn more interest than they would in the bank for that time period.

I don't think the site really "needs" it, though, nor do I expect to see it implemented.