Late 2009 the Dutch Central Bank (DCB) got in touch with SellaBand to investigate whether or not the 'withdrawal option' at SellaBand was a violation of the law on financial supervision (Wet Financieel Toezicht/ Wft). From day one the DCB stressed that they were never under the impression that SellaBand was willingly violating the law. After a couple of months of investigating and us providing several other options they came to the conclusion that it is a violation of the WFT (article 3.5 of the WFT) and that SellaBand, since SellaBand isn´t and is not going to be a Bank, has to stop the withdrawal option. This means that from September 1st we are not allowed to offer the possibility to withdraw money deposited to SellaBand so also not in the two-week period we've used since the re-launch. It' a pity as we really wanted to give you and all new Believers that option, although not that many Believers have used it in the past. But you can still move Parts from one Music Project to another and use the money on your Part balance to buy products in the SellaBand store, soon not just music from SellaBand artists as we will add more stuff to buy.
Since revenues are going to be treated differently we´ve introduced a separate "Revenue balance" where all your Revenue earnings will be credited to. The money on this revenue balance can either be paid out to your paypal account or used to by Parts. However once invested into parts this money will not be available any more to be paid out.