29/03/09. PrincipalReturn Review and Payment Processor News
THE PROGRAM STOPPED PAYING! PLEASE DON’T INVEST!
Hi everybody! If you read yesterday’s post you will have seen that I have joined a couple of new programs recently and I’d like to review them for you as soon as possible. No real emergency of course, I just don’t want another backlog of programs to review like I had recently. So the first one I want to look at today is called PrincipalReturn and as with several other recently reviewed programs it’s a low rate of interest HYIP, only this time for more of a medium term. Strange name don’t you think? I hope it does a bit more than just return my principal, lol!
So there are four plans to select from in PrincipalReturn although I expect it unlikely that many will be able to afford one of them. First up is “Plan A” and for a minimum spend of $10 you will be rewarded with 2% interest on your investment paid daily for a term of 30 calendar days. And while I know that the name of the program makes it pretty obvious but yes, your principal is returned on expiry. If we take a sample investment of $100 by the end of the investment term you will have $60 in pure profit and then have your initial hundred returned. Maximum investment is $1000.
“Plan B” is similar but for bigger spenders. Entry here will set you back a cool $1001 and like the previous plan will run for 30 calendar days. During that time you will receive 2.5% interest paid daily which will give you 75% pure profit and then your principal returned. You may invest anything up to $10,000 in this option.
If you don’t mind I’ll just skip over “Plan C”. Joining here will set you back a minimum of $10,000 so if you see any reason why spending that on an HYIP is a good idea perhaps you should contact PrincipalReturn directly.
“Plan D” on the other hand is altogether more interesting anyway. The minimum amount to spend is $100 (max $100,000) and offers not a daily payment but a once off payment of 200% of your principal paid on expiry. This figure by the way includes your principal, so it’s 100% profit and your original investment returned. Like the others the term also lasts for 30 days. More of a risk I know but then that is part and parcel of the higher reward. The payment options available to PrincipalReturn members are the usual HYIP choices of LibertyReserve and PerfectMoney.
The security of PrincipalReturn leaves a bit to be desired I must say. While it’s hosted by DdoSWiz who provide an excellent all round service, it’s on a shared server with several thousand other sites. In my opinion this is simply not good enough for a program that will gladly accept anything up to $100,000 of your money. Hopefully the admin will improve on this. No script is being used here so you can expect your payouts to be made directly into your e-currency account of choice. Customer support is offered in the form of an online ticketing system replying to your e-mail address.
I must admit I wouldn’t get over enthusiastic on this one. I know I mentioned in my original introduction of PrincipalReturn that the text was stolen from MesirowFinance. I’m not suggesting any connection whatsoever between those two programs but nevertheless allow me to change the word “stolen” with the word “borrowed”. The reason is that I don’t believe a single word about either site’s claims of being “global investment management companies”.
The final word? There are several better options available to those who like low ROI programs. NovalexFinance for instance or GeniusFunds. But if you are already in these then maybe PrincipalReturn would not be a bad option if you wish to diversify your portfolio, but only (as always) with an affordable deposit.
Payment processor news.
Today being Sunday I decided to publish payment processor news instead of a regular news update from the HYIP and autosurf world. As you might know AlertPay temporarily suspended payments using Credit cards. There was a so called “Credit card outage” for a couple of weeks already during which AlertPay keeps informing their clients about the current state of things in this matter. And this is the latest update which I found on their blog for those interested (the solution is to this is under review and can be expected soon):
“This week has been a very active week for us. Our CEO has been in talks with many banks that have shown tremendous interest in working with AlertPay. We’re going to have a clear picture of when we can turn on credit card processing next week. We’ll keep you posted. We appreciate your patience.”
StrictPay payment processor have updated their clients about the latest additions to their merchant list. It seems StrictPay is growing in popularity as there are literally dozens on new merchants being added. Here is the update from StrictPay sent a couple of days ago:
“StrictPay Customers, We have been getting many requests about what new merchants are using us, so we thought we would send an email out listing some of the new programs using StrictPay as a payment option.
