Tilia Vs. Buying L's

[Lilyanna Mandrake]

Will this new Tilia System be part of the Buying Lindens process or ONLY for those who take Lindens out of world... And Does everyone have to have a Tilia Account even if they don't take L's out of secondlife?

[Mollymews]

best to read the official Q&A here for the most accurate answers :

 

 

[Lindal Kidd]

Definitely read the official info, as Molly suggests!

However, in brief:

• Tilia is a wholly-owned subsidiary of LL.
• Tilia has been running the financial services of SL for several years already.  You can see their logo on the pages where you buy and sell $L, for example.
• In order to comply with US regulations, LL has had to increase the separation between Tilia and SL.
• This means that yes, everyone will have to create a Tilia account, and accept the Tilia Terms of Service (which are not really very different from the SL ToS).
• The process to buy and sell $L will not change.
• The process to transfer money out of SL won't change either, except that there is now an "account inactivity fee".  If you don't access your $USD balance account (even to check on the balance) for a year, this fee comes into effect.  It looks to me like it's a way for LL to recover money from "dead" accounts.
• You will (probably) not have to give any additional personal information to Tilia, unless you wish to do a "Process Credit" transaction, transferring money from your $USD Balance to PayPal.