This one is pretty comprehensive looks like they have been doing this EXACT same stuff for a long time, just not on the scale that is gonna lead to their total obliteration caused by a westward draft from Charis's Crack Pipe.
This one is pretty comprehensive looks like they have been doing this EXACT same stuff for a long time, just not on the scale that is gonna lead to their total obliteration caused by a westward draft from Charis's Crack Pipe.
Actually, some of these complaints are from 2 years ago and here is a reply from Stormpay to a member in 2005 who was asking questions of Stormpay about their account:
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Hello,
Your StormPay account has been temporarily restricted due to a violation of StormPay's User Agreement. Restricted accounts cannot be accessed for a period of 180 days, at which time you are entitled to withdraw any remaining funds in your account which are held to guard against possible chargebacks to your account.
The following is the reason for account restriction:
You may not use StormPay to send or receive payments for any form of multi-level marketing programs (including online payment randomizers), as well as matrix, pyramid and Ponzi schemes, "get rich quick" scheme, or other similar ventures.
Pyramid schemes, including Gifting Clubs and Ponzi schemes, involve the exchange of money in relation to the process of enrolling other people into the scheme. StormPay includes in its definition of "pyramid schemes" any system in which a hierarchy is created by people joining under others who joined previously, and in which those who join make payments to those above them in the hierarchy ("upline"). Pyramid schemes are prohibited as a form of investment fraud by federal laws and by the laws of each of the fifty individual states. StormPay considers online payment randomizers to be a type of pyramid scheme because the majority of commissions are paid for recruitment of new members, and typically operate by random placement within the program.
StormPay prohibits as a "matrix program" any business model that involves the exchange of money primarily for the purpose of being added to a waiting list for a product. In these instances, the individual at the top of the list receives the product only after a set number of people have joined below any other person.
Thank you,
Tiffany
StormPay Support
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In the above case, Stormpay allegedly stole $32,000.00 from someone who was running a doubler and paying out members on time.
This was 2005 and Stormpay is claiming here not to do business with MLM, pyramid, matrix, etc, and then only a year later they take on 12DP and other HYIP's, and now in 2006.......WHATEVER---They talk in circles and do whatever they WANT to do WHENEVER they want. They just make me sick!
Yeah, and they thought they were slick by removing th following line from their hompage:
Sell Online: StormPay is MLM friendly and will not "freeze" or "suspend" your account for any reason other than fraud or spam!
__________________
I am not a lawyer, broker, doctor or chef. My posts are not intended to be interpreted as legal, financial, medical, or culinary advice!
[quote=bigrrl] You may not use StormPay to send or receive payments for any form of multi-level marketing programs [quote]
Since when did this policy come into effect? The only reason 75-80% of Stormpay's customers ever used them in the first place, was as an alternative to Paypal, who have never accepted MLM, or matrix programs. I distincly remember when Stormpay first came out, and "MLM Friendly" was their angle to get new customers. Plus they themselves have a 6 level MLM affiliate program!
[quote=iami][quote=bigrrl] You may not use StormPay to send or receive payments for any form of multi-level marketing programs
Quote:
Since when did this policy come into effect? The only reason 75-80% of Stormpay's customers ever used them in the first place, was as an alternative to Paypal, who have never accepted MLM, or matrix programs. I distincly remember when Stormpay first came out, and "MLM Friendly" was their angle to get new customers. Plus they themselves have a 6 level MLM affiliate program!
I just took something from the link which is listed in the first post and copied and pasted it in my post. If you will go to that link, it lists some complaints that Stormpay was having 2 years ago. The one I posted is one where Stormpay is saying 1 year ago the policy of no MLM's, etc. They just do whatever they want whenever they want. They have been involved with all these *now questionable* companies for at least 2 years, is all I was trying to point out.
Actually, some of these complaints are from 2 years ago and here is a reply from Stormpay to a member in 2005 who was asking questions of Stormpay about their account:
--------------------------------------------------------------------------
Hello,
The following is the reason for account restriction:
You may not use StormPay to send or receive payments for any form of multi-level marketing programs (including online payment randomizers), as well as matrix, pyramid and Ponzi schemes, "get rich quick" scheme, or other similar ventures.
Thank you,
Tiffany
StormPay Support
--------------------------------------------------------------------------
In the first place, why does stormpay accept merchants who deal in ponzie, pyramid or other illegal programs? If such merchants are not under stormpay, there is no way members can participate in such programs! So looks like stormpay needs to suspend their own account first, as they went against their own terms.
Actually, some of these complaints are from 2 years ago and here is a reply from Stormpay to a member in 2005 who was asking questions of Stormpay about their account:
--------------------------------------------------------------------------
Hello,
Your StormPay account has been temporarily restricted due to a violation of StormPay's User Agreement. Restricted accounts cannot be accessed for a period of 180 days, at which time you are entitled to withdraw any remaining funds in your account which are held to guard against possible chargebacks to your account.
The following is the reason for account restriction:
You may not use StormPay to send or receive payments for any form of multi-level marketing programs (including online payment randomizers), as well as matrix, pyramid and Ponzi schemes, "get rich quick" scheme, or other similar ventures.
Pyramid schemes, including Gifting Clubs and Ponzi schemes, involve the exchange of money in relation to the process of enrolling other people into the scheme. StormPay includes in its definition of "pyramid schemes" any system in which a hierarchy is created by people joining under others who joined previously, and in which those who join make payments to those above them in the hierarchy ("upline"). Pyramid schemes are prohibited as a form of investment fraud by federal laws and by the laws of each of the fifty individual states. StormPay considers online payment randomizers to be a type of pyramid scheme because the majority of commissions are paid for recruitment of new members, and typically operate by random placement within the program.
StormPay prohibits as a "matrix program" any business model that involves the exchange of money primarily for the purpose of being added to a waiting list for a product. In these instances, the individual at the top of the list receives the product only after a set number of people have joined below any other person.
Thank you,
Tiffany
StormPay Support
--------------------------------------------------------------------------
In the above case, Stormpay allegedly stole $32,000.00 from someone who was running a doubler and paying out members on time.
This was 2005 and Stormpay is claiming here not to do business with MLM, pyramid, matrix, etc, and then only a year later they take on 12DP and other HYIP's, and now in 2006.......WHATEVER---They talk in circles and do whatever they WANT to do WHENEVER they want. They just make me sick!
I disagree. But that's irelevent, becaus in this case the e-mail said:
Quote:
The following is the reason for account restriction:
You may not use StormPay to send or receive payments for any form of multi-level marketing programs (including online payment randomizers)
__________________
I am not a lawyer, broker, doctor or chef. My posts are not intended to be interpreted as legal, financial, medical, or culinary advice!
Stormpay complaints from last year
Hybrid Mode
