How About A Transfer Option?

[MasterJunior SecretSpy]

Just paid $6.50~ to transfer funds to PayPal. I make 1 withdrawal a month, 12 a year. I'm going to lose at least $60 to thisnew fee. I don't want your speedy service bil. If you want less transactions enforce transfer limits so people arnt moving $5 at a time.

[Alwin Alcott]

the max fee is $ 15, if you do it with substantil higher amounts you will pay less...

once every 3 months will be at most 15 against 19.5 for 3 times monthly.

It's no solution, but best option in current model.

[MasterJunior SecretSpy]

$15 every 3 months will still put me at $60 in fees compared to $12. I mean they take a % on the sale, on the conversion and now the transfer? That's just greedy. I don't see how they could be hurting for cash with all those monthly server rentals and all that they are getting from market sales. I prefer to take it slow and maximize my profits. When I have time i will find a way to get in contact with them and let them know directly. Make it an option.

[Amethyst Jetaime]

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MasterJunior SecretSpy wrote:

$15 every 3 months will still put me at $60 in fees compared to $12. I mean they take a % on the sale, on the conversion and now the transfer? That's just greedy. I don't see how they could be hurting for cash with all those monthly server rentals and all that they are getting from market sales. I prefer to take it slow and maximize my profits. When I have time i will find a way to get in contact with them and let them know directly. Make it an option.

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You are wrong about the fee.  It is $1.5% up to a maximum of $15.   You can cash out the equivalent of $10K US and still only pay $15 in fees.  You will never pay $60 in fees.  So cashing out every three months will save you fees.

[Rya Nitely]

$15 every 3 months is $60 a year, compared to the $12 a year he was paying on the old fees when done once a month. This is what he meant.

But, if you only cash out once a year then you won't pay more than $15 a year.

[Darrius Gothly]

.. plus the cost of not having access to the money that was left sitting in your L$ account for the full year.

I have to admit, I'm really torn on this. I do appreciate having the money faster. But at what cost? I mean, there is value to receiving the money more quickly, but I just can't say that the value is worth the extra fees paid. Because the fees seem out of balance with the value, and because we have no other choices, it tends to rub one the wrong way ... making you feel like the Godfather made you an offer etc. etc.

/me takes off his tinfoil hat ...

 

 

... this time.

[Rya Nitely]

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Darrius Gothly wrote:

and because we have no other choices, it tends to rub one the wrong way ... making you feel like the Godfather made you an offer etc. etc.

/me takes off his tinfoil hat ...

 

 

... this time.

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This ^. We have no other choice, and not only does it rub the wrong way, but when you have a lot invested in SL, it's a concern. I was cashing out twice a month before, and now I haven't done a cash out since March 23. I'm trying to accumulate to reduce fee cost. I think many others would be doing the same. At the moment I have a sell order in at 250, and this has been there for a few days now. Once this is executed I'll do a cash out and pay my $15 fee, and then wait for 4 or 5 days.

[Pamela Galli]

There is no real connection between fee and expedited processing, they decided on the fee then looked around for some bone they could throw and pretend it had something to do with the fee.

[MasterJunior SecretSpy]

Faster? Not likely. 4th day and still hasn't hit PayPal. I've had faster transfers before with "normal/slow" turnover time.

 

More people need to get in contact with them an request that this be an option. Hell Newegg has rush processing probably like a lot if other sites that cost a fee but it's OPTIONAL.