18/04/09. Interview with the admin of PanaMoney. Part II

BEWARE! THIS PROGRAM HAS STOPPED PAYING! PLEASE DO NOT INVEST!

Hi everybody! I hope you’re all enjoying the weekend so far. As you no doubt know by now the work never stops at money-news-online though, lol! You’ll always find only the best articles here and today will be no exception. After one recent article I posted on my current top five programs (read it here) it occurred to me that PanaMoney is one of the longest running programs around at the moment and as I have previously conducted follow-up second interview with the admins of the best programs after six months, it was high time to give Allan Flank a call. His program definitely falls firmly into the category of the best online investment opportunities after all.

For once I’m a bit stuck for words as regards an introduction. Simply because I think Allan has outlined the workings of PanaMoney so well here that there is very little I can add. The program has been a runaway success since opening to the public last year and has been managed in a highly professional manner. Along the way they have achieved what only the best HYIPs achieve. And that is to make money for all who take the risk and get involved. If you are not familiar with PanaMoney yet I will just say it is a long term investment project that pays from 1% to 2.8% interest per day depending on the size of your investment. There is also a short term test plan for smaller amounts. For further details you can also refer to my original review here and to my last interview with Allan here.

“1. Hi Allan, for the benefit of those you are unfamiliar with PanaMoney, I’d like just to quickly recap on a few things we have covered in the past. So first of all could you please re-introduce yourself to the readers, old and new, of money-news-online and tell us all about your involvement in PanaMoney.

Hello, my position with PanaMoney Technologies, Inc. has not changed since our last conversation. I’m Allan Flank, Marketing Director of PanaMoney Technologies, Inc. I have been working with the company since its establishment in spring 2008.

2. I notice you sometimes advertise for new staff. Maybe you could give us a (brief) update on the people behind PanaMoney that the members may not know about. What departments do you have and what role do they play in keeping the whole business afloat?

We have Technical and Software, Marketing, Customer Support and Finance departments employing 23 staff members in total. In terms of our managed Forex trading accounts business, the most important is Technical and Software which currently has 8 employees. This department is responsible for our automated trading system functioning enabling the company to achieve above average trading performance level to the benefit of our company and our clients. At the same time the Customer Support department is fundamental for maintaining good and supporting relations with our clients and brining the clients’ feedback to attention of our management team.

As for the management team, it includes our director, Mr. Montero, Mr. Rodriguez (Finance), Mr. Franz (Technical), Mrs. Hyman (Customer Support) and me, Allan Flank (Marketing).

3. Could you please explain the investment plans available for new members coming into PanaMoney and outline what, if any, changes have taken place in these plans over the last six months? What payment options are currently available to those who wish to make a deposit?

There have been no modifications in our investment plans and they remain as follows:
Trial: 30-49 USD for 16 trading days with 0.5% maximum daily interest;
Beginner: 50-99 USD for 100 trading days with 1% maximum daily interest;
Standard: 100-999 USD for 180 trading days with 1.3% maximum daily interest;
Intermediate: 1,000-4,999 USD for 180 trading days with 1.6% maximum daily interest;
Advanced: 5,000-9,999 USD for 180 trading days with 1.9% maximum daily interest;
Professional: 10,000-14,999 USD for 180 trading days with 2.2% maximum daily interest;
Expert: 15,000-19,999 USD for 180 trading days with 2.5% maximum daily interest;
VIP: 20,000 USD or more for 180 trading days with 2.8% maximum daily interest.

The investment plans still set forth the maximum possible for each investment plan and the actual daily profit depends on the company’s trading result for the currency pair the client’s investment is traded with, but it cannot exceed the maximum for the investment plan.

We keep doing our best in providing various payment opportunities to our clients. Since our last conversation, we had added StrictPay and PerfectMoney as the funding and withdrawal options. It extended our payment methods to LibertyReserve, StrictPay, PerfectMoney, V-Money and bank transfers.

4. Again for the benefit of the first time investor, can you explain how the whole process works? From the moment I decide I want to join PanaMoney until the moment I receive my first payment, what happens? What exactly do I need to do? What happens behind the scenes?

