Questions about SL banks

I have a generall question, about SL banks. As most know, there are handful of banks of of there, with different interest rates etc.

- Now my question is, what are your experience with this banks?
- Did you ever had problems, withdrawing your money?
- Did anyone lost any money, cause a bank closed?
- Is it worth/safe to deposit money there? If so, which banks have a good reputation and are trustworthy?
- What's good daily interest rates on SL banks?

Hope you forgive me my dumbness, i just never had businies with banks, but lately i got interested into depositing some L$.

You'll get lots of replies to this, but the quick answer is that there is no such thing as a "bank" in SL. You are giving your money to an individual with no protections whatsoever. And yes, many people have lost some or all of their money when banks closed suddenly. Best to think of it as gambling rather than saving. You MIGHT make some money, but there is a LOT of risk.

Just my opnion/observation.

Here is a recent thread on the topic /327/dd/230683/1.html

Do a search for "Ginko" in the forums and you will find many more like it.

yup, just look for ginko and you`ll never give a "bank" a single L$ lol

Be your own bank.

The problems with so called banks in Second Life are notable enough that you can find plenty of talk outside of the SL forums.

Just putting

"second life" bank ponzi OR failure

as the search term in Google will yield some useful results.

"BANK" in SL really means:

"Completely unsecured, unregulated private loan to one other resident who has no obligation to pay you back other than his or her word."

and thats all it means.

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If you like loaning money to relatives and charge interest; by all means invest in SL "banks" the experience is similar.

Except its harder for your relatives to poof when they don't pay you back.

You probably have better odds of fair treatment from handing a wad of cash to a randomly selected stranger on a street corner than from an SL bank. At least you know what the stranger looked like, and what location you saw him in on that day.

For all the negitive talk about banks.. I have never once lost any cash in any of them.
If you want to know about banks in sl go in world and ask thier customers. The people here on the fourms always give the same old tired responce and I really doubt if they have ever really looked into them more them then just headlines on the fourms.
LOTS of people in world use banks in sl you just need to do your research on each one you are looking at.

Well I have seen alot of bad about em on these forums, so I'd say invest at your own risk.

SL banks and stock markets are ok for fun. Deposit L$100,000 and you can role play the big time bank investor or stock guru. In RL you might not be able to open an account with that.

Just be prepared to role play Black Thursday and the bank run too.

QFT. This says it all.

It is great for those like Tristin who have been lucky so far to have found a bank that has worked for them. Lucky because there is no regulation whatsoever by the government or Linden Labs to ensure they act properly with your money.

"So far". Those are the key words. All SL banks do what they say they will. Until they don't.

For me it's not remotely worth it to be invested on the day it all heads south.

SL Banks are a huge risk. However I haven't lost money in an SL bank yet. I have never really invested much to be honest because they are unregulated and there are no guarantees.

I've never had trouble withdrawing money.

I don't believe my money is safe with them.

This is true. They are for fun, and not for huge profit.

Don't dump all your money in an SL "bank." That should be common sense. If you dumped all your lindens into a company, then you have no right to blame the company when it goes belly-up; you gave them your money freely.

However, a conservative investment can be very rewarding. If you want to learn while you invest, look for a online stock exchange such as CapEx. Online stock exchanges can teach you more about dividends, IPOs, Prospectuses; all kinds of stuff that the average person may not know much about.

Personally, I've invested in SL companies, watched my investment grow, and then taken that money out before the stock dropped so I could invest in a new up-and-comer. That's what smart investors do. Lazy investors who expect dividends with no effort on their part get what they earn. It's just a shame so many of them come back to the forums and gripe about it.

By the way, I can't stress enough to invest conservatively. If you give a "bank" or stock exchange more than $L200, then you are a probably fool, and will soon be parted with your money.

I have never lost money in SL banks either. That's because the front doors to most SL banks are not large enough for the thousand wild horses it would take to drag me into one.

seriously, is there a particular reason why a person can just bank their own money in paypal?