LL to adopt Transferwise payments?

[Naiman Broome]

I am wondering if is possible to ask LL to adopt transferwise for payments abroad Instead of skrill and Paypal?

Those last suck too much on exchange commissions that goe from 3 to 5%  compared to the 0.5% of Transferwise that is based on a p2p money exchange ...

 

That said What you think of it?

 

http://internationalmoneytransfers.org/transferwise-vs-paypal/

[sirhc DeSantis]

Why not accept the mechanisms available and work with. EU (for now sigh) and never had a problem even if I have E-residency

 

[Alwin Alcott]

On 19-6-2018 at 1:19 PM, Naiman Broome said:

That said What you think of it?

i see quite some reviews online that state payments can take a few days to complete, LL is never going to accept that for L$ and other instant fees i think.

I can imagine premium subscriptions and landfees are a bit less urgent to be performded instantly. But not very likely they'r interested for implimentation of such different sources to get their money.

[LittleMe Jewell]

On 6/19/2018 at 5:19 AM, Naiman Broome said:

I am wondering if is possible to ask LL to adopt transferwise for payments abroad Instead of skrill and Paypal?

Those last suck too much on exchange commissions that goe from 3 to 5%  compared to the 0.5% of Transferwise that is based on a p2p money exchange ...

 

That said What you think of it?

 

http://internationalmoneytransfers.org/transferwise-vs-paypal/

You could always put in a JIRA Feature Request.  You never know until you try.

[Naiman Broome]

On 21/6/2018 at 7:29 AM, Alwin Alcott said:

i see quite some reviews online that state payments can take a few days to complete, LL is never going to accept that for L$ and other instant fees i think.

I can imagine premium subscriptions and landfees are a bit less urgent to be performded instantly. But not very likely they'r interested for implimentation of such different sources to get their money.

I don't understand what's the issue behind it? Even LL takes some days to complete a withdrawal .  ALso I am referring to withdrawals not to payments.

[Fionalein]

Every payment method comes with costs, those costs include setting it up, training persons to do the support for it, paying those persons to hang around, fees ... if the business folks decide the cost are worth the expected bonus in income they will add it - if not they won't bother.

Edited June 26, 2018 by Fionalein

[Alwin Alcott]

2 hours ago, Naiman Broome said:

I don't understand what's the issue behind it? Even LL takes some days to complete a withdrawal .  ALso I am referring to withdrawals not to payments.

LL uses only two way methods at the moment. Even Credit Cards are tested for this, and when it fails or takes to long, the CC gets declined.
A slow reveiving payment is, as understandable, not acceptable for the LindeX transactions.

Also, why add a new method if you have the largest possible coverage in the world with paypal and skrill. This new one would only be a doubling, it adds no new areas.
And often forgotten... costs... including the ones that Fiona already mentioned, people forget companies aren't free to use those services and pay higher fees than simple users as most SL residents.

 

[Naiman Broome]

16 hours ago, Alwin Alcott said:

LL uses only two way methods at the moment. Even Credit Cards are tested for this, and when it fails or takes to long, the CC gets declined.
A slow reveiving payment is, as understandable, not acceptable for the LindeX transactions.

Also, why add a new method if you have the largest possible coverage in the world with paypal and skrill. This new one would only be a doubling, it adds no new areas.
And often forgotten... costs... including the ones that Fiona already mentioned, people forget companies aren't free to use those services and pay higher fees than simple users as most SL residents.

 

Because I am not referring for PAyment but for withdrawal metods ... Some of us are not from US and have to pay a lot in terms of Conversion to Paypal like 3.5% or more , with that system instead money would be simply transfered by LL to bank accounts like with Paypal in a quick way , and LL wouln't care if it takes 3 days to reach us as this method would be only used for sending money out.

[Naiman Broome]

16 hours ago, Fionalein said:

Every payment method comes with costs, those costs include setting it up, training persons to do the support for it, paying those persons to hang around, fees ... if the business folks decide the cost are worth the expected bonus in income they will add it - if not they won't bother.

Its just a button on a website for the most, there is no training needed and all  rest is automated, its an easy system just like paypal , but with a 0 % conversion cost instead of 3.5% of Paypal.

[Alwin Alcott]

1 hour ago, Naiman Broome said:

Because I am not referring for PAyment but for withdrawal metods

you don't read ... LL ONLY uses two sided now, payment AND withdraw.

Even with CC not used to withdraw they need to accept payment from LL to be verified as usable.

 

Also you can go in discussion about it, but you asked for opinions, you now only post your disagreements with anyone that doesn't agree with your opinion.... pretty useless.

[bigmoe Whitfield]

4 hours ago, DreamCrawler Martin said:

Bumping this post because creators in Europe are still forced to pay the extra commisions of paypal to convert Dollars to euro. A commision that paypal claims to be "free" but they

set their own inflated exchange rate of a 3.5% 

Transferwise is the only way we could use to convert money to euro without paying massive commisions

Put a jira request in, it's all you can do to get it even seen. but I would not expect it, LL has tilla and that's a legal entity for all monies in and out of SL now, plus the regulations and such.   "fee's" are a part of life,  it sucks,  but you have to sit and look and balance those between what you want to take out and waht you do not want to take out.     

[animats]

Tilia shouldn't need Transferwise or PayPal. Tilia is supposed to be a money transfer company. They should be able to transfer money.

Tilia's connections to the banking system are very weak. They aren't connected to the major banking payment systems, ACH or SEPA or FedWire. They work through the second-tier players, such as PayPal and Skrill. They can't just deposit to your bank account via ACH. When you cash out Linden Dollars from SL, four layers take a cut. If SL paid  out through ACH directly, there would only be two layers. Outbound ACH only costs about $0.25 per transaction if you're a business. Most major banks don't charge their customers for inbound ACH at all.

Tilia's customer list is Second Life, Sansar, and Upland. Which is what it's been for the last year. Sansar is too tiny to matter. Upland doesn't really pay out money. Upland claims they do, but you have to be a privileged user to use that "beta feature", which has been "in beta" since last year. This is a classic red flag - can't get money out. Upland thus looks like a cryptocurrency scam/Ponzi scheme. Arguably, it's bad for Linden Lab's reputation to be associated with them.

I'll bet Tilia will go away or be spun off when LL gets a new CEO.

[bigmoe Whitfield]

8 hours ago, DreamCrawler Martin said:

Jira was opened years ago and its on the first post.
The rest should go in the "how big the impact of fees are in your life" thread for those wanting to discuss about that instead of finding a solution to the topic.

Fee's will continue to go up on LL's end from their providers LL is going to pass those along to us, no company can absorb them directly and expect to continue operation.  this is how life is.

[DreamCrawler Martin]

On 7/12/2021 at 3:53 PM, bigmoe Whitfield said:

Put a jira request in, it's all you can do to get it even seen. but I would not expect it, LL has tilla and that's a legal entity for all monies in and out of SL now, plus the regulations and such.   "fee's" are a part of life,  it sucks,  but you have to sit and look and balance those between what you want to take out and waht you do not want to take out.     

Jira was opened years ago and its on the first post.
The rest should go in the "how big the impact of fees are in your life" thread for those wanting to discuss about that instead of finding a solution to the topic.

[DreamCrawler Martin]

Bumping this post because creators in Europe are still forced to pay the extra commisions of paypal to convert Dollars to euro. A commision that paypal claims to be "free" but they

set their own inflated exchange rate of a 3.5% 

Transferwise is the only way we could use to convert money to euro without paying massive commisions