Have you seen all the recent petitions to make a Bank of Whyville? Well, City Hall does actually use the ideas from those, and here is where it shows.
Now, if you're a Club Why member, and you attend the Meet the Makers meetings, you would know that this has been "on the drawing board" for a while now. The only reason it wasn't done was because Whyville couldn't find a sponsor. Well, thanks to Bankinter of Spain, we now have a sponsor and a bank!
The bank is not only for holding clams. Have you ever been hacked? Did all you clams get stolen? That won't happen anymore. Well, at least it's not as easy as before. You can put away money in a savings account that has a separate password to get into.
So, if you have 1,000 clams, you can put say 900 clams into savings with a separate password so that if you get hacked, you can only lose 100 clams (or what is in your checking account), unless the hacker knows the other password to your savings account. That means don't use the same password for your username and savings account!
You must be wondering by now, "Do I have to pay clams to the bank?" No! If you put money into a savings account, you actually earn money; 1% of what is in the account per day! That can add up!
The last feature is a CD, or Certificate of Deposit. This allows you to put away a large sum of money (over 500 clams) with the bank paying you an interest fee of up to 3%. So, what's the catch? As in real life, you agree that when you deposit the money, you will not take any out of that account until the certain amount of time is up.
Now, there are a few things that will change and will not change with this new banking system. First, you will still receive your daily salary. You will also still be able to purchase things as usual. You will still have your salary ledger, but it no longer has a bank statement in it. So far, that is the only change I see.
Some tips for banking in Whyville:
1) Keep your account password separate from your savings account password, so that if you get hacked you can't lose all your clams.
2) Put money away in savings and CD's.
3) When you put money away, make sure you keep enough in case you want to buy something, or if you have a scion loan like I do.
Well, that's the low down on banking in Whyville. So keep your money safe, and be conservative with your cash.
Signing off, this is Eric5675.
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