I recently explored the use of Secondlife banks. While searching I found out about JT Financial (secondlife link) which is a fairly popular inworld bank that pays the best rate I’ve seen so far. Below is a description of their bank/rates from their website: jtfinancials.com…
JT Financial offers our customers a sound banking system. We strive to offer a very competitive if not the best interest rate available on SecondLife along with a very supportive and friendly customer service. We can offer a very competitive interest rate because customer’s funds are invested in a Real-World high-yield investment strategy that can provide us returns of .5% to 3% daily with very limited risks.
Setup of accounts is very easy. You simply pay one of their atms and your account is automatically created. You can check you balances by typing /10 balance and withdraw money by entering /10 withdraw AMOUNT where AMOUNT is the amount you wish to withdraw. You can do you banking anytime 24 hours a day.
So far I have I have received regular desposits of my interest daily from JT Financial as advertised. I think they run a really good system and service… whenever I’ve gone to the main bank, there are always customer service people there to help.
However, since there is no insurance of any kind, you could potentially lose some or all of your money. The continued interest and as well as your principle being preserved is dependent upon JT Financial’s investments continuing to make money.
I believe the best strategy would be to spread your extra Lindens among several different respectable banks. I will be looking into other options to help diversify the risks.
June 22, 2007 @ 4:19 am
Midas is presently offering 0.2% interest daily; Ginko is at 0.13% as is Allenvest.
June 24, 2007 @ 10:08 am
Thank you for the tip Nobody! I will check them all out.
November 6, 2009 @ 2:38 am
How does this really work
November 6, 2009 @ 10:07 am
Unfortunately, most of these banks are no longer operational. JT Financials has become: slcapex.com, where you can now buy and sell shares of individual companies within Secondlife.
May 21, 2011 @ 3:27 am
Banking hasn’t been allowed in Second Life for over 3 years, however SLCapEx is now the new Capital Exchange, and it’s thriving. We have 30 companies now listed, and more joining every month. Come check us out in Second Life at Crystal Springs, and our website of slcapex.com .
Skip Oceanlane, CEO and Majority Shareholder, Capital Exchange
November 3, 2011 @ 4:59 pm
Good news – slcapex.com is still going strong. We now have more than 50 virtual companies listed. For more information, check us out or contact me within Second Life!
Skip Oceanlane
CEO and Majority Shareholder
Capital Exchange
http://www.slcapex.com
December 6, 2011 @ 7:22 am
Wow this is the best return I know of. I’ll try this out.