Second Life Forums Archive - Foreign currency conversion fee?

Max Pitre

Registered User

Join date: 19 Jul 2006

Posts: 370

04-11-2008 05:59

We live in California yet we are charged a foreign currency conversion fee because our tier fee is processed in the UK?
Anyone else get charged this or is it another LL glitch?

Kitty Barnett

Registered User

Join date: 10 May 2006

Posts: 5,586

04-11-2008 06:01

From: someone

We have received several inquiries from residents regarding foreign transaction fees related to Linden Lab/Second Life that appear on their card statements. These fees are not originated by Linden Lab/Second Life, and we do not receive these fees. The fee is imposed by the resident’s bank, and can best be likened to an ATM fee. The amount of the fee varies from bank to bank, if it is imposed at all. It is impossible for us to know which banks and account types will incur this fee. Like a long-distance plan, the amount of the fee, if there is one at all, is very likely to be dependent on the type of account you have with your card issuer or bank. Sadly, we have as much ability to influence or control this fee as we do what your ISP charges for your broadband connection.

http://blog.secondlife.com/2007/06/01/foreign-transaction-fees/

FD Spark

Prim & Texture Doodler

Join date: 30 Oct 2006

Posts: 4,697

04-11-2008 06:15

It started while back ago when they outsourced their billing department.
My bank said its coming from their billing department and the bank just required to pay it.
So it sort sounds like someone is passing the buck or lying.

_____________________

Look for my alt Dagon Xanith on Youtube.com

Newest video is

Loneliness by Duo Zikr DX's Alts & SL Art Death of Avatar

Max Pitre

Registered User

Join date: 19 Jul 2006

Posts: 370

04-11-2008 07:50

From: FD Spark

It started while back ago when they outsourced their billing department.
My bank said its coming from their billing department and the bank just required to pay it.
So it sort sounds like someone is passing the buck or lying.

The bank says it's from LL and originating in the UK, it's not something the bank imposed. The blog is from June of last year and this is the first time this has happened yet the tier has been the same since then.

Kitty Barnett

Registered User

Join date: 10 May 2006

Posts: 5,586

04-11-2008 08:10

Visa/Mastercard charge a 1% currency conversion fee, your bank can either eat that cost, pass it on to you, or get in on it by adding its own fee on top and then it can either hide it by including it in the exchange rate or listing it separately.

Regardless of how you turn it, it's your bank that's getting the money and has nothing to do with LL.

Brenda Connolly

Un United Avatar

Join date: 10 Jan 2007

Posts: 25,000

04-11-2008 08:27

From: Max Pitre

The bank says it's from LL and originating in the UK, it's not something the bank imposed. The blog is from June of last year and this is the first time this has happened yet the tier has been the same since then.

It could be from the UK bank LL uses in the UK. A currency conversion fee doesn't have to only go one way does it?. When this started happening last year, as usual it was going on for a while before LL admitted to it or explained it. It is wildly inconsistent, I've never been hit with it for example.. I wonder if it may even be dependant on what type of account you are using, say a real credit card as opposed to a debit card or a direct link to a bank account or PayPal.

_____________________

Don't you ever try to look behind my eyes. You don't want to know what they have seen.

http://brenda-connolly.blogspot.com

Ann Launay

Neko-licious™

Join date: 8 Aug 2006

Posts: 7,893

04-11-2008 08:43

I was charged for it a few times when LL jacked up my PayPal last year and I had to put a credit card on instead. They gave me the same explanation but I never checked with the card company, just switched to a different one and it stopped. The one I was charged for was Mastercard and the other was Visa, but I don't know if that has anything to do with it.

_____________________

~Now Trout Re-Re-Re-Certified!~

From: someone

I am bumping you to an 8.5 on the Official Trout Measuring Instrument of Sluttiness. You are an enigma - on the one hand a sweet, gentle, intelligent woman who we would like to wrap up in our arms and protect, and on the other, a temptress to whom we would like to do all sorts of unmentionable things.

Congratulations and shame on you! You are a bit of a slut.

Dagmar Heideman

Bokko Dancer

Join date: 2 Feb 2007

Posts: 989

04-11-2008 12:39

It's a fee certain banks have to pay to process payment to LL's bank. It's a direct result of LL changing it's depository account to a UK bank last year so it's a LL distortion to say that they have no control over it. LL created the situation but of course it is not going to absorb the cost. Just more of the usual LL chicanery that goes hand in hand with it promoting SL by telling people they can "own" land in its promos.

