No more excuses for not being able to buy L - payment by wire!

http://blog.secondlife.com/2008/06/18/payments-by-bank-wire/

No keeping credit card info on file. No automatic monthly access to your account. No more paranoia!

Well, that solves a huge problem.

Not only that; but there are none of those pesky credit card chargebacks when folks don't receive what they paid for.

I've never done a bank wire. I don't even know if my bank does bank wires.

WTF! $25 charge? 5 days to clear? Even for Americans? What's going over there?

Anyone else getting a Jira login box appearing on that blog?

I am getting error messages.

The Second Life blog, and secondlife.com in general, is the least reliable web site I have ever come across.

The $25 charge is not surprising - that is common to wire transactions. But 5 days... hm.

A bank transfer is an ACH transfer. Automated Clearing House. It take 3-5 business days to clear, normally. Most other countries take longer.

Unless LL requires every account to be paid in some way there will be many that do not availe themselves of this. With arguments that the fees are too high or simply that they do not wish to.

There is a group of people for whom part of the fun is trying to get a profitable and legitimate business going without ever spending a dime of RL cash.

I wouldnt call it excuses....personal choice is probably closer to the truth.

(For the record I am paid and have been since day 1 in world. Premium since day 2 )

We do ACH for our $1 million plus payroll each month and it takes less than 24 hours to hit.

With that $25.00 sur charge I would be supprised if anyone used it lol

$25US to transfer money, $100 minimum and 5 days? Thats reduculous are they paying a courier to take the cash from one bank to another physically in a Humvee?
My bank and most Aussie banks allow their customers to log into theiri personal accounts and transfer online to any bank in the world with a BSB number for free, any amount from $1 upwards, and it clears in Australia overnight and usually overseas within 48 hours.
Maybe a lot of the rest of the world is stuck in the 20th century still by the sounds of it.
I thought great maybe some of those people who live in countries where they pay their highspeed internet bills in poultry, potatoes and rice will have no excuse to beg & scheme for money. But unlikely as it suspect this "wire" service still needs a telegraph wire and a guy clicking in morse code at each end. Or perhaps it still sends cash by stage coach?

They've just launched same day transfers in the UK, it was always available if you did a Chaps transfer. which is a clearing house process, that cost money but normal bank transfers don't.

If I pay a bill to another UK company via my bank I don't get charged, that usually takes three working days.

If I pay abroad I get charged around $40.

So I imagine that to pay Lindel Lab USD$100, I'd probably have to pay over USD$165, there would be some currency conversion charges in there too.

I don't even know what payment by wire is!

It's when you send the check to LL by giving it to one of these guys:

I know wire transfer (western union etc), this takes 30 minutes world wide, the reciever doesn't need a bank account and costs about 10 usd for 100 usd transfer.

I also know bank transfer, this takes anything between 1 minute and 24 hours national and 3 days international, national it is free, within european economic space a few cents and beyond a few usd.

25 usd and 5 days sound crazy to me, even the WU transfers are cheaper and definatly faster.

Bank charges come out of the recipient's amount, it's not something you'll have to pay.

Whether it's more than what it actually costs is another matter, but it's normal for them to ask you to deposit more so they don't end up loosing money over it.

Actualy it's selectable, at least in the european banksystem but so far i have not found that it's any different when transfering to a usa bank, we have 3 options for international bank transfers, recipient pays, both split the costs or sender pays.

this is regulated in the IBAN system wich is an extention on the SWIFT or BIC system, all eu banks are able to handle IBAN and SWIFT transfers.

offcourse other regions may not have the choice.

I found some info on wire transfers http://en.wikipedia.org/wiki/Wire_transfer but it's a bit limited.

My credit cards have given me the most financial freedom and security I've ever seen. Considering any means of paying for a product or service. (^_^)

Even when my ID was stolen, I was supported every step of the way and never got charged a dime. Any other way of spending monies is merely a dangerous alternative to me. Pay by wire, with a fee and a delay? No thanks. (=_=)

I don't even really write checks or know what a dollar bill looks like anymore. (^_^)y

I am laughing at us, because if I didn't, I'd have to cry...

OK...everyone complains for ages about not wanting to give LL their CC info, or having CC problems or PayPal problems. We even just had a long thread started by someone who didn't believe in credit cards, complaining there was no way for him to pay...

So...LL implements a new way to pay that gets around all these problems...

And...there's an immediate outcry about how unfair the fee is, how long it takes, etc. etc.

There really is no pleasing us, is there?

(I say "us", because I'm no different. There are plenty of LL decisions and policies that I think are stupid to the max.)

Wire transfer fees in the $20 range are very common. I don't see the particular outrage. It makes sense to have a minimum transfer amount because it would be otherwise unfeasible.

Some people wouldn't be happy unless LL sent a flunkey round to their place to collect the money in coins. For free.

Oooo, if LL did that, they could get the gender verification scheme off the ground at the same time!

Well the fairness of the fee is deemed by local banking policies so to complain about it is unfair, I'm more surprised that payments by Americans are subject to these charges and five day clearance seems a little slow, although maybe they're counting the potential for weekends to be in that figure.

The only time I've had to pay for a bank transfer is when I had to make a same day payment.

Do you get charged for debit card and cheque payments in the States?