Frequently Asked Questions
HOW DO I CREATE AN ACCOUNT?
Go to any L&L Bank and Trust ATM, click the ATM and wait for it to register. Your account will be created instantly, then simply deposit lindens from there and enjoy the benefits of being a L&LBT customer.
Once you have created your account be sure to log in to the website and create your password from the ATM. Remember to join the L&L Bank and Trust group to make sure you recieve updates and announcements. Sometimes notices may be posted to the groups before the website.
HOW DOES THE INTEREST PAYOUT WORK?
Interest is calculated based on the average daily balance over a 7 day period previous to the payout date. That means that your average balance each day from Monday to Sunday is the amount that interest is calculated from. Payout is Monday at 1:00am SLT weekly.
HOW DOES THE BROKERAGE EXCHANGE WORK?
The Brokerage Exchange is comprised of shares held by L&L Bank and Trust on World Stock Exchange, Ancapistan Exchange, International Stock Exhcange, VSTEX, and SL Capital Exchange. Companies and shares in the trading section are shares that the bank already owns while companies and shares in the share bid section are shares the bank looks to purchase. All shares traded are held by LNLBT Miles on the stock exchange in which the company exists but the brokerage exchange allows investors to hold those shares without taking the risk. The bank presents companies from 5 major exchanges for 1 stop shopping without having to risk losing as we are constantly evaluating our portfolio and will buy back shares as needed. If a company is delisted with assets available, these assets will be paid out to shareholders on the brokerage. If not, shares will be bought back at the closing price of the company on its home stock exchange. Our goal is to alleviate the risk from our customers. Portions of the transaction fees collected will be put into a risk fund for such an occasion.
HOW DOES I BUY AND SELL LINDEN ON THE CURRENCY EXCHANGE?
The currency exchange operates just like the stock exchange. You can buy and sell linden at the market cost or set a specific amount. Buy orders require that you already have USD in your account and you can do so by depositing via Paypal or selling lindens to get a USD balance. Paypal withdraws are currently processed once daily at 9pm EST but will be processed immediately as traffic increases. Periodically, we will process them more frequently.
WHY AM I NOT ABLE TO SEE MY ACCOUNT BALANCE ANYMORE? I HAVE NOT USED MY ACCOUNT IN A LONG WHILE.
Your account may have been moved to the dormant account pool. Accounts without activity in world or on the website for over 50 days are moved into the dormant account pool. Normally, contact is made within 7 days of doing this. The account is held there for another 30 days. After 30 days, LLBT shares are purchased with those funds and held for another 5 months. As long as the account still exists in SL, the account is held for up to 6 months. If the account is no longer in SL, the account is closed indefinitely. This is done to be able to keep an accurate count of active accounts to better serve our customers. Accounts with less than a L$25 balance will not have shares purchased but will be held for the 6 month period. Accounts will balances less than L$1 will be closed.
WHY AM I ONLY ABLE TO DO BANK TRANSACTIONS AND NOT ALLOWED TO TRADE STOCKS OR USE THE CURRENCY EXCHANGE?
Your account has failed the risk check from Linden Labs. In some cases, depending on the account activity seen on the bank website and transaction history, we may also halt the account in order to touch bases with the depositor. This is done to protect the bank from fraudulent depositors and to insure that accounts have not been compromised.
I HAVE A PROBLEM. WHAT DO I DO?
Submit a support ticket and we will respond as soon as possible. This usually happens within 24 hours but may take up to 72 hours. Tickets are usually acknowledged within 24 hours. Please update tickets if you have questions but note that we do not recieve updates on closed tickets.
WHAT IS THE DAILY WITHDRAWAL LIMIT?
Under normal circumstances, the limit is L$50,000 daily and can be adjusted higher by request. As of December 3, 2007, the daily limit is L$25,000 but this amount will go back up to normal over the next 90 days.
*This will be updated as the limit changes.*