It is hard to describe in just a few words, because the opportunities provided to every client are vast and every client can decide which plan he/she would like to take advantage of and how. Let me start with what I would do as an investor. I need to open an account first. Please note, we don’t have any fees for opening an account and don’t require any deposit be made. Once I am in my account I would surely go to the Trading History page to analyze the performance of all currency pairs the company trades with. Then I can deposit money to my Current Account balance and invest by going to Invest Money page. Before I invest I can decide how many investment plans I would like to open. For example, I can deposit $4000 and open 4 investment plans with $1000 each and select different currency pairs for them (if I am not sure which pair I want to trade with, for example). It means, on the List of Deposits page where I can see all my investment plans described, I can set up the different currency pairs for my plans. In the future I can keep opening new investment plans with my profits, for example, and have them traded separately or combine them with some other plan or them all. After I make an investment, I would wait for the next trading day my investment would be traded for the first time. During the trading day, I can visit Live Trade page, to see how company’s trades are doing, so by the end of the trading day I can estimate my profits. When the trading day is over, the profits come to my Current Account balance and I can withdraw or accumulate and further reinvest. Reinvesting is possible by opening a new investment plan only, which requires at least $30 on your Current Account balance.

5. Something we didn’t go into too much detail about in our last interview was security. Tell us in detail about that. Who is your hosting provider and are you on a dedicated server? What level of protection do they provide against DdoS attacks? What script are you using?

Nowadays Internet security becomes extremely important. Yes, we are using a number of dedicated servers. Our website, PanaMoney, is DDoS-protected, hacker-proof and SSL-protected. Every client can also see the COMODO insurance certificate on our website to make sure he/she enters our original website. As for the DDoS protection, it is an enterprise protection able to mitigate any volume of attack. Our website as well as our trading system are our company’s original products developed by our highly qualified personnel.

6. I notice one feature in particular is the Comodo security cert. Tell us about that. How does a site obtain this seal? Of what real benefit is this to the investor? Why should this make me feel any more confident about investing with PanaMoney?

This security certificate was issued after complete verification of our company by Comodo and its main purpose is to prove the authenticity of our website. As I have mentioned above, all clients can make sure the website they are entering is the original website of PanaMoney Technologies, Inc., which is the company with the contact information specified on the certificate.

7. Very few online programs survive as long as yours so my congratulations on that. Tell us how long has PanaMoney now been in operation? Tell us about your own personal experience in running the program during that time. Has there been a lot of changes that you’ve seen in that time, both in PanaMoney and in the HYIP industry as a whole?

The difference between PanaMoney Technologies, Inc. and online investment programs is that, we are not an investment program which runs for some time, but managed Forex trading is our permanent business. The company opened to the public in June 2008 and we still have a lot to look forward to. As for my personal experience, as a Marketing manager the only thing I can note, is the lack of professional and trustworthy Internet resources in investing industry. And I’d like to compliment on your Internet blog in this connection.

8. What have been the highlights of your time running PanaMoney? What have been the most difficult problems you have encountered and how did you deal with that?

In the course of our activity there have been no real significant problems. All current matters are resolved successfully. The current situation on the Forex market requires constant monitoring and a timely response. It is the most challenging part of our business, but we do our best in our trading and support activities to handle any situation to satisfy our client’s expectations.

9. Supposedly if I am a member of PanaMoney I can monitor your trading activities. How does that work?

Every client can login to his/her PanaMoney account and go to Live Trade page to see the trading process in real time and monitor our profits and losses during the trading day. On Trading History page the complete performance record of all our trades with 4 currency pairs is published.

10. Your FAQ page claims “PanaMoney guarantees your investment and profits are safe as PanaMoney Safety Fund has the required insurance coverage to provide a reliable client protection from any losses.” Is that a realistic claim to make? How can anybody possibly guarantee this, especially these days. Explain how that works? Who insures the program?

We are able to guarantee no trading loss to our client’s investment. It means, in case of any negative trading day for some currency pair, no loss is deducted from the client’s account, as the company covers the trading losses by the Safety Fund. The Fund is formed from the part of our trading profits the company makes. If you have a look at our trading performance which is positive in most of the cases, you can realize we are able to keep our promise. Besides, when one currency trades go negative, others can bring substantial profits on the same day. The negative trade is just an indicator to make adjustments into the trading system for the future. And we are proud we are doing a good job so far.

