Selling lindens to bank

[liko211]

Hi i have recently got some ls and sold about 500$ Evrything was fine but then when i wanted to sell again suddenly from nowhere i got an trading limit of 30 days? Someone said to take away that limit i would have to buy some ls? Im not sure if im getting this right cause im a bit new to selling and trading but, how do i go by this? And if its true can i buy any amount? To take away the limit? Someone explain to me step by step and dont be rude please when i ask you an question.

[Rolig Loon]

The first time you use the LindeX, even if you have been in SL for a very long time, you start with a rather low trading limit.  That's partly to protect you from buying and selling a lot of L$ before you know how SL works, but mostly to protect Linden Lab from people who create quickie throwaway accounts to launder money.  Thirty days after your first trade, your limits will start to rise.  If they are not rising fast enough to satisfy you after that, you mat submit a support case to request  an increase.  Just don't bother asking during that first month.

[Rowan Amore]

I believe this page might explain your limits

https://secondlife.com/my/lindex/sell.php?

[Chic Aeon]

26 minutes ago, liko211 said:

Hi i have recently got some ls and sold about 500$ Evrything was fine but then when i wanted to sell again suddenly from nowhere i got an trading limit of 30 days? Someone said to take away that limit i would have to buy some ls? Im not sure if im getting this right cause im a bit new to selling and trading but, how do i go by this? And if its true can i buy any amount? To take away the limit? Someone explain to me step by step and dont be rude please when i ask you an question.

Along with all that other info you need a LOT of lindens in order to process your credit (old-timers call that "cashing out").  There are fees involved and you need a minimum in order to send money to your bank.

 

You also need to prove who you are with official documents. Not everyone can do that :D.  So best you make sure you are approved to process credit before you get too involved in converting money to US dollars.  If you go to the PROCESS CREDIT page in your webpage account you will likely see something like this -- or perhaps you only see that after you have been here awhile. So many steps to get money out of Second Life. I suggest you read up on it all before going further. 

 

 

Edited February 1, 2021 by Chic Aeon
spelling

[liko211]

6 hours ago, Chic Aeon said:

Along with all that other info you need a LOT of lindens in order to process your credit (old-timers call that "cashing out").  There are fees involved and you need a minimum in order to send money to your bank.

 

You also need to prove who you are with official documents. Not everyone can do that :D.  So best you make sure you are approved to process credit before you get too involved in converting money to US dollars.  If you go to the PROCESS CREDIT page in your webpage account you will likely see something like this -- or perhaps you only see that after you have been here awhile. So many steps to get money out of Second Life. I suggest you read up on it all before going further. 

 

 

Tyvm chic i have done this and now i get this message  what does it mean? And do you have discord?

Edited February 2, 2021 by liko211

[Chic Aeon]

27 minutes ago, liko211 said:

Tyvm chic i have done this and now i get this message  what does it mean? And do you have discord?

Not quite sure as I never buy lindens and definitely not "limited buy".  So apparently you just click the "buy L$ link and it will let you buy now. So progress made it seems. BUT as mentioned by others if you are new you can only buy so much.  If you want to buy more than allowed you will just have to wait. 

Glad you got some things accomplished!

[liko211]

10 minutes ago, Chic Aeon said:

Not quite sure as I never buy lindens and definitely not "limited buy".  So apparently you just click the "buy L$ link and it will let you buy now. So progress made it seems. BUT as mentioned by others if you are new you can only buy so much.  If you want to buy more than allowed you will just have to wait. 

Glad you got some things accomplished!

Yeah im glad but why do i have to wait each time wouldnt a simple call between ll solve that? Im thankful for your help im not trying to buy im trying to sell to get usd

Edited February 2, 2021 by liko211

[Rowan Amore]

42 minutes ago, liko211 said:

Yeah im glad but why do i have to wait each time wouldnt a simple call between ll solve that? Im thankful for your help im not trying to buy im trying to sell to get usd

https://accounts.secondlife.com/lindex/economic_limits?lang=en-US

[liko211]

4 minutes ago, RowanMinx said:

https://accounts.secondlife.com/lindex/economic_limits?lang=en-US

Ty rowan what does this mean? 