Ciaran Laval

Mostly Harmless

Join date: 11 Mar 2007

Posts: 7,951

04-11-2008 13:54

From: Max Pitre

The bank says it's from LL and originating in the UK, it's not something the bank imposed. The blog is from June of last year and this is the first time this has happened yet the tier has been the same since then.

When this issue was first raised some people here who are US based said that their banks didn't charge them the fee. Maybe they bank with the same bank as LL or something.

Max Pitre

Registered User

Join date: 19 Jul 2006

Posts: 370

04-11-2008 13:54

From: Dagmar Heideman

It's a fee certain banks have to pay to process payment to LL's bank. It's a direct result of LL changing it's depository account to a UK bank last year so it's a LL distortion to say that they have no control over it. LL created the situation but of course it is not going to absorb the cost.

LL uses a bank in the UK instead of the states? Why isn't everyone being charged this? Does anyone know if there is any other documentation on this, or the TOS, telling us that there will be extra charges?

From: Ciaran Laval

When this issue was first raised some people here who are US based said that their banks didn't charge them the fee. Maybe they bank with the same bank as LL or something.

This is the first time we have seen this charge, why would it start now after a year of being at this tier and after almost two years being in SL? The card used is the same one we have always used.

Time to call billing I guess.

Ann Launay

Neko-licious™

Join date: 8 Aug 2006

Posts: 7,893

04-11-2008 14:08

From: Max Pitre

LL uses a bank in the UK instead of the states? Why isn't everyone being charged this? Does anyone know if there is any other documentation on this, or the TOS, telling us that there will be extra charges?

LL claims not to be the ones charging the fee, so it's not in the TOS or KB.

From: someone

This is the first time we have seen this charge, why would it start now after a year of being at this tier and after almost two years being in SL? The card used is the same one we have always used.

Time to call billing I guess.

I can almost guarantee they'll tell you to contact the bank backing your card.

_____________________

~Now Trout Re-Re-Re-Certified!~

From: someone

I am bumping you to an 8.5 on the Official Trout Measuring Instrument of Sluttiness. You are an enigma - on the one hand a sweet, gentle, intelligent woman who we would like to wrap up in our arms and protect, and on the other, a temptress to whom we would like to do all sorts of unmentionable things.

Congratulations and shame on you! You are a bit of a slut.

Kitty Barnett

Registered User

Join date: 10 May 2006

Posts: 5,586

04-11-2008 14:14

From: Max Pitre

This is the first time we have seen this charge, why would it start now after a year of being at this tier and after almost two years being in SL? The card used is the same one we have always used.

Maybe because your bank recently decided to start charging a fee for it?

You can complain to LL all you want, it won't change the fact that your bank is the one who's responsible for that charge.

Max Pitre

Registered User

Join date: 19 Jul 2006

Posts: 370

04-11-2008 15:57

From: Kitty Barnett

Maybe because your bank recently decided to start charging a fee for it?

You can complain to LL all you want, it won't change the fact that your bank is the one who's responsible for that charge.

No, the bank states that the charge is from LL in the UK.

Ciaran Laval

Mostly Harmless

Join date: 11 Mar 2007

Posts: 7,951

04-11-2008 15:59

From: Max Pitre

No, the bank states that the charge is from LL in the UK.

The bank are the people charging you the fee. LL do not charge fees for transactions like that. I get charged a currency conversion charge whenever I buy L$ because it's in US dollars, LL are not charging me that fee, my bank are. Your bank have changed policy.

Max Pitre

Registered User

Join date: 19 Jul 2006

Posts: 370

04-11-2008 17:53

From: Ciaran Laval

The bank are the people charging you the fee. LL do not charge fees for transactions like that. I get charged a currency conversion charge whenever I buy L$ because it's in US dollars, LL are not charging me that fee, my bank are. Your bank have changed policy.

Ummmm....we are in the US with a US bank so why are we charged for a transaction in the UK from a US company?

Butch Adzebills

Bold, yet beautiful

Join date: 21 Oct 2006

Posts: 269

04-11-2008 18:20

The fact that the bank's located in the UK is the reason. Almost every bank transaction has some sort of fee involved, although they may just lump them all together and you'd never know the individual details. My current bank shows all details, my previous bank only showed "foreign exchange transaction".

You've probably been paying the fee all along, it's just now being listed separately.

