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Darkraven Danick

Is there a way to increase the Process Credit limit?

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Hi all.

Since SL now have that nasty 1.5% fee for each cash out, I was saving money and trying to cash out in one time.

But it looks like SL suddently change my Process Credit limit (per day and per 30 days) to $999 USD. That means, if I want to cash out more than that, I'll need to wait for several monthes and pay even more FEE.

This is extremely annoying and ridiculous. Is there a way to increase this limit to a more acceptable amount?  Say, 3000 USD?

If there is a way, what process or steps should I follow, and who should I talk to? =.=

Edited by Darkraven Danick

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Long thread on this at the end of last month. Reports are that The Lab will not up your credit limit unless you can show NEED (for 60 days or so) of going over what you have. So NO saving up to save on the fee it seems.  I got caught with that and now have extra that will eventually get sent out AFTER my 30 days is up again. 

You can file a ticket to up your credit limit (I think it is under the manage money area but not sure). However, as I said I haven't heard of anyone actually GETTING an increase (mine went down as I guess yours did too). 

Oddly some of my friends have cash out limits WAY beyond what they use. Have no clue there.

 

 

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6 hours ago, Chic Aeon said:

Long thread on this at the end of last month. Reports are that The Lab will not up your credit limit unless you can show NEED (for 60 days or so) of going over what you have. So NO saving up to save on the fee it seems.  I got caught with that and now have extra that will eventually get sent out AFTER my 30 days is up again. 

You can file a ticket to up your credit limit (I think it is under the manage money area but not sure). However, as I said I haven't heard of anyone actually GETTING an increase (mine went down as I guess yours did too). 

Oddly some of my friends have cash out limits WAY beyond what they use. Have no clue there.

 

 

 

hi there, thanks for the reply.

I file a ticket already, they close my case very soon, saying that I do not meet the requirements for a Tier increase. They never mentioned what kind of "requirements" I need to meet to increase Tier, all they provides is a bunch of useless links, So, exactly what I should do to meet their "requirements for a Tier increase"? Do I need to get a premium membership? >.<

 

Edited by Darkraven Danick

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As far as I know from the information on that other thread, premium membership is not the criteria. One person was told that they need to show NEED as I said, so you would need to MAKE over $999 US a month for some consecutive months in order to meet their criteria. The point (for them) is that if you are making less than $999 US a month you can cash out each month. This of course keeps you from saving on fees but IS possible.

I will eventually get all my money out this way.  And yes, I suspect a lot of folks asked for an increase and didn't get it. I have no idea why some folks that don't NEED the high limits have them.   

That's all I know. 

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12 minutes ago, Chic Aeon said:

As far as I know from the information on that other thread, premium membership is not the criteria. One person was told that they need to show NEED as I said, so you would need to MAKE over $999 US a month for some consecutive months in order to meet their criteria. The point (for them) is that if you are making less than $999 US a month you can cash out each month. This of course keeps you from saving on fees but IS possible.

I will eventually get all my money out this way.  And yes, I suspect a lot of folks asked for an increase and didn't get it. I have no idea why some folks that don't NEED the high limits have them.   

That's all I know. 

 

I see....>.<   and thanks!

 

eep, LL is getting so nasty on the money issue, they already charge 5% on each transactions on MP, now they find more ways to squeeze out money from sellers...

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I see nothing nasty about taking five percent, and only after an items sells. There is no listing fee, they let you do that for free. Most other places to sell content take 30 or 40 percent. Is LL not entitled to take a tiny cut of 5%?

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31 minutes ago, Pamela Galli said:

I see nothing nasty about taking five percent, and only after an items sells. There is no listing fee, they let you do that for free. Most other places to sell content take 30 or 40 percent. Is LL not entitled to take a tiny cut of 5%?

the 5% is the fee already taken when a selling is done.

another 1.5% is the fee when you cash out.

it now almost becomes 15 USD when every time you proceed credits, since they restrict the proceed credit limit to 999 USD per month.

 

it used to be 1 USD fee for cash out, regardless how much you cash out.

and then they make it 1.5%

and then they make it 1.5%, and limits it to 999 USD per month.

speechless.

