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Faster credit processing... but higher fees


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Spenser Ames wrote:

I tried to process credit on April 2.  Stll waiting.

 

Three others have been put in.  There are still being processed.

 

Is it just me or was it faster before this?

 

I want my money.  

Have you tried contacting support about this?   That's far too long.   

Are you sure they're not waiting for you to reply to an enquiry about something.   See, for example, this thread..   Check your spam folder (I know Gmail seems to think most emails from LL are spam).   It sounds as if something's gone wrong and they're waiting on a reply from you about something.

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Personally, I think Spenser is confusing selling the lindens with cashing out. It sounds to me like he put in a bid that was too low now, and the money is now sitting there waiting for someone to buy the lindens. Of course, this is never going to happen any time soon, as the bid is too low. If he/she cancels the bid, and then puts 1 in at 250, someone will buy the lindens within minutes.

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I cashed out at April 25, 2016, 6:48 a.m SLT and receceived the money in my UK PayPal account  at April 26, 2016, 10:20 a.m.SLT, so one working day.   

I've had a premium account for years and have been cashing out regularly to the same PayPal account for almost as long, so I guess I must qualify as reasonably well-known to them

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Thought I'd add my experience so far:

Cashed out on April 21, still have not received money to Paypal as of today, April 26 (so, approx. 3.5 business days at this point).

I've been cashing out for the past the past 6 years on a regular, monthly basis - never had to wait longer than the 5 business days, and in the past year, it was usually 4. So, my experience with this new system is not positive - much higher cost to cash out and (as far as I can tell) no change in time to paypal.

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The previous time I cashed out (and the first time under the new arrangements) was on March 7, a Monday, and I didn't receive the funds in my PayPal until March 11, the following Friday.   It was a similar amount.

So maybe the first time under the new system takes longer than the others for some reason?   I hope that they can maintain the faster turn-round time, though I have to say that I'd rather go back to paying $1 and receiving the money 5 days later.    I know I used to complain but the extra speed doesn't seem worth the extra payment.

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Innula Zenovka wrote:

So maybe the first time under the new system takes longer than the others for some reason?  

Yes, I think this is the case. I cashed out again yesterday, and then got the money today. The weekend seems to be the same tho, which is ridiculous. I predict now then, since LL doesn't process these payouts on the weekend, they will have everyone cashing out Monday thru Wednesday, and few people on Thursdays and Fridays.

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Medhue Simoni wrote:


Innula Zenovka wrote:

So maybe the first time under the new system takes longer than the others for some reason?  

Yes, I think this is the case. I cashed out again yesterday, and then got the money today. The weekend seems to be the same tho, which is ridiculous. I predict now then, since LL doesn't process these payouts on the weekend, they will have everyone cashing out Monday thru Wednesday, and few people on Thursdays and Fridays.

As of today, the money to Paypay is still in "processing".  Since this is the first time I've cashed out with the new system, I hope that you Medhue and Innula are right that it's just a "first time" delay.  Otherwise, this appears to be an expensive step backwards rather than improvement in processing.

 

Edited to add: I opened a support ticket asking about the status this morning after I made the post above.  A Linden responded quickly, asking for a little more info.  At 12:24pm PT, I got notification from LL that the money is now in Paypal.

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I too am experiencing a slightly longer wait for my first cashout under the new system. This is my 9th cashout in 2016, so I'm no stranger to them.  I started my process credit at 0525, Monday morning SLT. It's now Thursday coming up on 1725.  I guess I'm among the '25%' who won't make the 2 business day cut

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Same 25% Boat.

I questioned numerous times and asked to speak to a supervisor and they also gave me a "canned" response.

Saying how they could not devuldge why some are considered a RISK and more time is needed to process the credit, while others aren't.

I find it hard to believe that same 25% take same amount of time for them to evaluate the process from people who have been processing cash outs for years.

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KrystalKandy wrote:

I am not sure if anyone has mentioned this to you yet but the faster processing times etc etc did not even go into effect until April 1st. Which would explain the longer wait if you had done this in March. 

I know the higher fees came into effect on April 5th, but the original blog post reads -- at least to me -- as if the quicker processing times were supposed begin at the time of the announcement.

If you re-read the blog post, you'll see that the faster processing and higher charges are presented as two separate (though clearly related) topics.   I may well be mistaken, and there's no way to find out now, I guess, but I'd have thought that, if the two changes were to happen simultaneously, then it would be natural to say that both started on April 5th, rather than separate them into two different topics in the post and be specific about the start date for one and not for the other.

 

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