11. What level of customer support do you provide? What is the best way to contact you if there are any questions or problems? Will we be seeing telephone support anytime soon?

Taking this opportunity, I would like our clients or prospective clients to pay attention to our FAQ and Terms of Service that can answer most of the client’s questions. All other questions can be answered by contacting Customer Support by e-mail, submitting a ticket, leaving a message in the contact form on our website or contacting Customer Support in live chat. Phone-support is under development, as most issues can be answered in live chat, which is even more convenient for non-English speakers to use allowing them to use online or other translation services.

12. I have seen some completely groundless and unproven rumors on some online forums recently allegedly linking you to a number of other websites (most of which are quite legitimate businesses like Dragonara, e-commerce journal, etc so I don’t really know what the scandal is about). Can you give a final and definitive answer to these allegations?

I cannot comment on some groundless rumors of some companies’ connections or any linking businesses. Nowadays, the Internet allows anybody leave any public message or opinion, which is a good thing, on one hand. On the other, everybody should understand that in any competitive environment it can be used for some mala fide purposes.

PanaMoney Technologies, Inc. is not connected with any companies, electronic payment processors, protection services providers or other investment businesses. We surely use third party services in our business as any other companies, but it does not lead to any association or representation.

13. Usually I would not have asked that question but if you run an online HYIP you must accept that these stories will always be around and always be believed by someone, no matter how ridiculous. So how do you protect and promote your reputation and maintain a trusting relationship with your members in such an environment?

I think the best thing to do is always to research and ask. We are open with our clients, and I believe our clients appreciate that. The transparency of our activities and openness to any questions is the basis for any trusting relationships.

14. Following on from that, what’s your opinion of the online investment industry as a whole? What do you consider to be the good things about it and what do you consider the bad? What advice would you offer to new investors just coming into this business for the first time?

I think the online investment industry today is still under development and, from the investor’s point of view, it can be greatly confusing. In this way, I see our main objective as the stakeholders, to build a trustworthy, open and easy environment for investors. For new investors I would recommend to use their best judgment when taking their investing decisions and to go for the long-term stability instead of ambiguous businesses.

15. What can we expect to see in the future from PanaMoney? How do you plan to further develop your program, to attract more members and to consolidate your position as one of the top online investment programs of the last year?

Our big plan for this year is to implement the trading system for precious metals (gold and silver). It requires time and much effort from our employees as this system is being tested. This year we have amended our business license for this purpose, to expand our activities to trading precious metals. When implemented, the system will be a new competitive investing option for our clients to benefit from.”

Well I think that covered just about everything so I would like to thank Allan for giving such an interesting interview and especially for not dodging any questions as some admis occasionally do. As you can see there has been a few changes made in PanaMoney with the addition of some extra payment options. One thing that has not changed however is the top level of professionalism and service supplied by PanaMoney to it’s ever growing legion of loyal members.

To finish, let me just reiterate what most of my regular readers and those of you you e-mail me regularly will already be aware of. First of all I am extremely skeptical of any HYIPs claims of having some kind of outside business interest that funds the payouts to members. I also put the life span of a really good HYIP at anything from three to six months. If a program goes beyond six months, only then will I entertain the notion that there may be some kind of legitimate business going on behind the program. PanaMoney would certainly appear to be involved with something a bit more substantial than just online HYIP games.

Of course I have no personal involvement with them so I can offer no guarantees about their future performance. What I can do however is comment on my own experience with them which has been hugely positive and more to the point, profitable. And I can offer my opinion, which is no better or worse than yours and you can take it or leave it however it pleases you, but I think PanaMoney is an excellent program and I have no reason to doubt they will be operating for some time to come. I mean I haven’t actually been to their office and I can’t personally guarantee that they are doing what they say they do, but I’m not sure I care. Because what I can guarantee you is whatever they are doing, they are doing it right. Miguel de Cervantes wrote in his often quoted Don Quixote novel that. “The proof of the pudding is the eating.” And I guess the relevance of that here is that the best way to find out if what I say about PanaMoney is correct is to get off the fence and take part. I doubt you’ll be disappointed.