If I cancel limit buy order can I get a refund?

[kawaiianime125]

So...  I think it took too long for me to receive the money so I wanted to cancel the order. Will I get a refund if I cancel it?

[Lindal Kidd]

When you place a limit buy order, the money isn't actually spent.  It's held "in escrow" until the order is filled or canceled, which is why you don't see it in your available $L balance.

You can cancel a limit order by going to the Manage button in the Lindex section of your Dashboard page, and clicking on LindEx Order History.  You'll see your open orders there, along with an option to cancel.

[Nalates Urriah]

As pointed out, you can cancel and there is no cost to you.

Limit buying or selling is the best way to get a deal. You do need to understand how currency exchanges work. 

Today I see buy orders willing to pay US$1 per L$258 for L$2.8k of them, L$267 for 24.8k of them, and L$268k for L$24 million of them. Those will be filled from those willing to sell at those prices. Transactions are stalled as the current seelers have stacked up L$53million to sell at L$257/US$1. If you look at the INSTANT BUY it is currently at L$257/$1, which is what the Buy/Sell order show is pending.

So, you can buy L$ at L$257/$1 instantly. If you are willing to wait, you can probably get L$267/$1. That is L$10 free per dollar spent. At L$268 you and a lot of other people will be waiting some significant time. Sellers are holding out for L$257 right now. When one of them has to pay rent they'll make deal and give up more L$ per US$1. 

[Alwin Alcott]

11 minutes ago, Jazmina Voom said:

The answer given above is not correct anymore as I have discovered to my expense. The amount you place on an order for Linden$ is not refundable.

i might read wrong, but i see nothing about process credit in previous posts, only that the cancelled order will refund to the USD balance.

And it's pretty clear explained in the knowledgebase what the rules are about process credit to rl.

 

Also... my guess is that it is very rare somebody cancels a limit buy and want to pull the money out. 99% will cancel a order because of a mistake in the exchange rate, and use their USD balance directly to buy L$ as market buy.

[LittleMe Jewell]

13 minutes ago, Jazmina Voom said:

The answer given above is not correct anymore as I have discovered to my expense. The amount you place on an order for Linden$ is not refundable.

Actually, the answers given are correct as written because none of those answers discussed  Process Credit, but only that a cancelled Exchange transaction will refund the money back into your Second Life US$ balance.  That money can then be used to pay for anything else within SL - another L$ transaction, MP buys, Premium membership.

 

 

[Rolig Loon]

29 minutes ago, Jazmina Voom said:

"Purchases of account credits and credits due to gift codes or other promotional account credits are nonrefundable, and may not be processed as a payment to you. "

That's pretty underhand IMO and not in keeping with the current trend in business culture of being super customer oriented

Not really.  This makes great sense as a way to prevent money laundering.  The Feds are very suspicious of on-line systems that make it easy to dump illegitimate funds in through one point and pull them out immediately through another one.  Linden Lab could easily get in trouble if they didn't put some kind of restriction in place.

[Alwin Alcott]

49 minutes ago, Jazmina Voom said:

The answer is an unequivocal "no",

that you don't want to listen to others, doesn't make your answer right...

[Cindy Evanier]

1 hour ago, Jazmina Voom said:

Other users will want to know the truth and you are either being deliberately obtuse or do not understand the question.

Nobody is being deliberatly obtuse.  to remove you US$ balance back to rl you have to process credit, it this isnt possible contact support  https://support.secondlife.com/?lang=en-US

The people here are just residents trying to help you

[Cindy Evanier]

3 minutes ago, Jazmina Voom said:

Hi Cindy,

No sweetie, the people on here are not trying to help me, they are just giving out irrelevant information and then "sticking to their guns".

I opened a new question to try to clear up this an now Alwin is over there telling me basically to look back to this thread or contact support.

That is really NOT helping at all.

 

well if residents can't help you then Alwin is completely correct in her response to contact support.  That's what LL are there for.  People here are just trying to help as a courtesy, sweetie

Edited October 3, 2017 by Cindy Evanier

[Jazmina Voom]

OK - I was wrong *blushes*

You can get your refund (minus transaction charges) by processing credit. Mine was not working as I had not selected a payment method.

Thanks for your answer Cindy.

*crawls away and dies*

 

Edited October 3, 2017 by Jazmina Voom

[Jazmina Voom]

On 7/23/2016 at 7:07 PM, Nalates Urriah said:

As pointed out, you can cancel and there is no cost to you.

When you cancel you will have to pay transaction fees when you move your money from your US balance to your preferred external account. 1.5% fee (minimum $3.00 USD fee, maximum $25.00 USD fee ). So there is a cost - minimum $3.

[LittleMe Jewell]

11 minutes ago, Jazmina Voom said:

When you cancel you will have to pay transaction fees when you move your money from your US balance to your preferred external account. 1.5% fee (minimum $3.00 USD fee, maximum $25.00 USD fee ). So there is a cost - minimum $3.

True - but that is not a fee related to cancelling the L$ transaction itself.  If you choose to cancel the transaction and leave the US $ in your SL account to later use for something else, then you are not paying any fees.  

The fees only come into play when you actually take the money out of your SL account back to RL.

[Jazmina Voom]

5 hours ago, LittleMe Jewell said:

The fees only come into play when you actually take the money out of your SL account back to RL.

This is true. My assumption was the original poster, like me, wanted a refund in the sense of getting RL money back into your own bank account.

[Jazmina Voom]

-

Edited October 3, 2017 by Jazmina Voom

[Jazmina Voom]

Shame shame shame

Jazmina

Edited October 3, 2017 by Jazmina Voom

[Jazmina Voom]

Shame shame shame

Jazmina

 

Edited October 3, 2017 by Jazmina Voom

[Jazmina Voom]

The answer given above is not correct anymore as I have discovered to my expense. The amount you place on an order for Linden$ is not refundable.

Quote: " You may only process credit due from net proceeds from sales of Linden Dollars."

By "process" here they mean the action of getting your money back. When you place your order for Linden$, the money goes onto a US$ credit on your account - and it stays there. You cannot get your money back and the Process button will not be active.

https://accounts.secondlife.com/process_credit/

https://community.secondlife.com/knowledgebase/english/account-balance-r1/Section_.2.2?lang=en-US

"Purchases of account credits and credits due to gift codes or other promotional account credits are nonrefundable, and may not be processed as a payment to you. "

That's pretty underhand IMO and not in keeping with the current trend in business culture of being super customer oriented, especially as you have to really dig to get this info.

"NON-REFUNDABLE PAYMENT" should be written all over the buy-order page but it is not even mentioned anywhere.