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starflitz

Second Life Linden Lab

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Hello I have been looking at trying to exchange my Lindens for USA Dollars... I was wondering if anyone has ever been scammed by Linden Lab and are they legit? I'm worried of how things are going to work... I will need to put into PayPal and then transfer to bank... Has everything went smoothly for you?

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8 minutes ago, starflitz said:

 

Well I am just scared because I spoke to the lady at the bank and she was telling me people can send fraud checks and if something happens they will come after me and it can be a long process and I do not want to have to go through all that and I'm pretty new to stuff so I'm not sure what could happen. It's enough to make anyone sketched out. I do not just come on Second Life just for money but I'd like to know it could cause something big to start rising. But the background material can you send to me.

My understanding is that it is a multi-step process - first you sell your lindens on the Lindex and the result of that goes into your SL USD balance.  If you then choose to cash out, the funds are sent to your paypal account. 

If you then decide to transfer the funds to your bank, that is done from within Paypal - just like any other transfer of Paypal balance to your bank, and at that point, it has nothing to do with LL. 

There are fees involved with each of the steps, and it is not instantaneous. 

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1 hour ago, starflitz said:

I was wondering if anyone has ever been scammed by Linden Lab and are they legit?

If you are going to worry about that, you might was well leave now. The only way that you can bring money into SL or take it back out is through the LindeX.  If you don't think that you can trust Linden Lab, find another place to spend your free time. 

In my own personal experience, in the past eleven years I have never had any problems moving money in or out of SL.  As a volunteer here in the forums for most of that time, I can only say that most people who have had problems were either (1) trying to do something non-standard (2) working from a country where Internet banking is difficult, (3) not reading background material in the Knowledge Base or (4) rarely -- trying to scam the system themselves.  Remember that there are parts of the system -- PayPal and your own bank -- that are entirely outside of SL.  They have their own rules and timelines.  Local government regulations and ISP requirements can also add complexity for some people.

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2 minutes ago, Rolig Loon said:

If you are going to worry about that, you might was well leave now. The only way that you can bring money into SL or take it back out is through the LindeX.  If you don't think that you can trust Linden Lab, find another place to spend your free time. 

In my own personal experience, in the past eleven years I have never had any problems moving money in or out of SL.  As a volunteer here in the forums for most of that time, I can only say that most people who have had problems were either (1) trying to do something non-standard (2) working from a country where Internet banking is difficult, (3) not reading background material in the Knowledge Base or (4) rarely -- trying to scam the system themselves.  Remember that there are parts of the system -- PayPal and your own bank -- that are entirely outside of SL.  They have their own rules and timelines.  Local government regulations and ISP requirements can also add complexity for some people.

 

Well I am just scared because I spoke to the lady at the bank and she was telling me people can send fraud checks and if something happens they will come after me and it can be a long process and I do not want to have to go through all that and I'm pretty new to stuff so I'm not sure what could happen. It's enough to make anyone sketched out. I do not just come on Second Life just for money but I'd like to know it could cause something big to start rising. But the background material can you send to me.

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Just read articles in the Knowledge Base, starting with this one

Linden Lab, like any Internet business, has to comply with a host of state and federal laws that govern commerce and finance.  They are very careful with the way that they handle accounts.  If you use good common sense and ask questions when you don't understand something, you will be fine.  As I said earlier, the only times I have seen people have problems were unusual cases -- most commonly due to not doing their own homework.

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17 minutes ago, starflitz said:

Well I am just scared

are you really or just want attention?..

just a bit curious, because you didn't know anything about streaming, sam, vdj, at the start of this month  and two weeks later you'r promoting yourself as experienced sl dj.....

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53 minutes ago, Alwin Alcott said:

are you really or just want attention?..

just a bit curious, because you didn't know anything about streaming, sam, vdj, at the start of this month  and two weeks later you'r promoting yourself as experienced sl dj.....

