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Storing Linden Dollars on an alt account


Joker Terasaur
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Ok I've read the banking policy, and did not see anything that said I'm not allowed to store Linden dollars on an alt account. Does this mean it is permitted?  Uses would include the following: saving up for an expensive item, storing L$ for group-related purchases, building up L$ for known and respected charities Such as Breast cancer Awareness, Domestic Violence Awareness, etc

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46 minutes ago, Joker Terasaur said:

Ok I've read the banking policy, and did not see anything that said I'm not allowed to store Linden dollars on an alt account. Does this mean it is permitted?  Uses would include the following: saving up for an expensive item, storing L$ for group-related purchases, building up L$ for known and respected charities Such as Breast cancer Awareness, Domestic Violence Awareness, etc

I can only say that many to most venue (events) organizers have an alt account to take care of JUST the money (and often photos) coming in for that venue. 

SL of course knows (or can find out) who your alts are so storing money in an alt account for other less legit reasons could get you into trouble I guess. I haven't heard of that happening though.  

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I have a club alt that stores L$ club donations to pay for anything club related.

I have a store alt that is the bank for anything store related and holds L$ to pay tier, events, and stuff like that.

I have a peace and quiet alt that occasionally is allowed play money :D

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It is very common to move money among alt accounts.  It's quite acceptable.  The Banking Policy was established in response to a scandal a decade ago, in which resident-owned accounts were charging (and paying) interest, and were operating exchanges for speculation.  Those are now strictly forbidden.

If you are planning to collect money on behalf of a group, please remember that groups cannot own accounts.  An account can only be owned by a single person.  Remember also that according to the TOS (Sect. 4.2): "You are solely responsible for all activities conducted through your Account whether or not you authorize the activity (except to the extent that activities occur because someone gains access to our system without using your identifiers and password). In the event that fraud, illegality or other conduct that violates this Agreement is discovered or reported (whether by you or someone else) that is connected with your Account, we may terminate your Account (or Accounts) as described in Section 5."  Therefore, although it is tempting to share the password on a "group" account so that more than one person can manage its assets, the person who actually owns the account is fully responsible for anything that happens to it and may be ejected from SL for serious violations.  Even if that were not a TOS issue, it is dangerous to share account access anywhere on the Internet.

Edited by Rolig Loon
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