One US penny!

[Keneke Yakubu]

I never cash out Lindens. I have a balance of one US cent leftover from buying Lindens with a credit card years ago. Am I going to be charged a fee because of one penny?

[Theresa Tennyson]

1 hour ago, Keneke Yakubu said:

I never cash out Lindens. I have a balance of one US cent leftover from buying Lindens with a credit card years ago. Am I going to be charged a fee because of one penny?

If you don't have any interaction with your Linden Dollar balance for a year.

And you don't pay attention to their E-mails.

Then you will pay a fee of...

...one penny.

[Kia Kiyori]

6 hours ago, Keneke Yakubu said:

I never cash out Lindens. I have a balance of one US cent leftover from buying Lindens with a credit card years ago. Am I going to be charged a fee because of one penny?

Yes because....every penny counts. Apparently.

[Selene Gregoire]

2 hours ago, AnyaJurelle said:

Yes because....every penny counts. Apparently.

LL hired lazy bookkeepers/accountants.

[Kia Kiyori]

10 minutes ago, Selene Gregoire said:

LL hired lazy bookkeepers/accountants.

They might have an exception plugged in, like less than xxx$ = no charge. Would seem a bit Scrooge-ish to charge a fee on something like a single cent/penny.

[kali Wylder]

I believe all you have to do is look at your penny once a year in order to keep it.

[Selene Gregoire]

2 hours ago, AnyaJurelle said:

They might have an exception plugged in, like less than xxx$ = no charge. Would seem a bit Scrooge-ish to charge a fee on something like a single cent/penny.

That's not what I had in mind. Carrying small balances over is an expense and not a small one. You have to pay the accountant (they are expensive) or if in house, the employee and if in house, you're also paying worker's comp taxes, (un)employment taxes, payroll taxes, and one or two others I'm not thinking of at the moment. Carrying small balances adds up to a good sized loss over a year's time. Those balances have to be carried forward every month.

[Kia Kiyori]

4 minutes ago, Selene Gregoire said:

That's not what I had in mind. Carrying small balances over is an expense and not a small one. You have to pay the accountant (they are expensive) or if in house, the employee and if in house, you're also paying worker's comp taxes, (un)employment taxes, payroll taxes, and one or two others I'm not thinking of at the moment. Carrying small balances adds up to a good sized loss over a year's time. Those balances have to be carried forward every month.

Yes, I see your point. You'd think big business would make enough profit ripping everyone else off to suck up those small amounts, though. 

[Selene Gregoire]

3 minutes ago, AnyaJurelle said:

Yes, I see your point. You'd think big business would make enough profit ripping everyone else off to suck up those small amounts, though. 

I have the feeling what they are up to on small balances will be to, as you put it, suck up the balance so that the account zeros out and there is no balance to forward. This is where things get sticky. According to LL it isn't real money yet so they can do what they want with it. According to the feds, it is real money. That's one of the things they have to try to do what they call "balancing" on. It's the old CYA. In more ways than one.

[Kia Kiyori]

6 minutes ago, Selene Gregoire said:

I have the feeling what they are up to on small balances will be to, as you put it, suck up the balance so that the account zeros out and there is no balance to forward. This is where things get sticky. According to LL it isn't real money yet so they can do what they want with it. According to the feds, it is real money. That's one of the things they have to try to do what they call "balancing" on. It's the old CYA. In more ways than one.

Yikes. I'd not want to bang heads with the feds

[Selene Gregoire]

6 minutes ago, AnyaJurelle said:

Yikes. I'd not want to bang heads with the feds

Me either. Especially now.

[Lindal Kidd]

15 hours ago, Theresa Tennyson said:

If you don't have any interaction with your Linden Dollar balance for a year.

And you don't pay attention to their E-mails.

Then you will pay a fee of...

...one penny.

Theresa is correct here.

The inactivity fee is the LESSER of a) your account balance, or b) a fee whose actual amount has not yet been disclosed.

I agree with Selene that LL's using it as a way to zero out small "dead" account balances.  Note, the question of whether $L have value or not doesn't apply here...the balances we are talking about are $USD Balances.  But charging a fee is legal; banks do it all the time.

[Erwin Solo]

Tilla is incorporated offshore to implement US Law.  You can't make this stuff up.  In the US, dormant accounts are handled under state law. 

[Richardus Raymaker]

There's one problem with having a penny left. It's stuck, you cannot cash it out and you cannot buy L$ the amount is to low.

[Arduenn Schwartzman]

I'm having a bit of a déjà vu here. That makes TWO US pennies, @Keneke Yakubu!