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Chic Aeon

Cashout Issues

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So since the increase in fees I have been waiting to cash out in order to get the fee percentage down (which I am guessing was the reason for the change :D).   Anyway, can't cash out. I get a message that I have gone over my Lindex Limit but of course that has nothing to do with sending money to Paypal as the US dollars are already there.

 

Yes, I completed a ticket, but wondering if the message SHOULD have been "you need to reconfirm you RL person details".  I didn't have to last year and it is a pain for me as my town ONLY has mail boxes, not home delivery and getting someone to realize that is almost impossible (many times, many places). 

So has anyone else had to reconfirm their info on file for the IRS?   I am hoping the website is just not working right :D. 

 

Thanks.

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No, but last year I was asked a ton of questions, even tho my cshout record was consistent. I sent the previous years sales/ expenses spreadsheet to show exactly where the money came from and went, and told them I could provide my Corporation tax returns. Had to explain who my alts were, who my assistant was. I never was given any limit, tho. And yes, I only process credit twice a month now.

Edited by Pamela Galli

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Well I have the answer although it isn't fixed for me yet. 

My comment from support sent me to a page talking about new cashing out limits (also buying and selling limits but that wasn't my problem). 

 

The thing is, if I can only cash out $1000 at one time, that costs me more because of the new FEEEEEEE from last year.  So I would certainly prefer to have my cash out limit upped. It is very obvious that I am not laundering money with all the $50 gacha payments from tons of different avatars LOL.  And not like I am NEW. 

NOTE THIS IS NEW AS OF MONDAY ACCORDING TO THE ARTICLE.

 

Anyway here is the page for anyone that needs to know. BEWARE -- THINGS HAVE CHANGED.

https://community.secondlife.com/blogs/entry/2136-new-adjustments-to-monthly-process-credit-limits/

 

Edited by Chic Aeon
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Well anyone trying to cash out more than $1000 at once. 

If I send out money (999.99) now it will cost me extra FEE which I am guessing is again part of the point.

AND it is very hard to tell exactly how much you actually get from turning in lindens with the new multiple listing of SO many buyers. I've been taking screenshots with dates. 

It isn't a fortune but it is going to cost more money to cash out now.  At least we have more prims on our land LOL.  

 

Governments big and small and virtual -- not my favorites at the moment. 

PS. I just cashed out 999.00 dollars and got 984.02 so there is no way to "beat" that $15 charge now unless you jump through a bunch of hoops.  

Edited by Chic Aeon

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Yes, more prims and buying down my sims just about balances out the devaluation of the Linden and hired processing fees. 

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@Chic AeonIt's obvious this is to prevent the practice of saving on fees. It was easy to increase my limit. I did it a while back, and they did it fast. I just told them my profit has increased. I'm on $2000 process credit limit, and I may ask to up it again due to these changes. Thanks for the info.

Although I have a feeling it might be stricter now.

Edited by Rya Nitely

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@Rya

Well in December I sent almost $2000 to Paypal with no issues, so yes == something has changed. 

The other possibilities for the change could be wanting to limit the amount of money going out per day and / or a governmental issue.  I suspect from some other comments I have heard that you may now need to prove a need. So unless you are making over $999.99 a month :D it may indeed be difficult to get your limit upped. 

 

Some folks that I have talked to assured me that they either had no limit or that their limit was high. I am wondering if that is still the case as mine obviously changed :D.  Time will tell. 

PS. Have you check recently to see if you are STILL at $2000. I am thinking they may have rolled back folks as they definitely rolled back me :D. 

Edited by Chic Aeon
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Mine has changed too. I always aimed for around $3000 per process credit to reduce fees, but I won't be able to do that now. It will have to be under $2000 a month. So, $15 every month in fees.

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I'm on $2000 process credit limit. I never had a process credit limit before, because this is new. I meant to say I changed my sell limit to Resident 2 a while back, so this automatically put me on the higher process credit limit. There was a chart that showed the different trading levels , but I don't see that now.

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All very strange.  I always sell at 100,000 linden so I can keep track of how the money is fluctuating. Or maybe they just don't like me LOL.  A friend of mine said he HAD a limit and that it is still the same. Not sure if it was a sales limit though as I too didn't think there was a cash out limit before. So perhaps one has been tied to another. 

