Second Life: Fast Money

It is splashing across the Second Life™ blogosphere that the Lab published an announcement: Faster Credit Processing & Upcoming Changes to Fees. The Lindens think 75% of the SL users taking money out will be able to do so in 2 days, working days.

I Forget Which Side I'm On

I Forget Which Side I’m On

Fees are going up. You can read the announcement to see why, but the info is:

As of April 5, 2016, instead of charging a flat fee of $1 (USD) per transaction, we will charge a fee of 1.5% of the transaction value, with a minimum fee of $3 (USD) and a maximum of $15 (USD). Additionally, the fee for purchasing L$ on the LindeX will increase 10¢, from $0.30 (USD) to $0.40 (USD) per transaction.

This is a good thing for most of us. But, see this thread: Anyone received this email from LL?

5 thoughts on “Second Life: Fast Money

  1. I’m not sure I regard it as “a good thing for most of us.”

    I regularly cash out and certainly, had LL offered a 2-tier service, whereby people could opt to pay between $3 and $15 to receive their money in 2 working days, or continue to pay a flat $1, regardless of the amount, and receive their money in 5 working days, I’d normally opt for the cheaper, slower, service, unless I was in the throes of a dire financial emergency.

      • While true, it was my understanding that they were covering the general cost of running a business in other ways. They seem pretty insistent that SL is doing fine. As someone who doesn’t ever cash out their lindens all I really see is an increased price to buying lindens. And for those with good money management that could wait a couple weeks to get their money, they just have larger fees on payouts with no real benefit.

        All this appears to do is make it possible for those with poor money management, or those struck by emergencies, to *potentially* cash out within a couple business days. Really really does not seem worth the significant increase in price to all payouts. To me. But it’s possible there’s something else I’m missing.

        • That is decent reasoning. I suggest you read Ciaran’s take on why the increase.

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