They give 50L$ when you sign-up but are they for real?
The banking industry of Second Life has been shaky because of what happened to Ginko. Others attempt to be different and some new banks think of new ways to attract new depositors. I think SlamX really wants to be different in attracting depositors for they got a sponsored review.
Still very new
The hardest thing to get new depositors for a bank is when they are still very new. SlamX is new to the industry. The are still in Pre-launching which was announced just a week ago. However, they offer to give advices and are ready to answer questions through their forums. (sign-up first before posting some questions away.)
The bait
SlamX is currently giving free 50L$ when you sign-up. This is what makes them sound too good to be true. Another is, they offer a referral system, where they give you another 50L$ linden dollars for every individual you invite to SlamX. A lot will bite the 50L$ free for signing up but is there a catch? There’s a confusing membership levels. You can only withdraw a limited amount of money per week depending on what level of membership you have. Sign-up and get free 50L$ here.
What makes it confusing is, this memberships are not easily accessible from their site but luckily I found them here.
Membership levels
In order to increase your withdrawal limit, you should have a minimum amount of deposit per level. The levels are bronze, silver, gold and platinum. There are also different privileges and offers that you can get once you reach a certain level of membership. I myself don’t like this membership levels but this is one way of securing that they have enough money to liquidate the withdrawals made. The details on the membership levels and how to get them is on this page.
Withdrawals are given manually
I still haven’t experience making a withdrawal from them (the 50L$ they gave me for signing up) but it seems they will process them manually. I don’t advise this. The manual processing is a turn off. The withdrawal limits are already imposed then you will still have to wait for them to process a withdrawal. They may be excused for being new in the industry but there are no excuses if other people’s money is involved. SlamX should have automated the process already. If they are serious on their banking business, they should improve their system soon.
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At least it is still a free 50 lindens. Just enough to top up my next paypal cashout
Sign up get the 50, leave and never look back. PERIOD!
Hm. Tricky stuff. I think I’ll just stay away from it completely.
Crap, they rejected my withdrawl
I actually checked the site and they say that you have to be an “active member” to actually withdraw. They don’t even really describe what active is, they just send you to the forum. Everything is a little loose in description…
The withdrawal page itself is a little shaky. I almost feel like joining, but… this kind of stuff makes me wary. Maybe if they clean it up and I get past being a month old, I’ll consider it. Maybe.
[...] new bank namely SlamX is currently in its beta or pre-launch stage but after a review from here I think they will now focus on the in-world activity or what I call… transferring the money [...]
[...] Surveys and Referral system, then earn2life’s offers and Affiliate program and the more recent, SlamX referral bonuses that gives 50L$ per invite. The reason why I recommend them is because I got money from them 3 months ago, ranging from 400L$ [...]