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Post by grooveduke on Mar 2, 2010 18:39:11 GMT
It doesn't have to be the exact account that you bought the parts from. It seems to work by taking the number of gift parts you received from the number of gift parts you bought and then letting you refund up to that number of gift parts. At least that's how it looks to me.
Find the account with the most gift parts bought and send gift parts there. It won't hurt my feelings if you use the groove duke project to do that, but you can use any open project. Then accept the parts from that account. Then sell them so that you have a balance. Then refund that balance.
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fabian
Sellaband addict in waiting
Posts: 8
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Post by fabian on Mar 3, 2010 9:39:25 GMT
Did anyone, who requested a payout, receive the money on his Paypal account yet?
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jayne
Sellaband addict in waiting
Posts: 11
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Post by jayne on Mar 3, 2010 14:18:42 GMT
not yet, but the email said 5-7 working days...
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Utterly B Groovy
Somewhat Sellaband addicted
He Moves And He Grooves But He Don't Got Hooves
Posts: 468
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Post by Utterly B Groovy on Mar 3, 2010 14:36:17 GMT
I made a payout request on Sun 28th at about 4pm (GMT) and I'll let you know when the money arrives.
UBG
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Post by esthameian on Mar 3, 2010 17:58:32 GMT
(repeated from Q&As - T&Cs) So now we have passed close of business in the UK as well as in Europe on Decision-Day would the experts or 'leading lights' (Li & Lu especially) be in a position to summarise where they feel we currently stand, please? Maybe with guidelines as to how to make our decision, since nSAB does not seem to have come up with any answers to the most important questions particularly vis a vis the inability of those unwilling to agree to gain access to either information or their money in escrow.
It is not long now until the deadline beyond which we who have not pressed either button are deemed to have pressed the 'agree' one anyway and of course even the actual date of that deadline is unclear!
I have several people who also need this advice through me. They have mostly not had the time to be able to access these forums and read all the posts so are hanging on an answer from me. Some I contacted did not even know of the bankruptcy as they have lost interest in keeping minute by minute contact with their artists or believers over recent months. I expect many others on here are in a similar position.
Many thanks to all those who have taken the trouble to air their views on here to educate those of us unfamiliar with the world of business!
Dave
PS: I can ill afford to lose this money if it is not going to help out my friends the artists in whom I believed and my artist and believer friends are in a similar position if this is any guidance as to my feelings!!!
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Post by Lucretia on Mar 3, 2010 23:58:45 GMT
OK my basic reasoning for the decision I've just made is as follows.
At the end of the day the decision you are being asked to click on is not only to agree to the new terms and conditions, but also to state that you approve of the handover. For me it's also therefore been important to consider the fact I'm not just looking at money in artists who haven't reached budget yet, I also have artists who have albums etc. out or are recording. It's unclear whether disagreeing also means you are effectively disagreeing with the handover and what status you would therefore have re: things done before the bankruptcy (Li is more likely to have asked the question of her legal chums what the results of disagreeing with the handover of the company would have)
It's completely unclear what happens with the Disagree button except that you appear to lock yourself out from the site completely (according to what others seem to be saying), whereas to accept allows you to (seemingly) withdraw the money without a problem (remember we have no confirmed stories of money actually appearing in Paypal accounts yet) and keep tabs on what is happening with the site.
Given the fact we've also had John C Fraser hit target under the new conditions, the question arises as to what would happen if you hit disagree now if (like me) you have parts in him.
My thinking is therefore that if you have no valid recording artists (e.g. Nemesea's 2 years were up before this started so only any LE to worry about there) you might be OK to click the disagree button and still see the money. However I don't feel there is anything to lose and probably more to gain at the moment by clicking agree, immediately removing your parts and requesting payout of those existing funds. You've then got as long as you like to decide whether you're going to buy parts in any artist in future, but you've obviously protected your money for now. The one exception to this rule is obviously if you have an artist who looks like they're going to hit target shortly where if you still want the music you might as well leave the parts - but at the moment I'd say that's only Aryn moving fast enough to count.
Further monies then arriving in your account will be revenues which (if we believe the T&C) can be paid out to Paypal or even used to buy a part in artists. And of course you can also decide to terminate the account at a later date in this case anyway. The fact you still have access to the site gives you access to how things change over the coming months e.g. by reading the forum and can allow you to make any further decision at your leisure - remember even new users signing up to Sellaband only need to accept the T&C - they don't actually have to spend any money!
So that's precisely what I've done. I consider the "sleeper" option the one which gives the most flexibility to move forwards given the limited information and time we have available. i.e. I'm keeping the account but taking the existing money out. I'm only seeing promises that things will improve in a few weeks, but no concrete evidence of how the new owners plan to move forward to make sure things do improve. So given past history, I think you'd have to be very brave to leave more than a few parts worth of loose cash in the system at this time. Better to start afresh yourself.
