Quitting over Lindens

[Grimassi]

I cannot believe that Linden Labs makes it so difficult to send them money.  It's a strange business model at the very least.  I have a PayPal account, connected to a major credit card (NOT a debit card, an actual credit card).  Yet according to the Linden rep I talked to today, that's no longer good enough.  NOW, my PayPal account has to be connected to an actual BANK account and I have to hand over my bank account routing number to PayPal. PayPal disputes this, by the way, saying that their payment method should be perfectly acceptable to Linden Labs.  This is because, in case somebody, somehow, MAKES money on SL (I've never known anyone that made that much) and wants to withdraw Lindens ,  Linden Labs cannot send it to a credit card, only a bank account.  How about just putting it in PAYPAL for the SL user and let the SL user WITHDRAW IT FROM PAYPAL.  WHY, would Linden Labs need to somehow route it to your bank???  Thats not LL's concern.  Nevertheless, my PayPal account, backed by a major credit card, is no longer good enough..  So, after seven years on SL,  it's apparently time to leave.  No money = not much to do.  So long everyone.  Its been fun, until Linden Labs managed to mess it up.  

[Cindy Evanier]

Double post?

[Ethan Paslong]

2 minutes ago, Cindy Evanier said:

Double post?

share half of his stuff?

[Cindy Evanier]

1 minute ago, Ethan Paslong said:

share half of his stuff?

Deffo!   *sets up a corner of the sim for a yard sale*

[Bree Giffen]

Paypal isn't recognized as a bank by the US government and isnt regulated as a bank. I blame money laundering as the main reason why LL doesn't seem to want your money. Not that you are laundering but LL and online games are seen by the government as possible routes for laundering. 

[MirandaBowers]

I concur with Bree. It is simply an extra step they have chosen to take to help prevent fraud and whatnot. Sure, it may be annoying upfront but it helps prevent things from getting hairy and backtracking down the line.

[Marianne Little]

I already sold my soul to LL, so a bank account number is not going to make a difference.

 

 

 

[Qie Niangao]

1 hour ago, Grimassi said:

 NOW, my PayPal account has to be connected to an actual BANK account and I have to hand over my bank account routing number to PayPal. 

If this is the worst inconvenience FinCEN inflicts on you this year, you lead a charmed existence indeed.

Perhaps that seems harsh, but if it's any consolation: I don't want your stuff.

[Theresa Tennyson]

1 hour ago, Grimassi said:

I cannot believe that Linden Labs makes it so difficult to send them money.  It's a strange business model at the very least.  I have a PayPal account, connected to a major credit card (NOT a debit card, an actual credit card).  Yet according to the Linden rep I talked to today, that's no longer good enough.  NOW, my PayPal account has to be connected to an actual BANK account and I have to hand over my bank account routing number to PayPal. PayPal disputes this, by the way, saying that their payment method should be perfectly acceptable to Linden Labs.  This is because, in case somebody, somehow, MAKES money on SL (I've never known anyone that made that much) and wants to withdraw Lindens ,  Linden Labs cannot send it to a credit card, only a bank account.  How about just putting it in PAYPAL for the SL user and let the SL user WITHDRAW IT FROM PAYPAL.  WHY, would Linden Labs need to somehow route it to your bank???  Thats not LL's concern.  Nevertheless, my PayPal account, backed by a major credit card, is no longer good enough..  So, after seven years on SL,  it's apparently time to leave.  No money = not much to do.  So long everyone.  Its been fun, until Linden Labs managed to mess it up.  

Silly question - why don't you just use the credit card you've attached to PayPal?

[Ethan Paslong]

1 hour ago, Grimassi said:

  I have a PayPal account, connected to a major credit card (NOT a debit card, an actual credit card). 

as asked in the duplicated post.... it it just connected... or also verified... small difference with big consequenses.

[Phil Deakins]

2 hours ago, Grimassi said:

This is because, in case somebody, somehow, MAKES money on SL (I've never known anyone that made that much) and wants to withdraw Lindens ,  Linden Labs cannot send it to a credit card, only a bank account.  How about just putting it in PAYPAL for the SL user and let the SL user WITHDRAW IT FROM PAYPAL. 

LL doesn't transfer money to bank accounts any more - not for a long time. Perhaps if someone is earning mega amounts they might do it. They used to do it but they changed to only doing it for a minimum of US$10,000, and I believe that's way too small an amount now.

However, they DO do what you suggested - transfer money to PayPal - in small amounts.

None of that helps with your difficulty, but in the process of having the difficulty, you've managed to pick up some wrong information.

Edited January 24, 2019 by Phil Deakins

[Lindal Kidd]

You don't have to verify your PayPal account with a bank account, you can do it with a major credit card.

But, you SHOULD verify PayPal with a bank account!  Why?  Because you want to transfer money out of SL.  If you sell your $L and then transfer $USD to PayPal...how are you going to spend it?  It has to be moved from PayPal to some real world financial institution...i.e., a bank account.  You can't transfer money TO a credit card, they are designed to work only in the other direction, spending money.

[Phil Deakins]

It depends how much you're taking out. In recent times, I pay for stuff with PayPal.

[Amina Sopwith]

Forgive me if this is a silly question, as I've no experience of running an SL business. But if you're a merchant and make significant amounts of RL money in Lindens, why would you object to handing over your bank details for payment? 

[Phil Deakins]

You wouldn't. The OP wants to send money to LL, not the other way round.

Edited January 24, 2019 by Phil Deakins

[LittleMe Jewell]

5 hours ago, Lindal Kidd said:

You don't have to verify your PayPal account with a bank account, you can do it with a major credit card.