[MoiraKathleen]

There are always trading limits of some amount.  The limits for the first 30 days after your first LindEx buy transaction (or perhaps your first LindEx sell transaction) are the smallest limits.  After that initial 30 days they automatically increase to the limits shown in the image you posted above of your Economic Limits.   So, one doesn't suddenly get limits put on them out of the blue.   There are USD limits on the various types of transactions on rolling 24 hour basis, and a rolling 30 day basis. 

I have not ever sold L$'s - I have read the knowledge base articles, so am somewhat familiar with the process in general - but I am a little confused about where you are in that process and where exactly you're running into problems:

Were you able to successfully sell enough L$'s to get 500 USD?    Was that your first transaction with the LindEx (very first time buying or very first time selling)?  How long ago did you do that sell?

When you go to sell page (Manage -> Sell L$)  is that when you "get hit with the limits" that is preventing you from selling additional L$'s?  What exactly does that message about limits say? 

 

 

[liko211]

Or someone that understands what that means ^^^^^^

Edited February 2, 2021 by liko211

[Alwin Alcott]

7 hours ago, liko211 said:

Ty rowan what does this mean? 

thát are the limitsfor buying and selling.

[Alwin Alcott]

9 hours ago, liko211 said:

Tyvm chic i have done this and now i get this message  what does it mean? And do you have discord?

this message is a relic, it's already many years ago they shut down the "add credit" function. In that time you could add USD directly to the USD balance.
Since they closed that it's only possible to add USD by selling L$. Ad when using a limit buy they will take your money in escrow.

Edited February 2, 2021 by Alwin Alcott

[liko211]

7 hours ago, Alwin Alcott said:

this message is a relic, it's already many years ago they shut down the "add credit" function. In that time you could add USD directly to the USD balance.
Since they closed that it's only possible to add USD by selling L$. Ad when using a limit buy they will take your money in escrow.

Can i find you inworld?

[Lindal Kidd]

@liko211, those are your billing and trading limits.  They all show you have used zero of any of your daily or monthly limits.  So you can buy or sell up to $1,999.00 USD worth of Linden Dollars, and you can transfer up to $999.00 USD from your USD Balance to your PayPal account (a "process credit" transaction).

In your first post, you said you'd sold $L500, or about $2 USD. When you sell $L, the proceeds go into your $USD balance. You can use that money to pay any bills from LL, such as land tier or Premium membership dues. If you have more than $10 USD in your balance, you can also do a Process Credit action to transfer some or all of your $USD out of SL entirely and into your PayPal account.

[liko211]

1 hour ago, Lindal Kidd said:

@liko211, those are your billing and trading limits.  They all show you have used zero of any of your daily or monthly limits.  So you can buy or sell up to $1,999.00 USD worth of Linden Dollars, and you can transfer up to $999.00 USD from your USD Balance to your PayPal account (a "process credit" transaction).

In your first post, you said you'd sold $L500, or about $2 USD. When you sell $L, the proceeds go into your $USD balance. You can use that money to pay any bills from LL, such as land tier or Premium membership dues. If you have more than $10 USD in your balance, you can also do a Process Credit action to transfer some or all of your $USD out of SL entirely and into your PayPal account.

okay so in short that means i can sell up to 1999usd but if i do will i be put in another limit again?

[MoiraKathleen]

7 minutes ago, liko211 said:

okay so in short that means i can sell up to 1999usd but if i do will i be put in another limit again?

There will always be limits.  Unless (or until)  you have established a long term pattern which shows you need to have higher limits*, the limits will probably remain buying or selling up to $1,999 USD worth of Linden dollars and being able to transfer up to $999 USD from your USD balance to your PayPal or Skrill account, within a rolling 30 day time period. 

