hello, I want to open a virtual bank like Alertpay or Paypal, so I wanna ask that What are the Laws Rules for running a Virtual Bank ????? Best Regards Shayan
Depends on the country where you live in and where you want to do business in/with.. In a lot of (european) countries there's a restriction on calling yourself a 'bank', you can't just start a company and call yourself a bank. You need to be registered in that country with official bank regulations, prove you have enough warranties, follow certain procedures, .. Even Paypal is registered in Luxemburg as an official bank. See Paypal's wikipedia entry it has quite some information..
ya when I asked some people here they also told me that, But can I start without registering, Like we start other site, and I dont want to pay users via mail( so my site doesn't comes in money laundering ) I will pay members via Alertpay Paypal eGold etc actually my idea is that I can provide users one portal through which they can pay any payment processor if you dont understand then check a demo what I mean to say http:// epay. thextremezik .com just remove space from it