My Own Stormpay Horror Story

Well, I was expecting this to happen sooner or later. I finally got a Stormpay chargeback. You'll never guess for what...


Remember Profits4InvestingToo (P4I2)? It's a ponzi. At least, that's what people call it now. When it was paying out, it was 'THE best HYIP ever'. Well, my ONLY Stormpay payment received from P4I2, for a paltry sum of $5.71, was charged back to p4I2's account today. Of course, I only received $4.63 of that $5.71, because of Stormpay's exorbitant fees. But is that considered? No, it isn't. Now, my Stormpay account is in the negative ($-5.36) because I'd already spent most of my Stormpay funds before the HYIP & autosurf account freezings. They haven't charged the $35 chargeback fee yet, but I bet they will do, eventually.

Here's a screenshot of my Stormpay history (click for a larger image):



If you look at the history, I basically used Stormclix earnings to deposit with P4I2, and after a period of about 1 month, P4I2 paid me. Actually, I wasn't expecting any money from P4I2, since towards the end of January, P4I2 was having serious server and payment issues - code for 'no more money, goodbye, pffttttt'.

As I mentioned before, the chargeback doesn't consider the transaction fees (in the case of my small $5.71 payment, it's approx 19%!). Now, if Stormpay is doing this for everyone else involved with autosurfs and HYIPs, think of all the transaction fees and chargebacks involved. If and when this thing is resolved, no doubt Stormpay will charge the transaction fees again when redistributing the money. Let's say the average transaction fee is 5%. Now, count it both ways. That's 10%. Remember the claim that Stormpay had $50 million of 12DailyPro funds? Well, Stormpay just made a cool $5 million on paper from this little chargeback exercise, and that EXCLUDES the chargeback fees.

Now, I am SO glad I decided NOT to link a bank account or credit card to Stormpay. My Stormpay story is nothing compared to the many who put their money and trust in Stormpay. I really sympathise with those who have had thousands of dollars worth of chargebacks in the last month.

For more Stormpay horror stories, try stormpayfraud.blogspot.com, visit the forum at boycottstormpay.com.


In other news:

12DailyPro have cancelled their GPT Convention. Frankly speaking, I would have be surprised if it DID go ahead as scheduled.

Autosurfers are raving about WiredSurf, a new autosurf program. Transactions are done via e-gold or EMO. The site looks professionally done. Also, the more upgrades you purchase, the more ad credits you receive - the emphasis seems to be that you're actually paying for advertising, with an opportunity to earn by surfing 16 sites, 8% daily for 16 days. This works out to 128% return, so 28% profit in 16 days. That's 1.75% daily. Comparable to some HYIPs. Still, with all the problems going on, it's risky.


Now, if you'll excuse me, I've got a nasty email to write.