In my case my decision is made even easier by the fact the 2 artists I hold the most parts in (of those who haven't reached target) already decided to leave, along with several of the others. Some have already told me of plans to raise money elsewhere/on their own and it's therefore highly likely the money I'll be reclaiming from their projects here will go to supporting them directly. I've never been a fan of middlemen unless I think they have something to offer anyway.
And of course if you really don't like the new T&C that much, the obvious advice is to wait for the money to come back first, then ask for your account to be closed.
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li
Sellaband addict in waiting
Posts: 35
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Post by li on Mar 4, 2010 0:32:40 GMT
@lu: you answered here, I answered in the other Thread :-) Totally Agree with your reasoning.
Accepting the new T&Cs has nothing to do with agreeing to the handover, it is simply a contract with a new party. If it would have been, it would have been part of a preamble or separate document to accept.
This is exactly the reason why my "legal chums" and I know that forcing to accept the T&Cs as a condition to gain access to your Profile and "Assets" is illegal. The Curator (Trustee) closed the bankruptcy within a day, without giving creditors (a.o. the believers and the 50K artists) the chance to file their claims. Which can only mean that the new company took over all the creditors, meaning they have to honour all their "Assets".
But this is not clear from the new T&Cs.
Accepting the T&Cs simply means that they will apply to everything you do after the 2 weeks from Thursday the 25th of February 2010. You can get all floating money out of escrow within these 2 weeks and according to what the new CEO has said in writing and what Franz has answered on this forum, your LeCDs are still yours.
if, however, you can close your account when you've still got LeCDs stocked at SAB, I'm not sure. Or maybe you can close it but then the LeCDs stocked for you should be returned to you as well, and this we have no answer to yet.
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Post by esthameian on Mar 4, 2010 1:38:33 GMT
Thank you both Lu & Li for summing up the situation to date and obviously to those others who have personal knowledge of the individuals involved and have passed on their knowledge and opinions. It has made it much clearer for me and for those I need to explain the situation to.
Many thanks/Dave
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berry71
Sellaband addict in waiting
Posts: 21
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Post by berry71 on Mar 4, 2010 21:03:24 GMT
Lucretia, your reasoning makes sense. It would have surprised me if you had decided something else ;-)
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Post by esthameian on Mar 5, 2010 22:24:43 GMT
I hit my 'Payout' button at 00:23 this morning and pressed the 'Prt Scr' to capture the green acknowledgement bar but it hadn't lasted long enough so didn't appear in the screen dump. As there had been no visible change anywhere, I went through the whole payout procedure again and this time my fingers were like greased lightning and I now have a record for posterity but what I'd like to know is:
How long have others found it to be before they see any visible sign of movement of their money? I assume the first sign would be the SAB balance reducing?
@ UBG: Any glimmers of movement in your cash yet?
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Utterly B Groovy
Somewhat Sellaband addicted
He Moves And He Grooves But He Don't Got Hooves
Posts: 468
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Post by Utterly B Groovy on Mar 5, 2010 23:03:17 GMT
@ UBG: Any glimmers of movement in your cash yet? Not yet no ... but it's still under a week. Utt
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Post by Lucretia on Mar 5, 2010 23:54:46 GMT
The earliest one with a date that I know of is Hazel who stated she hit the payout button last Friday. This would put her 7 working days as this coming Tuesday and her last post on the Sellaband forum said she hasn't received the money yet.
Is there anyone here who actually went through the payout system on the Thursday, and got a confirmation, or was it broken then?
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Post by mawa on Mar 6, 2010 0:04:40 GMT
Hm, am I the only one thinking that these 'payout problems', like the reported 'amount is not deducted from balance', 'emails randomly not received/send' are kind of odd...now (given, that the system seemed to work before).
Or oddly convenient ... or maybe the ways of the old staff are still very much in place here...or maybe, paypal cancelled SABs account?
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thor
Sellaband addict in waiting
Posts: 42
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Post by thor on Mar 6, 2010 5:19:48 GMT
It's nothing odd! We know Sellaband had an Unexpected server issue on Feb.19th! No wonder that some things that worked before got broken. It's probably similar to the missing feature issue, the features that got suddenly lost in the transistion from their test server, where "everything worked smooth"(BonoV), to the live system in some former era.
About the staff... Who's still there and who got fired? We know that BonoV isn't there any more, and that Dagmar was part of the assets the new owner bought, I read in a post by an artist that Chris is not their music manager at least. Jeroen still posted in the official support forum.
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Utterly B Groovy
Somewhat Sellaband addicted
He Moves And He Grooves But He Don't Got Hooves
Posts: 468
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Post by Utterly B Groovy on Mar 6, 2010 7:54:01 GMT
Is there anyone here who actually went through the payout system on the Thursday, and got a confirmation, or was it broken then? Yep. I have it on good authority that UBG got both the Payout confirmation (Sun 28th Feb @ 15:55) and Payout notification (Sun 28th Feb @ 15:57) emails. The Payout confirmation contains a link to click on which confirms you want to take the money out, and once confirmed (by clicking on said link) you get the Payout notification saying the monies have been withdrawn. Still no sign of the monies at the Paypal end though. Utt
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