So, do what you can within the limits, and then if you still have linden dollars to sell, wait until 30 days have passed, when you will be able to do another transaction.

*Any further increase in limits doesn't happen automatically, but has to be requested, once you have a demonstrated justification for needing higher limits.

[liko211]

4 minutes ago, MoiraKathleen said:

There will always be limits.  Unless (or until)  you have established a long term pattern which shows you need to have higher limits*, the limits will probably remain buying or selling up to $1,999 USD worth of Linden dollars and being able to transfer up to $999 USD from your USD balance to your PayPal or Skrill account, within a rolling 30 day time period. 

So, do what you can within the limits, and then if you still have linden dollars to sell, wait until 30 days have passed, when you will be able to do another transaction.

*Any further increase in limits doesn't happen automatically, but has to be requested, once you have a demonstrated justification for needing higher limits.

okay so lets say i sell now 1999usd? will i be put in another limit and please do u have discord?

Edited February 2, 2021 by liko211

[MoiraKathleen]

6 minutes ago, liko211 said:

okay so lets say i sell now 1999usd? will i be put in another limit and please do u have discord?

If you sell enough linden dollars to reach the $1999 USD limit today, then you will need to wait 30 days before you will be able to sell more. 

Sorry, no, I don't have discord.  

[LittleMe Jewell]

11 minutes ago, liko211 said:

okay so lets say i sell now 1999usd? will i be put in another limit and please do u have discord?

The limits are on a rolling 24-hour and 30-day period --- and the limits are always there.  

So you can sell $1999 USD in a rolling 30-day period.  If you did it all in one transaction, you would have to wait 30 days before another sell transaction.  If you sell $1000 USD today, then anytime within the next 30 days, you can sell another $999 USD.

 

[Rowan Amore]

28 minutes ago, liko211 said:

okay so lets say i sell now 1999usd? will i be put in another limit and please do u have discord?

Why don't you try calling Billing.  You can use Skype, too.

Billing support phone numbers

    

Toll-Free (US/Canada): 800.294.1067

Long-Distance: 703.286.6277   

 

Our Billing team is available from 9am to 5pm EST(6am to 2pm PST), Monday through Friday.

[liko211]

1 hour ago, RowanMinx said:

Why don't you try calling Billing.  You can use Skype, too.

Billing support phone numbers

    

Toll-Free (US/Canada): 800.294.1067

Long-Distance: 703.286.6277   

 

Our Billing team is available from 9am to 5pm EST(6am to 2pm PST), Monday through Friday.

Thankyou everyone for you replies its greatly appreciated

[liko211]

On 2/2/2021 at 10:48 PM, RowanMinx said:

Why don't you try calling Billing.  You can use Skype, too.

Billing support phone numbers

    

Toll-Free (US/Canada): 800.294.1067

Long-Distance: 703.286.6277   

 

Our Billing team is available from 9am to 5pm EST(6am to 2pm PST), Monday through Friday.

can i dm you instead?

[Rowan Amore]

18 minutes ago, liko211 said:

can i dm you instead?

It would make more sense to talk to billing. No one here works for Linden Lab unless their last name is Linden.

[bigmoe Whitfield]

On 2/4/2021 at 7:19 PM, RowanMinx said:

It would make more sense to talk to billing. No one here works for Linden Lab unless their last name is Linden.

The way it was worded sounded like you was with LL. 

 

On 2/2/2021 at 2:48 PM, RowanMinx said:

Why don't you try calling Billing.  You can use Skype, too.

Billing support phone numbers

    

Toll-Free (US/Canada): 800.294.1067

Long-Distance: 703.286.6277   

 

Our Billing team is available from 9am to 5pm EST(6am to 2pm PST), Monday through Friday.

 

[Rowan Amore]

6 minutes ago, bigmoe Whitfield said:

The way it was worded sounded like you was with LL. 

 

 

Yeah, I realized that too late but she should know already.  She wants to talk to most people who responded inworld or discord. You may be next.  😁