Purchasing/Selling Lindens - Limit Order

I think there is a PayPal fee, but I don't remember the percentage. I think it is waived if you you use PayPal's mass payment feature instead, but that takes 2 business days to get your money credited, I think.

Yes, PayPal charges a fee. The Mass Pay fee is just $1.

But I don't think that XStreet charges a fee.

Mass Pay looked a little confusing. How does it work? Can you make a single payment just to yourself, for any amount? Does it really take 2 days to credit to your account?

I make $18US on each round trip, and it only takes a few minutes of my time. On the other hand, I have over $8000US invested to make the trades. Overall I make about 18% annual return on my capital, which is a good return compared to most things. If the spread gets any narrower, it will make nothing at all, in which case my money leaves SL and goes to the stock market

Basically, yes. How it works is like this:

1. You create a little .txt file on your computer, with the entries PayPal wants. Like, email address of recipient, your avatar name, (XStreet needs the av name to get the money into YOUR account there) and dollar amount. I'm not at my home machine, or I'd give you the exact format, but both XStreet and PayPal give instructions.

2. Click the "Make a Mass Payment" button on the PayPal site, and upload your little .txt file.

3. Click the Send button.

Yes, it can take a day or two to clear.

Thanks, Lindal! I will have to give it a try. I just wish it didn't take a day or two to clear, so I would be sure I had done it right!

I do not use the Mass Pay, but simply transfer US$100 at a time into Xstreet to buy L$ and I have never paid a fee on PayPal for putting money into Xstreet -- could be because my account is not a Business account, but not sure. The only Xtreet fee I pay is for the BUY transaction.

And the transfers I make from PayPal to Xstreet are instantaneous.

Does that mean that if you use a credit card instead of PayPal, there is no fee?

I don't know, Kidd. I've never used a card with XStreet.

Looking at some of the info on the XStreet SL site I find the following:

"Limits and holds may be averted by using Mass Pay to make your deposits. Mass Pay is available to Business and Premium PayPal accounts, and upgrading is free. Note: There is a charge for normal payments to your PayPal account. These charges do not apply when sending funds from your Xstreet account to your Business or Premium PayPal account because we use Mass Pay to save you money."

This implies that there MAY be a charge to send money TO your PayPal account. It is not clear if there are fees to add USD to your XStreet account FROM your PayPal account.

Can anyone shed some light on this?

As I mentioned above, I have never had a fee. May PayPal account is set up with my checking account as the primary funds and a credit card as backup. I do instant transfers rather than the mass payment. The money comes from my checking acct into Paypal and on in to Xstreet immediately and I have never paid a fee for it. The full US$100 is available for me to use in Xstreet and that $100 is all that comes out of my checking acct - no extras anywhere.

The one time that I used a credit card, I did it via Paypal and simply switched my funding source from my checking account to my credit card. Showed as a purchase on my credit card. No fees on the Paypal or Xstreet side.

I used a credit card as my PayPal funding source, and there was no fee charged for the transaction to apply USD credit to my XStreet SL account. Did not use "mass payment," just the regular deposit feature.

So where is PayPal making any money on this? Am I missing something?