05/08/2011. MNOFridays (15th issue) and Daily News from the Industry
Hi guys! Today I want to start with a short article about AlertPay’s controversial and often malicious actions taken against certain HYIPs. Actions that have had a crippling affect on both admins and investors alike and therefore the entire HYIP industry as a whole. As you might remember MNOFridays is an occasional feature on MNO that looks at some of the less discussed aspects of how the HYIP industry works and tries to examine what it all means for the individual investor. So I think today’s topic is a timely one write it in hope that the investment community will stop pretending nothing’s happening while investors keep losing money and find themselves deprived of their potential profits.
As recently as last year AlertPay (on a par with LibertyReserve) was one of the most popular payment processors in the online HYIP industry. It was gladly used by both HYIP admins who know that their program would not be taken seriously if they didn’t accept them and HYIP investors who were convinced that investing money via AlertPay is much safer due to the option of filing a dispute if you got scammed and receiving a partial refund. Sometimes even a full refund if you were lucky. As time went on AlertPay grew into the biggest payment processor in the industry, helped in no small part by their chargebacks police. Though this created a false sense of security as not all chargeback requests were honored by AP even in those days. According to the latest reports from AlertPay they’re now a respected financial company acting in accordance with Canadian law where they have their offices. However these legal guidelines merely lend AlertPay the appearance of legitimacy to their actions against HYIPs, hiding these actions behind some kind of legal cloak to confuse any potential questions about the selective nature of their actions.
Anyway, despite allegedly being a legal and regulated company AlertPay still prefers to deal with HYIPs and other ponzi based schemes which are deliberately included in their Terms of Service and acceptance of businesses. It’s a very convenient position for this payment processor as it will allow them to profit both from fees on every transaction and from the seizure of the funds in such accounts when the time comes – losing you money as an investor and as an HYIP admin. So they keep doing it more and more often causing problems for investors who would otherwise have received profits from quality investment programs and HYIP admins who had to close their programs prematurely due to the damage done by AlertPay.
That is why the main aim of this article is to show you the disadvantages of using AlertPay in the HYIP world as a payment system which can lead you to some losses and unnecessary frustration regardless of who you are – a regular investor or an HYIP admin.
First let’s look at AlertPay as a convenient payment method for a regular HYIP investor trying to make a little extra money by playing the industry. Just a year ago AlertPay was widely known for their efforts in recovering money for investors after large HYIPs collapsed. That alone attracted hordes of new clients to them and possibly was deliberately done to make them even bigger and attract a lot of money from which they charge fees. Yes, I can agree with thousands of investors that blocking the AlertPay accounts of HYI programs that scammed can be considered legitimate and could really save you money which would have otherwise simply disappeared. But then consider that AlertPay blocks and suspends the accounts of HYIPs with perfect payment records to their investors and have never scammed anybody. Now, the investors might say they do not care about those blockages as they were about to get their money back anyway. But are you sure this is going to happen? Are you sure the temptation can be kept in check and AlertPay will not dip into those funds to line their own pockets? Or that that wasn’t their real motivation in the first place? Recent reports submitted to me by some MNO readers suggested that in most cases investors had to wait for their disputes to be resolved for a very long period of time and even if they do get something in the end it was usually a tiny fraction of what they originally deposited and didn’t compensate for the time and effort they spent on the countless emails to AlertPay.
And I must say that despite the alleged increased numbers of customer service staff in AlertPay most of the time investors receive an automated email stating that their dispute would be considered and no real timeframe given. The waiting period can be really long and some state that they submitted up to 20 disputes on different HYIP scams and did not receive a cent back from the processor whom they paid such enormous fees for the alleged service and with whose fees they actually pay their customer service department. In my personal opinion the customer support in AlertPay got worse with each passing year as they expand in the HYIP industry. Currently I’d describe it as “a disappointment” to say the least. Many of your support tickets to them can be totally ignored or replied only to by automatic messages in a few weeks. You’d think by now that with the enormous money AlertPay charge in fees they could hire some decent customer service reps for their clients. My point is borne out by their current BBB rating which is being reviewed now as more and more complaints are made to this agency – click here to see the latest AlertPay rating.