 

This used to be true, but apparently is no longer true.  I found this on PayPal's website:

 

[Blush Bravin]

39 minutes ago, LittleMe Jewell said:

This used to be true, but apparently is no longer true.  I found this on PayPal's website:

 

Years ago I had to provide bank info to verify my Paypal so not sure when it started but it's been like that for at least five years.

[Sasy Scarborough]

I thought when buying lindens you just used the credit card, why the extra step of going through paypal at all ? I know the other way, just not sure the inwards way.

[Blush Bravin]

The only advantage of using Paypal to purchase Lindens is not having to use a credit card. Then in that case the money in your Paypal account would have to be supplied by your bank account so Paypal would already have the necessary information. Unless, you're earning money that's being deposited directly to the Paypal and you're never depositing the money into your bank account, which leads one to wonder why you'd be hiding your money. Oh this is beginning to sound suspicious. Maybe I shouldn't go down this path.

So yeah, just use your credit card to purchase the lindens.

Edited January 25, 2019 by Blush Bravin

[LittleMe Jewell]

2 hours ago, Sasy Scarborough said:

I thought when buying lindens you just used the credit card, why the extra step of going through paypal at all ? I know the other way, just not sure the inwards way.

 

22 minutes ago, Blush Bravin said:

The only advantage of using Paypal to purchase Lindens is not having to use a credit card. Then in that case the money in your Paypal account would have to be supplied by your bank account so Paypal would already have the necessary information. Unless, you're earning money that's being deposited directly to the Paypal and you're never depositing the money into your bank account, which leads one to wonder why you'd be hiding your money. Oh this is beginning to sound suspicious. Maybe I shouldn't go down this path.

So yeah, just use your credit card to purchase the lindens.

 

I often use my credit card via PayPal for purchases so that I don't have to put my credit card number out there everywhere, thereby minimizing the number of places where the card could get compromised if a site is hacked.  I maintained the same process when I set up my payment method with LL.  

For SL, it used to be that if the PayPal was funded by a bank account, you had to actually carry a PayPal balance because often the bank transfer was delayed and LL wouldn't wait.  Whereas, if a credit card was funding the PayPal, then the money would instantly get to LL and they were happy.  With my bank, the transfer is instantly, just like via my credit card, so I'm not sure if that 'delayed funding' thing is an issue anymore or not.

[Blush Bravin]

2 minutes ago, LittleMe Jewell said:

I often use my credit card via PayPal for purchases so that I don't have to put my credit card number out there everywhere, thereby minimizing the number of places where the card could get compromised if a site is hacked.  I maintained the same process when I set up my payment method with LL.  

For SL, it used to be that if the PayPal was funded by a bank account, you had to actually carry a PayPal balance because often the bank transfer was delayed and LL wouldn't wait.  Whereas, if a credit card was funding the PayPal, then the money would instantly get to LL and they were happy.  With my bank, the transfer is instantly, just like via my credit card, so I'm not sure if that 'delayed funding' thing is an issue anymore or not.

I use PayPal to pay for most of my online purchases too. But as I have mentioned before, PayPal has both my bank info and my credit card info and has had it for many years. I gave that info to PayPal before I started cashing out Lindens and maintaining a balance. Now I always have a PayPal balance from selling Lindens and cashing out. I'm fortunate that SL funds all my online shopping. I haven't had any delays but then I don't pull money from bank or credit card for purchases.

What I find odd in this whole thing is why the OP doesn't want PayPal to have their bank info, and if that's so objectionable then why not just use the credit card that they have guaranteeing the PayPal account. But as you say there is some comfort in having only one source privy to your credit card info. Perhaps understanding that neither Linden Lab nor PayPal are out to get them, but that there are legitimate and legal reasons behind the requirements might make swallowing the outcome more palatable.

[Phil Deakins]

4 hours ago, Blush Bravin said:

What I find odd in this whole thing is why the OP doesn't want PayPal to have their bank info

Years ago, there was a lot of stuff on the web about PayPal's 'bad' dealings with people. It put me off using PayPal for years. I certainly didn't want them having any access to any bank account of mine. Maybe there is still a lot of such reports. When LL stopped doing bank transfers and went over to paying out into PayPal, I had to have a PayPal account, so, for the verification, I used a virtually empty bank account that I was no longer using. I think it had £1 in it.

PayPal isn't a bank, and isn't subject to banking laws, so I still wouldn't want them to have access to any of my money, except the money that LL pays into it for me. I don't trust them with access to my money, and there's every reason not to trust them.

Edited January 25, 2019 by Phil Deakins

[Blush Bravin]

3 hours ago, Phil Deakins said:

Years ago, there was a lot of stuff on the web about PayPal's 'bad' dealings with people. It put me off using PayPal for years. I certainly didn't want them having any access to any bank account of mine. Maybe there is still a lot of such reports. When LL stopped doing bank transfers and went over to paying out into PayPal, I had to have a PayPal account, so, for the verification, I used a virtually empty bank account that I was no longer using. I think it had £1 in it.

PayPal isn't a bank, and isn't subject to banking laws, so I still wouldn't want them to have access to any of my money, except the money that LL pays into it for me. I don't trust them with access to my money, and there's every reason not to trust them.

Maybe I'm fortunate. I've been using it for 15 years without ever having one tiny bit of trouble. I'm super satisfied with their services.

[Phil Deakins]

I think the number of people who have had problems with PayPal is miniscule compared to the number of people who use it, but it's the fact that PayPal can be, and has been, arbitrarily problematic, without any banking laws to protect its users, that cause some people, including me, not to trust it with access to my money.

[Arduenn Schwartzman]

21 hours ago, Grimassi said:

So long everyone.

And thanks for all the fish.