Moving on.  Some of my money is hopefully on its way. 

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It could possibly have something to do with tier payments too as the folks that I have hear have higher cashout limits also have higher tier payments. I have none; I rent :D .    

 

Ah the mystery. I am just glad I didn't have to redo that IRS "yes I am a real person" thing. THAT was a pain with our PO Boxes only in my town.

Onward!

EDIT:

 

So I went back and looked again and there IS something about tier level that I missed before so while I can SELL 1999 I can only process credit 999.  Seems like that is the answer and I feel better knowing it LOL.   So apparently owning more land let's you save a bit on fees :D.  

 

Your current tier is: Resident 1

LindeX L$ Buy Limit (24 hr): US $0.00 of US $1999.00 used

LindeX L$ Buy Limit (30 days): US $0.00 of US $1999.00 used

LindeX L$ Sell Limit (24 hr): US $0.00 of US $1999.00 used

LindeX L$ Sell Limit (30 days): US $xxxxxx of US $1999.00 used

US$ Process Credit (24 hr): US $0.00 of US $999.00 used

US$ Process Credit (30 days): US $999.00 of US $999.00 used

 

 

 

 

 

 

 

Edited by Chic Aeon

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I rent a homestead, and own 512 meters of land that I get for my premium membership.

Your Current Limits

Your current tier is: Resident 2

LindeX L$ Buy Limit (24 hr): US $0.00 of US $2000.00 used

LindeX L$ Buy Limit (30 days): US $0.00 of US $10000.00 used

LindeX L$ Sell Limit (24 hr): US $0.00 of US $2000.00 used

LindeX L$ Sell Limit (30 days): US $0.00 of US $10000.00 used

US$ Process Credit (24 hr): US $0.00 of US $1999.00 used

US$ Process Credit (30 days): US $0.00 of US $1999.00 used

 

I was a Resident 1 and applied to become a Resident 2 to increase my sell limit. There were different trading levels. like Resident 1 and 2, followed by Business levels. The chart displaying the levels seems to have disappeared. 

 

 

 

 

 

 

 

Edited by Rya Nitely

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@Chic Aeon I don't think the levels has anything to do with how much land you own (or not). I don't own any land, have a free account. My husbands avatar own 512 sqm and has a premium account. Yet we both have the same levels as for LindeX and Process Credit, both higher then the new "default" levels.

I double checked just after the new level announcement and again today.

Edited by Lutricia Roux

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@Lutricia Roux

OK then. I have NO CLUE. Thanks LOL  but see @Rya Nitely's post above yours. She is Level 2 and her levels for cashing out are double mine now (not before the change). 

Edit:  Oh, I see what you meant now about the "levels" not being about land. Gotcha. 

Edited by Chic Aeon

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I asked linden labs for an increase and they said no. I am on the resident 2 level and I already used up entire amount of process credit for the month. Hopefully they will change their mind.

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52 minutes ago, boltbolt said:

I asked linden labs for an increase and they said no. I am on the resident 2 level and I already used up entire amount of process credit for the month. Hopefully they will change their mind.

as far i know you always needed to have bought first.. and than get increase.. you don't have payment info on file, so i'm curious how you managed that.

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I'm commenting on an alt. But I did get denied on my main account. This one should have payment on file though. 

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3 minutes ago, boltbolt said:

 

give one of your alts a own paypal.. he will get also a Limit... might be enough to cover your levels than

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What about the limit to submit your info to the IRS is it 500 a year? Or entire lifetime on sl? People can only have 1 PayPal account I believe. 

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Just now, boltbolt said:

People can only have 1 PayPal account I believe. 

nope.. i have two also, you only can't verify both with the same CC

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1 hour ago, boltbolt said:

I asked linden labs for an increase and they said no. I am on the resident 2 level and I already used up entire amount of process credit for the month. Hopefully they will change their mind.

I think they might calculate how much you earned over a period of time to see if you can spread it out to less than $2000 a month. I still think the purpose is to get the $15 fee more often.

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3 hours ago, Alwin Alcott said:

as far i know you always needed to have bought first.. and than get increase.. you don't have payment info on file, so i'm curious how you managed that.

Sorry read that post as for me and now I can't figure out how to delete LOL. Will keep working on that.

payment info.JPG

Edited by Chic Aeon

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