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MasterEdward Avril

How/why can't I transfer money directly to my credit card?

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MasterEdward Avril wrote:

 

why can't I TAKE MY OWN MONEY back out to that SAME ACCOUNT DIRECTLY????

Linden Lab rules.

But see http://wiki.secondlife.com/wiki/Linden_Lab_Official:How_can_I_use_my_US_dollar_balance%3F


Process credit (withdrawal)

You may choose to withdraw your US dollar balance via PayPal or bank wire.

64px-KBnote.png Note: You should only use the bank wire option under  the following circumstances:
  • PayPal will not permit payments to your country
  • You're expecting payment of $10,000 or more
For instructions on setting up wire transfer payments, see "Instructions for setting up Process  Credit payments through wire transfer".
  • PayPal will not permit payments to your country
  • You're expecting payment of $10,000 or more

For instructions on setting up wire transfer payments, see Instructions for setting up Process  Credit payments through wire transfer. |}

Depending on which withdrawal option you choose, you may be  subject to fees and minimum withdrawal amounts. For current information  on Process Credit requests, check out the Process Credit page on the Second Life website. To  view a full history of your Process Credit transactions, view the Process Credit History page.

64px-KBcaution.png Important: You must be in full compliance with the Second  Life Terms of Service to receive any payment through the credit  payment process. This includes, without limitation, the requirement to  have accurate and complete registration information, including  verifiable billing information.

 

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"I appologize if I hurt anyone's feelings"

for what its worth no apologies needed as no feelings were hurt... not on my part anyway.  YOU TYPED LIKE THIS so I TYPED LIKE THIS, simple as that... hardly a big deal.  You replied, so i answered... again no big deal.  My answer still stands which was reasonably given... i don't know why LL won't let you use the card vs paypal in this instance , call the people who deal with such things - LL Billing.  We're residents, all we can do is sympathize.

as for your frustration, ideally we helped you release some haha.  shit happens and nothing is ever a big deal.

noble apology by the way.

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I appologize if I hurt anyone's feelings..  I was clearly frustrated, and everyone seems to love a villain.. so have at it.. but.. know that I could give a shit less what you say at this point.. k?  thx bye

I doubt if you hurt anyone's feelings.  People who volunteer to answer questions here have to have thick skin.

But I will assume you meant to apologize for being an ass and will accept your apology.

--Cinn

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I appologize if I hurt anyone's feelings..  I was clearly frustrated,  and everyone seems to love a villain.. so have at it.. but.. know that I  could give a shit less what you say at this point.. k?  thx bye

 

And thank you so very much for pointing out my mispelling.  I am so happy now.

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Hey MasterEdward,

I think you had a legitimate question and plenty of people vent their frustrations here.

I'm sure if I wanted to get quote happy like some people I could find a few interesting comments from them. People who point out other people's spelling errors also bothers me and few of the enlightened ones here have yet to dazzle me with their grammatical perfectionism.

The answers for your question deals with rl banking regulations and individual State Laws. I agree that the current system does not serve or properly inform consumers in advance as to the total fees which may be incurred through the entire transaction process.

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You are very welcome.  we're excited for you also. 

Might i close by suggesting you submit a jpira and bring it to the Lindens attention, or again call Billing and bring it to the Lindens attention being the answer as earlier suggested.

Being residents we can't fix it; if you're going to be snide about that snide yourself also being no better at fixing it being a resident yourself.  You came here asking a question which was answered literally hours ago and a few times since.

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First off, I need to agree that the process for getting USD out of your account is fairly clearly spelled out, and being upset about that process only screws with your serenity and will do nothing to make the situation better. Quite the contary, you post here in an angry and advesarial bent and you get angry and advesarial responces.

That said, the rules regarding getting USD out of your account really have nothing to do with LL. US credit regulations allow funds to be added back into a debit / credit card or credit card only account only when that amount was originally withdrawn from the account by a purchase.

Example: You purchase an item using your card and decide to return it, that amount can be placed back into the account (reversed).

However, funds can not be placed into the credit card account unless there is a matching purchase. Visa / MasterCard Debit Cards actually draw against your bank balance instead of a credit line, but otherwise the same rules apply. Precharged cards are the same as Visa / MasterCard Debit Cards. When you charge them up, you're putting funds into an escrow account, not into the card.

DR Dahlgren had a good solution if it is available in your country. PayPal offers MasterCard Debit cards that you can use to withdrawn funds from your account and they pay a cash back bonus if used as a Credit Card where you do not enter a pin. This can quickly offset fees charges substanially. I receive 1.5% back so I end up getting my merchant style use of PayPal for only 1.5%, much less than any traditional CC Merchant account.

LL makes a substanial income from the trade in Lindens. This has never been hidden. The Lindex operates like any currency exchange. When you sell or buy you pay or receive a value different from the actual exchange rate. That fee is used to offset exchange costs, protect against market fluctuations and make a profit. Banks, currency exchanges etc all do the same.

The fees charged to place funds in a PayPal account are minimal and don't change based on amount, so its better to save up your dollars and transfer as much as possible. Micro transfers will cost you more in the end because of fees.

The problem for PayPal users is that PayPal operates differently in different countries based on local rules, where LL operates on US law. When I transfer funds from PayPal to my linked bank account I do not get charged, and do not get charged fees by PayPal on LL payments to my PayPal. I don't know how they charge users in other countries. I do however get charged approxmately 3% on funds from eBay and similar uses. Money from friends or personal transactions are not charged either as long as the payor designates them properly when they pay me.

So to sum up, LL makes money buying and selling Lindens. They charge a fee to deposit funds back into a PayPal or bank account to offset costs. While they used to offer to send you a check (for a $15 USD charge) I believe the only method now to withdraw USD from your SL account is to use PayPal or have it deposited to your bank account. Like it or not, believe it fair or not, that is simply the way it is. Use it or don't, thats your choice. But in this particular case I do not see where LL is doing anything to be angry with them about. The rules were there to read before you used the system.

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"First off, I need to agree that the process for getting USD out of your  account is fairly clearly spelled out, and being upset about that  process only screws with your serenity and will do nothing to make the  situation better. Quite the contary, you post here in an angry and  advesarial bent and you get angry and advesarial responces."

 

- Wow, you must be on payroll. LOL

 

 

"That said, the rules regarding getting USD out of your account really  have nothing to do with LL. US credit regulations allow funds to be  added back into a debit / credit card or credit card only account only  when that amount was originally withdrawn from the account by a  purchase."

 

- In all actuality, is that not what I am doing?  I purchased lindens with that bank card.. and am now asking for it to return.

 

"The problem for PayPal users is that PayPal operates differently in  different countries based on local rules, where LL operates on US law.  When I transfer funds from PayPal to my linked bank account I do not get  charged, and do not get charged fees by PayPal on LL payments to my  PayPal."

 

- You may not realize it, but yes, you do.  It clearly states directly on the webpage for using paypal, that PayPal WILL charge you a $1.00 minimum fee.

 

"I believe the only method now to withdraw USD from your SL account is to  use PayPal or have it deposited to your bank account."

 

- So.. if I can have it deposited to my bank account, please explain how?

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