Selling L$ and getting Tilia before Aug.1st?

[Esmeraldazs]

Hello I have tried to sell Linden I have confirmed I get to the page where it says "amount will go towards Tilia Account" I thought that wasnt happening until August.1st or am I wrong?

This is the first time I have tried to sell Lindens so I dont know what to do in over 10 years in Second Life so have no idea what to do.

[Lindal Kidd]

Tilia has actually been handling SL's financial transactions for about 5 years now.  It's just becoming more visible now as LL increases the legal separation between SL and Tilia for legal and business reasons.

If you sell $L, the proceeds go into your $USD Balance.  They're just calling it your "Tilia Account" now.

[Esmeraldazs]

2 hours ago, Lindal Kidd said:

Tilia has actually been handling SL's financial transactions for about 5 years now.  It's just becoming more visible now as LL increases the legal separation between SL and Tilia for legal and business reasons.

If you sell $L, the proceeds go into your $USD Balance.  They're just calling it your "Tilia Account" now.

Okay I guess my concern is I want to Sell L$ one time tonight or tomorrow before August.1st when the change is offically supposed to happen

Will I be asked for my ID or anything of that nature to try to sell now? and

Will I be charged an Inacitivy fee or whatever there calling it if you don't see lindens or whatever every so often for selling only once before August.1st?

I have never once sold anything since 2007 so I gurantee it most likly would never happen again.

Also How long does it take from Selling L$ to get the money? I have a card on file no PayPal information as far as my payment information goes but I do have PayPal to be able to change that.

 

Edited July 27, 2019 by Esmeraldazs

[Chic Aeon]

7 minutes ago, Esmeraldazs said:

Okay I guess my concern is I want to Sell L$ one time tonight or tomorrow before August.1st when the change is offically supposed to happen

Currently it appears that "everyone"(including new made test accounts) has an OK to process credit.  This obviously can't really be correct (I mean a brand new account can process credit?  So while you may be able to complete a transaction, it is certainly possible that it won't be finalized. Seems like waiting until Monday (or when they let us know they fixed this) will be good. This issue was reported this afternoon. 

 

If you leave NO money in your USD account (so sending it all to Paypal you will not have an inactivity fee.  

 

If you haven't taken money out of SL in twelve years there could easily be an issue --- I don't know that but it seems likely. That is a long time. 

 

You MUST have Paypal listed in order to send money TO Paypal. It is possible that it also needs to be a verified account. Mine is and I have seen comments about verification being needed and that takes a little bit of time still I think. 

 

Typically payments have been arriving at Paypal in just a few days (like two or three for me) BUT since last Monday we have seen no reports of money making it out to Paypal.  I transferred money out on Saturday and it arrived at Paypal on Monday which was really fast, but that seems to have stopped. People are thinking (no info from LL) that maybe payments won't clear to Paypal until August 1.  I have no idea if that is correct. 

 

If you are JUST trying to get your USD balance to zero so that you will not have to accept the Tilia TOS, it is easiest just to buy some lindens. They take the money from your USD account FIRST and then charge your credit card.

 

 

7 minutes ago, Esmeraldazs said:

Will I be asked for my ID or anything of that nature to try to sell now? and

Will I be charged an Inacitivy fee or whatever there calling it if you don't see lindens or whatever every so often for selling only once before August.1st?

I have never once sold anything since 2007 so I gurantee it most likly would never happen again.

Also How long does it take from Selling L$ to get the money? I have a card on file no PayPal information as far as my payment information goes but I do have PayPal to be able to change that.

 

 

[Esmeraldazs]

11 minutes ago, Chic Aeon said:

Currently it appears that "everyone"(including new made test accounts) has an OK to process credit.  This obviously can't really be correct (I mean a brand new account can process credit?  So while you may be able to complete a transaction, it is certainly possible that it won't be finalized. Seems like waiting until Monday (or when they let us know they fixed this) will be good. This issue was reported this afternoon. 

 

If you leave NO money in your USD account (so sending it all to Paypal you will not have an inactivity fee.  

 

If you haven't taken money out of SL in twelve years there could easily be an issue --- I don't know that but it seems likely. That is a long time. 

 

You MUST have Paypal listed in order to send money TO Paypal. It is possible that it also needs to be a verified account. Mine is and I have seen comments about verification being needed and that takes a little bit of time still I think. 

 

Typically payments have been arriving at Paypal in just a few days (like two or three for me) BUT since last Monday we have seen no reports of money making it out to Paypal.  I transferred money out on Saturday and it arrived at Paypal on Monday which was really fast, but that seems to have stopped. People are thinking (no info from LL) that maybe payments won't clear to Paypal until August 1.  I have no idea if that is correct. 

 

If you are JUST trying to get your USD balance to zero so that you will not have to accept the Tilia TOS, it is easiest just to buy some lindens. They take the money from your USD account FIRST and then charge your credit card.

 

 

 

Wow okay this seems complaicated I will wait until Monday to see if someone from LL or anything higher up pops up on this forum or the Tilia one

Cause even reading that forum it has me confused even more I don't understand why after 10+ years there doing this now it makes no sense there saying it's to keep up to the stature of the law but frankly i think thats just what they want us to think

Like think back to when SL first come out what 2005 or 2006

There tryin to tell us you didn't have to show ID to open a bank account or rent a vechile, or all there claming thats changed with laws? I know for 10000000% fact I had to show ID open my first bank account in 1999 so yeah something is fishy around Linden Labs and there just trying to cover themeself's I might be in Canada but there is no way USA Citizen's were not showing ID's to open bank accounts around that time too.

Edited July 27, 2019 by Esmeraldazs

[Grumpity Linden]

12 hours ago, Esmeraldazs said:

Hello I have tried to sell Linden I have confirmed I get to the page where it says "amount will go towards Tilia Account" I thought that wasnt happening until August.1st or am I wrong?

This is the first time I have tried to sell Lindens so I dont know what to do in over 10 years in Second Life so have no idea what to do.

Hi Esmeraldazs, 

You're seeing the Tilia Account labeling in preparation for the official launch on Aug 1.  You will not need to accept the Tilia Terms of Service or verify your ID until then.  However, if you have a USD balance on Aug 1, you will need to accept the Tilia Terms of Service to access your account.  You will only need to verify your ID information if you decide to process credit.  If you're going to be using your USD balance to pay for Second Life services, you will not need to provide further ID information. 

[Lindal Kidd]

One of the reasons that you have to provide identifying information to move money out of Second Life:  USA tax laws.  Money you take out of SL may be "income" and subject to income tax.