Wednesday, March 09, 2016

Lab announces Faster Credit Processing and Changes to Fees



Effective from Tuesday April 5th, Linden Lab has announced Faster Credit Processing (cashing-out), and a change to the way it charges fees for credit processing and purchasing Linden Dollars:

We’re happy to announce that we will significantly improve how quickly we’re able to process a majority of credit requests.

Based on current data, we estimate that the upgrades we’ve made will allow approximately 75% of process credit requests to be completed within 2 business days. 

In addition to taking time, processing credit and paying real money to users’ PayPal and Skrill accounts incurs costs to Linden Lab. Each transaction actually costs us more than the $1 (USD) fee we have been charging. To address that and in light of the significant investments we’ve made to improve the related systems and processes, we will be making some adjustments to the fee structure, beginning next month.

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

For full information about these changes see the Linden Lab blog here


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