I currently pay US$ to a US company, from an Australian bank account, and my statement shows a UK pounds (can't find the symbol) transaction. I still don't understand the logic.

Foreign currency conversion fee?
Max Pitre Registered User Join date: 19 Jul 2006 Posts: 370	04-11-2008 05:59 We live in California yet we are charged a foreign currency conversion fee because our tier fee is processed in the UK? Anyone else get charged this or is it another LL glitch?
Kitty Barnett Registered User Join date: 10 May 2006 Posts: 5,586	04-11-2008 06:01 From: someone We have received several inquiries from residents regarding foreign transaction fees related to Linden Lab/Second Life that appear on their card statements. These fees are not originated by Linden Lab/Second Life, and we do not receive these fees. The fee is imposed by the resident’s bank, and can best be likened to an ATM fee. The amount of the fee varies from bank to bank, if it is imposed at all. It is impossible for us to know which banks and account types will incur this fee. Like a long-distance plan, the amount of the fee, if there is one at all, is very likely to be dependent on the type of account you have with your card issuer or bank. Sadly, we have as much ability to influence or control this fee as we do what your ISP charges for your broadband connection. http://blog.secondlife.com/2007/06/01/foreign-transaction-fees/
FD Spark Prim & Texture Doodler Join date: 30 Oct 2006 Posts: 4,697	04-11-2008 06:15 It started while back ago when they outsourced their billing department. My bank said its coming from their billing department and the bank just required to pay it. So it sort sounds like someone is passing the buck or lying. _____________________ Look for my alt Dagon Xanith on Youtube.com Newest video is Loneliness by Duo Zikr DX's Alts & SL Art Death of Avatar
Max Pitre Registered User Join date: 19 Jul 2006 Posts: 370	04-11-2008 07:50 From: FD Spark It started while back ago when they outsourced their billing department. My bank said its coming from their billing department and the bank just required to pay it. So it sort sounds like someone is passing the buck or lying. The bank says it's from LL and originating in the UK, it's not something the bank imposed. The blog is from June of last year and this is the first time this has happened yet the tier has been the same since then.
Kitty Barnett Registered User Join date: 10 May 2006 Posts: 5,586	04-11-2008 08:10 Visa/Mastercard charge a 1% currency conversion fee, your bank can either eat that cost, pass it on to you, or get in on it by adding its own fee on top and then it can either hide it by including it in the exchange rate or listing it separately. Regardless of how you turn it, it's your bank that's getting the money and has nothing to do with LL.
Brenda Connolly Un United Avatar Join date: 10 Jan 2007 Posts: 25,000	04-11-2008 08:27 From: Max Pitre The bank says it's from LL and originating in the UK, it's not something the bank imposed. The blog is from June of last year and this is the first time this has happened yet the tier has been the same since then. It could be from the UK bank LL uses in the UK. A currency conversion fee doesn't have to only go one way does it?. When this started happening last year, as usual it was going on for a while before LL admitted to it or explained it. It is wildly inconsistent, I've never been hit with it for example.. I wonder if it may even be dependant on what type of account you are using, say a real credit card as opposed to a debit card or a direct link to a bank account or PayPal. _____________________ Don't you ever try to look behind my eyes. You don't want to know what they have seen. http://brenda-connolly.blogspot.com
Ann Launay Neko-licious™ Join date: 8 Aug 2006 Posts: 7,893	04-11-2008 08:43 I was charged for it a few times when LL jacked up my PayPal last year and I had to put a credit card on instead. They gave me the same explanation but I never checked with the card company, just switched to a different one and it stopped. The one I was charged for was Mastercard and the other was Visa, but I don't know if that has anything to do with it. _____________________ ~Now Trout Re-Re-Re-Certified!~ From: someone I am bumping you to an 8.5 on the Official Trout Measuring Instrument of Sluttiness. You are an enigma - on the one hand a sweet, gentle, intelligent woman who we would like to wrap up in our arms and protect, and on the other, a temptress to whom we would like to do all sorts of unmentionable things. Congratulations and shame on you! You are a bit of a slut.
Dagmar Heideman Bokko Dancer Join date: 2 Feb 2007 Posts: 989	04-11-2008 12:39 It's a fee certain banks have to pay to process payment to LL's bank. It's a direct result of LL changing it's depository account to a UK bank last year so it's a LL distortion to say that they have no control over it. LL created the situation but of course it is not going to absorb the cost. Just more of the usual LL chicanery that goes hand in hand with it promoting SL by telling people they can "own" land in its promos.
