-- Begin B GPT Insanity: Reasons why Stormpay will suspend your account

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Wednesday, March 08, 2006

Reasons why Stormpay will suspend your account

If you look through Stormpay's website, you should be able to find this info.

Reasons an account may be Suspended?
Closing accounts and limiting account access: StormPay Inc. reserves the right to limit access to purchasing or making withdrawals from an account for any one of the events listed below. In the event your account access is restricted, all funds within the account will be held for a period of 180 days to cover against any chargebacks your account may incur. After 180 days of account restriction, you may contact StormPay Inc. to request the balance of any remaining funds held within your StormPay account.
See reasons below:
1. Reports of unauthorized or unusual bank account use associated with the account:
2. Reports of unauthorized or unusual credit card use associated with the account including, but not limited to, notice by the card issuing bank. This includes notices made by you to your credit card company that a transaction was unauthorized or your account compromised, and is done in order to protect you from further unauthorized use of your card:
3. Abuse by a buyer of the reversal process provided by the buyer's issuing bank:
4. Complaints received regarding non-shipment of merchandise, non-delivery of services, merchandise not as described, or problems with merchandise shipped:
5. Receipt of potentially fraudulent funds:
6. Refusal to cooperate in an investigation or provide confirmation of identity when requested:
7. Initiation by a buyer of a reversal process through the buyer's issuing bank without first pursuing the vendor or StormPay Inc. to satisfy the situation:
8. Opening multiple StormPay accounts:
9. The account has been used in or to facilitate fraudulent activity:
10. Name on the bank account does not match the name on the StormPay account or does not relate to the name on the StormPay account:
11. Return of an incoming Electronic Funds Transfer for insufficient funds in the bank account, incorrect bank routing number, or incorrect bank account number:
12. Receipt by StormPay of excessive complaints regarding your account, business or service:
13. Use of an anonymizing proxy:
14. Logging in from any country on StormPay's non-approved country list: 15. Initiation of transactions considered to be cash advances or assisting in cash advances.
16. Sending unsolicited email or posting referral links on websites where they are not permitted.
17. Any violations of the StormPay user agreement.


While it may be true that other payment processors have similar terms and conditions regarding fraud & other illegal activity, it is in the implementation of Stormpay's policies that has everyone in uproar.

For those who have even a single transaction with an autosurf or HYIP, this means that your accounts will be frozen (if they aren't yet, they will be). It doesn't matter if
the transaction was for less than $5. Or, that your dabble in said autosurf/HYIP was over 6 months ago. Even if the majority of your transactions are legitimate, your entire account balance will be frozen.

I wonder if anyone's keeping track of the number of suspended Stormpay accounts.
100,000? 300,000? 500,000? More?

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