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ananoelle

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Over the last 2 weeks I've tried to purchase L$ using the limit rate process for my alt so I could sell off my L$ to fill my USD balance to pay for premium. I couldnt afford to pay NZD$110 outright so decided to split it up over two weeks. 

I waited for the first attempt to see if it would go through, it didnt. I was gunning for a bargin and it failed so I cancelled it. The unused $ went into my USD balance. Which gave me the idea to do it again and cancel the next payment after the estimated days so I'd have enough funds to pay for premium. 

Is this something others do to be fill there USD acc to be able to pay their teir/premium or whatever? Is this practice even ok? Ive only been premium for going on a year and this selling buying $L thing to pay fees is new to me. 

I feel its a good way to budget for me if I can bit by bit build up both accs USD funds. If its not ok to do what I've done I won't do it again but I'd like to know if there is anything official regarding this kind of thing re; using the limit buy system but not to buy L$ but to cancel orders to fill USD acc for reoccurring fees. 

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Posted (edited)
1 hour ago, ananoelle said:

Over the last 2 weeks I've tried to purchase L$ using the limit rate process for my alt so I could sell off my L$ to fill my USD balance to pay for premium. I couldnt afford to pay NZD$110 outright so decided to split it up over two weeks. 

I waited for the first attempt to see if it would go through, it didnt. I was gunning for a bargin and it failed so I cancelled it. The unused $ went into my USD balance. Which gave me the idea to do it again and cancel the next payment after the estimated days so I'd have enough funds to pay for premium. 

Is this something others do to be fill there USD acc to be able to pay their teir/premium or whatever? Is this practice even ok? Ive only been premium for going on a year and this selling buying $L thing to pay fees is new to me. 

I feel its a good way to budget for me if I can bit by bit build up both accs USD funds. If its not ok to do what I've done I won't do it again but I'd like to know if there is anything official regarding this kind of thing re; using the limit buy system but not to buy L$ but to cancel orders to fill USD acc for reoccurring fees. 

nothing against it, i think, but if your budget allows, it's more profitable to do one buy, store your dollars at paypal an option?  now you have twice the 1.49 fees if your order passes, thats together close to 3 usd = roughly over 750 L$

Edited by Fox Wijaya
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3 minutes ago, Fox Wijaya said:

nothing against it, but if your budget allows, it's more profitable to do one buy, store your dollars at paypal an option?  now you have twice the 1.49 fees, thats together close to 3 usd = roughly over 750 L$

I wish paypal was a option for me. I have bad habits with online shopping and will quickly find a need to buy something on ebay.

 

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6 minutes ago, ananoelle said:

I wish paypal was a option for me. I have bad habits with online shopping and will quickly find a need to buy something on ebay.

 

edited the post during your response :)  added, if your order passes, ....( with cancelling in time, you shouldn't get to pay those fees i think)
It's a usefull feature lost when they took away to add USD to your account directly.

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3 minutes ago, Fox Wijaya said:


It's a usefull feature lost when they took away to add USD to your account directly.

Wish they would bring it back. I'm no builder nor creator so I need some easy way of filling the account without having to buy then sell L$ to achieve this. Even though I've found a way to not sell or buy but I'm still not sure if its allowed. 

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4 hours ago, ananoelle said:

Is this something others do to be fill there USD acc to be able to pay their teir/premium or whatever?

Yes.  It's a perfectly good method.  You're offering to buy, but at an unrealistic price, so the purchase won't ever be successful.  You cancel the offer and you get your money back ... in your USD balance.  Personally, I would find than more trouble that just feeding a few dollars into a PayPal $ balance every week, but it works.

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6 hours ago, ananoelle said:

Wish they would bring it back.

Then they become a financial institution, which means additional responsibilities and more fraud attempts.

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16 hours ago, animats said:

Then they become a financial institution, which means additional responsibilities and more fraud attempts.

in what matter?... what's the difference with direct USD transfer to your account with the same CC or paypal as you buy your L$?... or like Ana does.. put in a order and cancel so it ends on the USD Balance?...
It adds no extra risks for possible fraud or responsibilities as it has now.

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5 minutes ago, Fox Wijaya said:

in what matter?... what's the difference with direct USD transfer to your account with the same CC or paypal as you buy your L$?... or like Ana does.. put in a order and cancel so it ends on the USD Balance?...
It adds no extra risks for possible fraud or responsibilities as it has now.

i think there is some FinCEN rule about companies providing cash pass-thru facilities. Transfer cash into a company like LL then transfer it out again. If so then would probably be why LL stopped accepting USD cash deposits - accepting purchase-only payments

ananoelle has identified a way to convert a purchase into USD cash. Which could get a bit murky. Hence ananoelle asking the question: Is it ok for me to do this ?

ananoelle, if was me I would raise a Support Ticket, explain what you want to do and ask if it is ok. You might/might not get an absolute response, dunno. Whichever way, then you do at least have it on record with Support should you proceed, and should ever questions be asked of you by LL at some later time

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Posted (edited)
13 hours ago, Mollymews said:

i think there is some FinCEN rule about companies providing cash pass-thru facilities. Transfer cash into a company like LL then transfer it out again. If so then would probably be why LL stopped accepting USD cash deposits - accepting purchase-only payments

Whether there is a rule or not, I'm sure that LL is concerned about government oversight.  From time to time the feds and state agencies make noises about regulating online businesses that might be used for money laundering or for hiding illicit cash.  I have no idea why LL stopped letting you make $ deposits directly into your USD balance a couple of years ago, but I do know that many people use the method that Ananoelle discovered.  As I said earlier, that seems more complicated than simply putting money into a PayPal balance from time to time, but it works and I'm sure that LL is aware of it.

Edited by Rolig Loon
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