Edited by Darkraven Danick

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27 minutes ago, Pamela Galli said:

I see nothing nasty about taking five percent, and only after an items sells. There is no listing fee, they let you do that for free. Most other places to sell content take 30 or 40 percent. Is LL not entitled to take a tiny cut of 5%?

what's worse, now I saved up SOME credits, but they tell me that I'll have to wait for several months, in order to fully cash out. nasty.

Edited by Darkraven Danick

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13 minutes ago, Darkraven Danick said:

the 5% is the fee already taken when a selling is done.

another 1.5% is the fee when you cash out.

it now almost becomes 15 USD when every time you proceed credits, since they restrict the proceed credit limit to 999 USD per month.

 

it used to be 1 USD fee for cash out, regardless how much you cash out.

and then they make it 1.5%

and then they make it 1.5%, and limits it to 999 USD per month.

speechless.

I was addressing only your comment about commissions. I don't have the limit problem some do, but I have had to limit process credit to twice a month now, so I don't really get my money faster now, as was the justification for the fee increase.

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19 hours ago, Pamela Galli said:

I was addressing only your comment about commissions. I don't have the limit problem some do, but I have had to limit process credit to twice a month now, so I don't really get my money faster now, as was the justification for the fee increase.

 

Yet the real nasty part isn't the commissions  :/

Edited by Darkraven Danick

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On 2017/4/24 at 11:21 PM, Chic Aeon said:

As far as I know from the information on that other thread, premium membership is not the criteria. One person was told that they need to show NEED as I said, so you would need to MAKE over $999 US a month for some consecutive months in order to meet their criteria. The point (for them) is that if you are making less than $999 US a month you can cash out each month. This of course keeps you from saving on fees but IS possible.

I will eventually get all my money out this way.  And yes, I suspect a lot of folks asked for an increase and didn't get it. I have no idea why some folks that don't NEED the high limits have them.   

That's all I know. 

 

Well I got reply from the Lindens again:

Quote

  In the past 30 days, you have used $0 of your $999 limit for Process Credit Requests. Please continue to use the LindeX for your normal practices; when you are consistently using the majority of your buying or selling limit each month, we may consider an increase to the next level. For future limit reviews, please open a new support ticket (Category: Billing, Type: LindeX Billing and Trading Limits Review Request).

 

Simply put, if you didn't let them earn enough money on the Processing Fee, they won't increase your process limit.

Now all they care about is how much they can earn from you.

Shamelessness has reach a whole new level.

Edited by Darkraven Danick

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On 4/25/2017 at 2:09 PM, Darkraven Danick said:

 

Well I got reply from the Lindens again:

 

Simply put, if you didn't let them earn enough money on the Processing Fee, they won't increase your process limit.

Now all they care about is how much they can earn from you.

Shamelessness has reach a whole new level.

You do realize that Linden Labs is a business don't you?  If they don't make some sort of a profit, then they would lose money and go out of business.  It seems to me  people don't take into account the amount of time and money that LL puts into Second Life and the Marketplace.  They are doing us a favor by offering what they do and we should be grateful that they only take a very small amount of money for doing it when they could easily charge way more.  Stop expecting things to be free or nearly free, it's honestly not a fair expectation.

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On 4/23/2017 at 8:26 PM, Darkraven Danick said:

This is extremely annoying and ridiculous. Is there a way to increase this limit to a more acceptable amount?  Say, 3000 USD?

Yes, do business with any other company in the world. No one else holds funds by arbitrary limits that you've legitimately earned hostage.

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23 minutes ago, DartAgain said:

Yes, do business with any other company in the world. No one else holds funds by arbitrary limits that you've legitimately earned hostage.

Especially because you've already fulfilled all the tax requirements to consider your un-cashed US dollar balance as income, including tracking where it all came from so you could correctly handle VAT from Europeans.

 

Oh, wait...

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register as company and all is solved! .LL will raise all your limits and as extra service they will send a record of all your transactions yearly to the IRS or other Tax offices and you will be lots better off...for example loose 20% - 50% as taxable income.... much better!

The tax offices will be very interested in you when you monthly transfer more than 999 usd to rl from a virtual world.

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2 hours ago, Theresa Tennyson said:

Especially because you've already fulfilled all the tax requirements to consider your un-cashed US dollar balance as income, including tracking where it all came from so you could correctly handle VAT from Europeans.

