Using Lindens to pay Premium cost?

[Stephy Silvercloud]

Ok so, I have had a Premium account in SL for a few years now. I pay the $9USD per month. Someone told me you can use your Lindens to pay for the Premium instead of USD. One friend told me she got Premium once and that she purchased it using Lindens.  Is this possible, and if so, how? I've been in SL since 2009, & I did try to research this once, and wasn't able to figure it out at the time. I know how to convert my Lindens to USD on my SL account. I'm assuming that you probably have to do that first? But, from there how do I do it, using that USD amount on my SL account?

[Cube Republic]

You're correct, cash your lindens out to your account and leave the US$ balance there without transfering to paypal.

[Stephy Silvercloud]

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Cube Republic wrote:

You're correct, cash your lindens out to your account and leave the US$ balance there without transfering to paypal.

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What do I do to apply it to my Premium payment? Will they automatically use that, and not pull it from my Debit Card, when payment time comes, or what is it that I need to do/change to make sure they pull it from my USD balance and not my Debit Card?

[Cube Republic]

yes, the amount owed will be taken from your us$ balance first

[Stephy Silvercloud]

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Cube Republic wrote:

yes, the amount owed will be taken from your us$ balance first

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Awesome, tysm!

[Prokofy Neva]

You have to make sure this is the cheapest way to pay your Linden tier.

Yes, you have to cash out your available Lindens to turn them into US dollars which can then pay your bill.

But you have to make sure you cash them out at the best rate. You can either set your purchase of dollars with Lindens to "instant" which is NOT the best rate, or reset your account to enable "Market rate" and study the menus.

So you could set to 262 right now and get a better rate than "instant," or even set to 261, wait for some days (risky) when you might sell at a slightly better rate.

You'll have to see what the cashout is after fees to see if what you cash out will cover your tier.

It used to be that if you set your account to the annual rate and paid $72 US once, the stipend of 500 a week would pay the tier. Now that's no longer the case. 

[Bobbie Faulds]

The stipend is now 300L a week but if you can afford to pay yearly, it's still the best deal. Based on a rate of 240L per 1USD, if you take the yearly 72USD and deduct the total 300L stipend ($69 USD), you come out with a net cost of $7 USD per year.

[Prokofy Neva]

You are out of date with this information.

There is no rate of 240L per US dollar any more and hasn't been for years.

The current rate is 262L per US dollars, go look at the LindEx.

For a time, it was much better only 3 months ago, i.e. 248, 250. Not anymore. It is now always at 261 or 262.

The more Lindens required to make up a US dollar, the less value that Linden dollar has.

So let's say I saved my $300 stipend ($500 is only for grandfathered oldbies) for 52 weeks and then one fine day decided to buy the $72 annual subscription.

Oops, the best rate today is 261 and that gives me only $57.69. So that means the annual subscription costs me $14.31 and is no longer free as it used to be.

If it were 248, I'd have $60.71 netted, not $69 anyway, perhaps you're forgetting the fees taken out for the transactions which matter because the net is what you have to pay the tier with then.

Most people do not save stipends nor do they want to lay out $72 at once for a game.

So $300 for the monthly premium subscription means it costs $5.06. Many people do not want to plunk down the cost of latte with all the toppings on it for a game, either.

 

[Codex Alpha]

Never use Auto-Renewal on anything - across the internet.

In SL, LL will first check your Account Balance in USD, and take what they need out of that. If you have banking information on file, it will then deduct any shortcomings from that.

If your bank account is linked somehow (perhaps through a linked PayPal account), any shortcomings will be taken out of your personal bank account (through Paypal).

[SkillsFurrystorm]

The fact that LL do not directly accept their own currency probably should tell you a lot.

[VanillaSunsets]

Yes, it tells you LL can't pay their bills with L$... duh. This is still a RL company in case you are so into VR that you forgot RL does need RM (Real money).