Promoted as a experienced DJ? Since when did I put that?  A lot of people must be bored on here every time I get on Forums people are super rude so just forget it. I thought this is what Forums was for? Was for help but you get bunch of rude people.

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I just looked at your inworld profile and you have no payment info in file.  You need to set that up before you can consider taking L$ out of second life

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1 hour ago, Cindy Evanier said:

I just looked at your inworld profile and you have no payment info in file.  You need to set that up before you can consider taking L$ out of second life

I just looked too.  He does have PIOF, so that should not be an issue.  That may not be enough, of course, if he has never bought L$ to start the activity clock on his account.  A resident is not allowed to sell L$ until his account has been active for at least one month.

EDIT: This is strange.  I double checked by running a LSL script in world to be very sure, since I found it hard to believe that you and I were seeing different things, Cindy.  It looks as if you were right: He has no payment information on file and no payment information used. 

Edited by Rolig Loon
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2 minutes ago, Rolig Loon said:

I just looked too.  He does have PIOF, so that should not be an issue.  That may not be enough, of course, if he has never bought L$ to start the activity clock on his account.  A resident is not allowed to sell L$ until his account has been active for at least one month.

ooooo a apologies then I must have had my wrong eyes on :ph34r:

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22 minutes ago, Cindy Evanier said:

ooooo a apologies then I must have had my wrong eyes on :ph34r:

Hrmmm ... Not so fast.  I edited my post above.  I don't know why the web profile doesn't agree, but it's apparently wrong.

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1 hour ago, Rolig Loon said:

Hrmmm ... Not so fast.  I edited my post above.  I don't know why the web profile doesn't agree, but it's apparently wrong.

Totally odd.

@starflitz - You will have to add your Paypal, and it must be a verified PayPal.  Due to your web showing "payment info on file", but the inworld script not showing it, you may or may not already have established your LindeX limits.  If your LindeX limits have not yet been set, you'll need to first buy some L$ and then wait 30 days before you can sell and then 'process credit' to cash out.

 

 

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OK, regardless of the OP's payment status...

Starflitz:

Linden Lab has been operating the Second Life virtual world for almost 15 years now.  Every month, millions of real world dollars flow into and out of Second Life.  If LL were the type of outfit who ran scams, they'd have been closed down a long time ago.  (However, a small minority of Second Life USERS are scammers.  You don't need to worry about LL, but you should be properly cautious of deals that appear to be too good to be true.)

While LL does not scam people, they DO have a pretty long list of rules and procedures for getting money into and out of Second Life.  A lot of these are designed specifically to PREVENT fraud.  But you do have to familiarize yourself with them, so you don't get confused or blindsided by something that you didn't know about.  You should read the information at this link: https://community.secondlife.com/knowledgebase/english/buying-and-selling-linden-dollars-r46/

Briefly:

  • You need to have a payment method on file.  This can be a major credit card, or (especially if you want to sell $L as well as buy them) a verified PayPal or Skrill account.
  • "Verified" means that the account is backed up by a credit card or a real life bank account.  Follow the procedures on the PayPal or Skrill websites to do this.
  • You have to first purchase some $L before you can sell $L.
  • Whether buying or selling, you have two options.  You can buy or sell at the current market rate.  These orders are filled almost immediately.  Or you can offer to buy or sell at a specified exchange rate (a "Limit" buy or sell).  In this case, your order will remain open until someone is willing to sell, or buy, at the rate you're offering.  Depending on your offer, the order could be filled in hours, or a couple of days, or remain open forever, if you are asking an unrealistic rate.
  • When you sell $L, the money goes into the $USD Balance section of your account.  You then need to do a "Process Credit" transaction to transfer $USD from your Second Life account to your PayPal or Skrill account.  From there, you can transfer it to your bank.
  • There are fees.  There's a flat fee of $0.99 USD for any $L purchase.  There's a 3% fee assessed for selling $L.  And there is a transfer fee for moving money out of SL to PayPal.

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