Ciaran Laval Mostly Harmless Join date: 11 Mar 2007 Posts: 7,951	04-11-2008 13:54 From: Max Pitre The bank says it's from LL and originating in the UK, it's not something the bank imposed. The blog is from June of last year and this is the first time this has happened yet the tier has been the same since then. When this issue was first raised some people here who are US based said that their banks didn't charge them the fee. Maybe they bank with the same bank as LL or something.
Max Pitre Registered User Join date: 19 Jul 2006 Posts: 370	04-11-2008 13:54 From: Dagmar Heideman It's a fee certain banks have to pay to process payment to LL's bank. It's a direct result of LL changing it's depository account to a UK bank last year so it's a LL distortion to say that they have no control over it. LL created the situation but of course it is not going to absorb the cost. LL uses a bank in the UK instead of the states? Why isn't everyone being charged this? Does anyone know if there is any other documentation on this, or the TOS, telling us that there will be extra charges? From: Ciaran Laval When this issue was first raised some people here who are US based said that their banks didn't charge them the fee. Maybe they bank with the same bank as LL or something. This is the first time we have seen this charge, why would it start now after a year of being at this tier and after almost two years being in SL? The card used is the same one we have always used. Time to call billing I guess.
Ann Launay Neko-licious™ Join date: 8 Aug 2006 Posts: 7,893	04-11-2008 14:08 From: Max Pitre LL uses a bank in the UK instead of the states? Why isn't everyone being charged this? Does anyone know if there is any other documentation on this, or the TOS, telling us that there will be extra charges? LL claims not to be the ones charging the fee, so it's not in the TOS or KB. From: someone This is the first time we have seen this charge, why would it start now after a year of being at this tier and after almost two years being in SL? The card used is the same one we have always used. Time to call billing I guess. I can almost guarantee they'll tell you to contact the bank backing your card. _____________________ ~Now Trout Re-Re-Re-Certified!~ From: someone I am bumping you to an 8.5 on the Official Trout Measuring Instrument of Sluttiness. You are an enigma - on the one hand a sweet, gentle, intelligent woman who we would like to wrap up in our arms and protect, and on the other, a temptress to whom we would like to do all sorts of unmentionable things. Congratulations and shame on you! You are a bit of a slut.
Kitty Barnett Registered User Join date: 10 May 2006 Posts: 5,586	04-11-2008 14:14 From: Max Pitre This is the first time we have seen this charge, why would it start now after a year of being at this tier and after almost two years being in SL? The card used is the same one we have always used. Maybe because your bank recently decided to start charging a fee for it? You can complain to LL all you want, it won't change the fact that your bank is the one who's responsible for that charge.
Max Pitre Registered User Join date: 19 Jul 2006 Posts: 370	04-11-2008 15:57 From: Kitty Barnett Maybe because your bank recently decided to start charging a fee for it? You can complain to LL all you want, it won't change the fact that your bank is the one who's responsible for that charge. No, the bank states that the charge is from LL in the UK.
Ciaran Laval Mostly Harmless Join date: 11 Mar 2007 Posts: 7,951	04-11-2008 15:59 From: Max Pitre No, the bank states that the charge is from LL in the UK. The bank are the people charging you the fee. LL do not charge fees for transactions like that. I get charged a currency conversion charge whenever I buy L$ because it's in US dollars, LL are not charging me that fee, my bank are. Your bank have changed policy.
Max Pitre Registered User Join date: 19 Jul 2006 Posts: 370	04-11-2008 17:53 From: Ciaran Laval The bank are the people charging you the fee. LL do not charge fees for transactions like that. I get charged a currency conversion charge whenever I buy L$ because it's in US dollars, LL are not charging me that fee, my bank are. Your bank have changed policy. Ummmm....we are in the US with a US bank so why are we charged for a transaction in the UK from a US company?
Butch Adzebills Bold, yet beautiful Join date: 21 Oct 2006 Posts: 269	04-11-2008 18:20 The fact that the bank's located in the UK is the reason. Almost every bank transaction has some sort of fee involved, although they may just lump them all together and you'd never know the individual details. My current bank shows all details, my previous bank only showed "foreign exchange transaction". You've probably been paying the fee all along, it's just now being listed separately. I currently pay US$ to a US company, from an Australian bank account, and my statement shows a UK pounds (can't find the symbol) transaction. I still don't understand the logic.

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Foreign currency conversion fee?