 

Oh, wait...

That doesn't explain an imposed limit that you can only go beyond if you can prove you actually need it. As I said, no other company does it. You earn your own money, you get your own money. Tax reporting is on both parties in the real world and not dependent on holding it back. Likewise no one holds it back for your own good for extended periods ... because fraud.

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14 minutes ago, DartAgain said:

That doesn't explain an imposed limit that you can only go beyond if you can prove you actually need it. As I said, no other company does it. You earn your own money, you get your own money. Tax reporting is on both parties in the real world and not dependent on holding it back. Likewise no one holds it back for your own good for extended periods ... because fraud.

Your "money" is not money. It only becomes money when Linden Lab decides to make it so. It's just the same as an employer sending you your payroll check after deducting taxes, health insurance fees, etc. If that bothers you I hope you never work for a service business and see the difference between the billing rate your employer charges their clients for your work and what you actually get.

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47 minutes ago, Theresa Tennyson said:

Your "money" is not money. It only becomes money when Linden Lab decides to make it so. It's just the same as an employer sending you your payroll check after deducting taxes, health insurance fees, etc. If that bothers you I hope you never work for a service business and see the difference between the billing rate your employer charges their clients for your work and what you actually get.

Ah right. The funny money liability dodge.

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There is obviously something to gain for LL by holding our US$ funds hostage for many months... I now need to wait 6 months (!!) to get all the funds out that i have hoarded. If it was the fee issue, it could have been "solved" by leaving the 24hour limit as is now but raising our monthly limit, thus making us pay loads of fees for transactions but only hijacking our funds for a few days rather than many months... I suggested this in the ticket i opened to request raising my Process Credit limit. I got only this for the reply:

"We are sorry that you are now unable to make a single Process Credit request with an unlimited amount.

If your current US Balance is larger than your daily limit, it will be necessary to request an amount equal to, or lesser than, your daily limit until you reach your 30 day limit and then wait a few days until you are able to make another Process Credit request.

While we understand that these changes may not be convenient for all users, the changes have been made to comply with US laws and regulations."

What law is this by which they now keep hostage many thousands of US$ for many months?

What do they do with that money? How does LL benefit from having this money sit there for such a long time?

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6 minutes ago, Elvina Ewing said:

There is obviously something to gain for LL by holding our US$ funds hostage for many months... I now need to wait 6 months (!!) to get all the funds out that i have hoarded. If it was the fee issue, it could have been "solved" by leaving the 24hour limit as is now but raising our monthly limit, thus making us pay loads of fees for transactions but only hijacking our funds for a few days rather than many months... I suggested this in the ticket i opened to request raising my Process Credit limit. I got only this for the reply:

"We are sorry that you are now unable to make a single Process Credit request with an unlimited amount.

If your current US Balance is larger than your daily limit, it will be necessary to request an amount equal to, or lesser than, your daily limit until you reach your 30 day limit and then wait a few days until you are able to make another Process Credit request.

While we understand that these changes may not be convenient for all users, the changes have been made to comply with US laws and regulations."

What law is this by which they now keep hostage many thousands of US$ for many months?

What do they do with that money? How does LL benefit from having this money sit there for such a long time?

Take a deep breath. 

In the OLDEN days when people  actually EARNED some interest money on our money (in banks and such) then keeping creator's US funds would have been good for LL because of interest. But these days with interest so low -- not so much. If you want to delve into conspiracy issue territory you might say that a bumper crop of extra money could act as collateral for loans. I doubt that is a viable theory. Most likely as others have said, this is simply a way to make a bigger fee since there is only a cap now for folks that send out very large amounts each month. So all of us little folks are paying a bit more. It adds up. 

 

According to numerous reports if you show The Lab that you used your full processing limit three months in a row, they will (in theory anyway) then increase your limit.  Several people have reported that info. I never applied for an increase as I knew it was useless. 

While I had "some" extra money in my account and planned to take it out on the quarter, leaving a ton of money in SL is likely not the smartest move anyway. While nothing is safe, at least the banks in the US have some safety backing should they fail. 