For a list of others taking StrictPay please visit:
https://www.strictpay.com/merchants.php
We receive many emails a day, from StrictPay customers, asking us to contact a particular merchant about possibly accepting StrictPay. Please give us information on any programs that you would like us to contact by going to this link:
https://www.strictpay.com/merchant_contacts.php
Also keep in mind that an email from you, their customer, to a merchant is sometimes the best way to get that merchant to use StrictPay. If they feel there is a need from their customers they are more likely to add our service as an option.
If you are a merchant and would like to have your site listed in our Merchant Directory please use the following link to submit your listing. You must be logged in to create your Merchant Listing.
https://www.strictpay.com/members/merchant_listing.php“.
Finally SolidTrustPay announced on their site that the account of an infamous program P-2-P whose funds were frozen on warrant from the Canadian authorities. The police there wish to conduct an investigation on the admin of P-2-P on charges of fraud. The details that was published by STP administration regarding this story are as follows:
“We know that any P2P members are most anxious to know the facts regarding the involvement of the Ontario Police Dept. and Nick Smirnow. SolidTrustPay can confirm that a detective met at the offices of STPay on Monday, March 23 at which time we were informed that there was a warrant out for the arrest of Mr. Smirnow on charges of fraud. The investigation began as a result of complaints received by the Ontario Police Dept. STPay had received a phone call the week before as well. After that phone call, STPay officially put a hold on the P2P account. Previous to that time, there were no holds or suspensions placed on the account. Immediately after the hold was placed, we sent an email to Nick advising him of the decision and why.
While the investigation is ongoing any and all funds residing in the P2P account must be frozen. We are unable to comment on any possible outcome at this time. STPay will be asked for a full list of all transactions for this merchant. After an audit of those transactions, we expect to be informed as to what is required of us in terms of dispersing any remaining funds to those members at a significant loss.
We ask that you refrain from contacting STPay in regards to this situation – the above represents all that we are able to comment on.”
As you can see the payment processors wouldn’t be able to exist without the support of the members or of the investment programs they serve. So for the one single piece of HYIP news I would like to tell you today, the list of programs that paid me recently includes: MesirowFinance, EdwardBrownInvestments, InvestEvolution, IEvolutionSurf (the first payment received), GeniusFunds, ScotFund, AcrylicTrade, NanoMoneyCorp, FinancialProfitsCorp, OakCash, 7Inv, Verifield (the first payment received), FlowBroker, GeneticsIndustry, InfrastructureInv, EnscoOffshore, PrincipalReturn and RobusTrade (the first payment received). Although I’ve been paid from ScotFund today I have some information that ScotFund is paying selectively and I saw on forums that some people are waiting for their payments for more than 48 hours already. This is not good and I am going to remove ScotFund from my Personal Favorites list today but will give the admin another 24 hours to pay everybody since he didn’t actually stop communicating and still promises to pay. Anyway, exercise extreme caution with ScotFund program until further notice. You’ve been warned!
To close I just wanted to let you know that I joined another autosurf program today called CrystalPay. The design of the program seems to remind several investors of E-CashWave which scammed recently and although I found it very very similar it wasn’t exactly the same. There are two plans available (surf and non-surf) and four payment processors accepted: LibertyReserve, PerfectMoney, AlertPay and StrictPay with SolidTrustPay being on the way. I’ll let you know when it grts accepted. One upgrade unit in CrystalPay will cost you $5 with a maximum 1,000 adpacks allowed. Being in the Spark plan (surfing plan) you must surf 10 sites daily in order to earn your daily rebate of 10% for 12 days. As far as I could understand the payouts are being paid daily upon request. The second plan is the Luster where you will get 5% for 30 days and there is no need to surf. Your account in CrystalPay will be just credited with 5% every 24 hours. The script CrystalPay utilizes is Neversay and the site is hosted on a dedicated and DDoS-protected server by Staminus so the security is ok. CrystalPay is a rare autosurf site among the ones I’m currently in and I will update on my blog after I receive my first payout. This is it for today and I will see you all tomorrow with an extremely interesting interview with Jack Weiser, the admin of two very popular programs: InvestEvolution and IEvolutionSurf. Stay tuned and stay on the money with MNO blog!
Filed under Reviews by on Mar 29th, 2009. Comment.