Selling L$ and Paypal updates

Hi @ all,

starting the 2nd July Paypal will be an official bank - they received the license. Now, they are spreading mails containing a new set of rules - and fees...

Until now it was quite easy to get L$ out of SL, changing into USD and transferring them via Paypal to Germany. Paypal was changing them into Euros; well the rate is horrible, but hey, they need the money ^^

Now, starting the 2nd July they are going to charge 3.9% for internationally incoming money on Paypay plus a smaller fixed fee. Receiving money was free for private accounts before. Then they will change the currency as before, which sums up to more than 6% of fees for receiving money on paypal in Euros.

Transferring the money via international cheque is also not very attractive - due to the 15 USD fee.

Is there any sensible way of getting L$ out of SL for non US citizens? Until now we can charge our credit cards for buying L$ - but getting money back onto the credit card seems impossible.

Any ideas? Any information if LL might be working on some additional options?
Paypal and cheque being the sole options seems a bit frustrating. Especially if the rates are that high.

Where did you find out about this change? I want to check what changes for me, if Paypal is going to start charging me fees.

It was on an email that Paypal sent a couple of weeks ago and it will affect Paypal members throughout the European Union. However, for some reason Paypal keeps sending me the e-mails in German even if I requested to get all the announcements in English, so I’m not sure how the new policy will work re fees and stuff.

The only thing in English that I found it’s a Q&A that it says that the fee structure will not be changed.

https://www.paypal.com/de/cgi-bin/webscr?cmd=xpt/cps/general/LUXMigrationFAQ-outside

Jabba are you sure that Paypal will change its fees structure? From the above Q&A, they claim that the won’t.

Well, as far as I understand there will be changes... I guess I received exactly the same email you are talking about, Vakis. Although it is in German langage I've put the fees part up on my web for you to read. Here is it:

http://www.annuna.net/8.htm

Money receipt is "Zahlungsempfang" in German - so it seems to cost money from 2nd July?!

Yes, I'd like clarification too. I got that email on May 15th and it links to the Q&A you posted which - as we can see - says that neither protections, fees nor currency exchange rates will change. As I understand it, PayPal Europe Ltd. is based in the UK, and even though it's moving elsewhere within Europe, it's still crossing into a different currency zone (from UK pounds sterling to Eurodollars). Any reason to be concerned about that?

Yes I got the same email with the same fees table. However there are already fees in place when you receive payments but not when you withdraw funds:

https://www.paypal.com/de/cgi-bin/webscr?cmd=_display-fees

Does on that email say that the feels will change? Tried to translate it with babelfish but as usual, the translation didn't make any sense.

This might be the point... How is getting money from LL being handled by Paypal?

Is it "receiving money" or "withdrawing funds".

Well, obviously the account at LL where I get the money from is mine, so it might be withdrawing funds?! Hm... On the other hand I cannot imagine...

Totally confused... ^^

I guess that, since there are already Paypal transaction fees on our current accounts, and since Paypal states that the fees structure will not change, any transactions that we will have now with LL or our bank through Paypal will remain unaffected. Or we have to wait until 2 July and see.