It should also be noted that we "signed" agreements to all of this by accepting the Terms of Service.  ^^ So, our responsibility too.  Their grid; their rules.  That hasn't changed. 

 

 

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@Chic Aeon: I get it. I screwed myself over by trying to save on cashout fees. If only i was clairvoyant i would have cashed out all of it as i was going to in March. I decided to wait some more (what could have happened right? i cashed out as much as 9900 in one go before - stupid bloody naive!) If LL was decent they would have given us a headstart warning "Hey folks, in a few days we are going to change the cashout policy." But why would they, corporate sharks don't give a ** about people. Stupid bloody naive to think they would.

Again, if this was just about the fees, - why not raise the monthly limit, but keep the 24hour limit?? They will get 75US$ from me alright if i have to get all that money out in 5 transactions now, but then i won't need to wait 6 months, but only 5 days!! But no, they won't do that. Why not? No sensible answer.

It's not just about the fees. There is much more to it.

Take a deep breath, sure. People get killed for less than what is now sitting on my account, and will be sitting there for at least 6 more months. Not your problem, sure, who cares right. And in the meantime my account will generate even more US$ that will take forever to withdraw unless they stop being this nasty for no apparent reason and agree to up my limits. In my desperation i even considered to shut down my MP store for the time being...

What i don't understand - why do i need to show consistent need to withdraw that much now? My account is 10 years old. All they have to do is take a quick look at my Process Credit history, it's all in there. How much of withdrawal need there is, how much my account generates, it's all already there.

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7 hours ago, Elvina Ewing said:

I now need to wait 6 months (!!) to get all the funds out that i have hoarded.

guessing you'r also on the 999 level... whe on earth did you keep 6000 dollars in SL ... if it is as you say hoarded, you could have taken it out long ago.

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Quote

<snip>

What law is this by which they now keep hostage many thousands of US$ for many months?

What do they do with that money? How does LL benefit from having this money sit there for such a long time?

</snip>

 

"Each MSB [Money Service Business] is required by law to have an effective anti-money laundering (AML)compliance program. The regulation requiring MSBs to develop and maintain an AML compliance program is contained in 31 CF 103.125. Each program must be commensurate with the risks posed by the location, size, nature and volume of the financial services provided by the MSB."  Source: Page 10

And in the U.S. MSBs can face stiff fines for failure to enforce stringent AML activities.  Source

Edited by Perrie Juran
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3 hours ago, Perrie Juran said:

 

 

"Each MSB [Money Service Business] is required by law to have an effective anti-money laundering (AML)compliance program. The regulation requiring MSBs to develop and maintain an AML compliance program is contained in 31 CF 103.125. Each program must be commensurate with the risks posed by the location, size, nature and volume of the financial services provided by the MSB."  Source: Page 10

And in the U.S. MSBs can face stiff fines for failure to enforce stringent AML activities.  Source

Exactly, it all comes down to an arbitrary implementation to try to comply with currency regulations. Something that originally got them around all financial regulations, which is why I started advocating for regulating virtual currency a good couple years before the government finally stepped in. But LL made their bed when they wanted to use virtual currency as another source of revenue. And it is quite profitable for them.

But we're also in a position where it's not real-world fair to the people earning REAL money (it's all real money now) and the ability to get at it as real world transactions go.

Much more regulation is needed, from ToS's that don't even resemble a contract that acts in BOTH parties interests, business laws, a users right to a fair legal representation which LL blocks with arbitration clauses, and on it goes.

The bottom line for me is that if the company wants to deal with real world business, there should be no hiding behind "virtual" concepts. It's not fake money, it's not fake business. If you run a business, you follow ALL regulations like the rest of us.

Edited by DartAgain
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@DartAgain Woot my @ worked this time.

Quote

Much more regulation is needed, from ToS's that don't even resemble a contract that acts in BOTH parties interests, business laws, a users right to a fair legal representation which LL blocks with arbitration clauses, and on it goes.

Has anyone READ the TOS of any of the big companies. Most of them have no regard for their "customers" at all. This is not new news but it is getting worse.  We can always NOT agree (and I have to some :D) and opt out. 

I do agree that it is NOT fake money -- anything that can be turned into dollars or francs or pounds etc is REAL, even if it were colored plastic beads :D.

 

 

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