Delayed replies to support tickets or their inability to resolve your dispute with an admin is not the worst thing that could happen if you deal with them however. Please note that at ANY time the profits you received from any HYI program which you thought to you already earned, safely withdrew to your bank, and possibly even already spent can be reversed as well. No, I’m not kidding! I already got a lot of reports from readers stating that AlertPay not only reversed the profits they received from a particular program but also didn’t return the original deposit that they had made either. Such cases were submitted to me several times and I can tell you I was especially sorry for the guy who deposited $1,000 to realize later that not only were his profits of $1,300 reversed from his account, but the original deposit (ie his own money!) was not returned either. So, by investing with AlertPay this guy lost his own deposit of $1,000 which otherwise he could have spent on something else. But why am I telling you about these cases that affect only individual members? Everybody should remember that after the reintroduction of AP deposits and withdrawals by GorgonProjectInvest and the repeated blocking of the admin’s AP accounts all the profits that were received by members were reversed by AlertPay. Yes, that’s right – all the profits were reversed and as far as I know AlertPay didn’t even try to explain this was done. This is just more proof of the total arrogance and cavalier attitude of AlertPay which can really have an adverse affect on your online earnings.
Yes, I can agree that AlertPay used to be a great option for HYIP investors – nobody can argue with that – but you should admit that it’s not the same anymore. Those days are long gone. They’ve changed from a company that tried to protect you from scams to a company that tries to take as much money as possible from perfectly good programs and ignoring the scams. I’m really pleased however to see that with their attacks on two well established short term programs, EarnGroups and MaxiEarn, (which are still paying as of now, by the way) only resulted in many investors switching to a certain competitor of AlertPay which is much better in terms of deposit and withdrawal options and is much more efficient when it comes to customer support. I’m talking about SolidTrustPay which coincidentally is also based in Canada. STP has a well deserved reputation for being in the industry for many years and only the recent rise of AlertPay among HYIP admins and their issues with Debit cards led their popularity trailing off somewhat. And now with AlertPay’s unpredictable approach to some HYIPs I believe more and more people realizing this will switch to the more reliable LibertyReserve and PerfectMoney (if they prefer irreversible transactions) or SolidTrustPay (a superior alternative to AlertPay which now allows deposits and withdrawals via Credit/Debit cards for its verified members and a mass payments system for program admins). This is actually much better option for those who prefer to see real profits from HYIPs in their e-currency accounts instead of being dictated to and never knowing what will be taken out of your account.
Please be aware that the practice of blocking and suspending accounts not only applies to HYIP owners but concerns regular investors as well. AlertPay can suspend or block your account whenever it likes and it sometimes happens if what they deem “suspicious” activities are detected in your account. Usually it coincides “incidentally” with the appearance of a big sum of money in your AlertPay account be it profits from your favorite HYI program or any other source. That is why it is highly recommended to keep as close to a zero balance as possible in your AlertPay account. It’s much safer to withdraw everything to your bank account or exchange it to a different e-currency as soon as you get the money. This is just a reasonable advice after seeing so many people that suffered from this policy and lost thousands. If you ever made a profit from a HYIP that closed sometime later, AlertPay can come and take that money back. And if you think that can’t happen because you withdrew and spent that money then think again! I can tell you for a fact that they will simply take any money they like that you received from any source.
So now that we see why you shouldn’t use AlertPay if you are an online investor we will move on to HYIP admins and see if they can use AlertPay safely if they want their programs to be successful and last longer.
As you might imagine the answer to that question is a categorical “no”. I must say that AlertPay can be especially dangerous to short-term programs largely due to a high turnover of money and of members, plus the necessity to pay profits faster. AlertPay blocks the accounts of such programs more often and usually that means the collapse of the program and losses not only for AlertPay investors but for those who deposited via LibertyReserve and PerfectMoney. This is not the rule though as we can see that such recent victims like EarnGroups and MaxiEarn are still paying members and even adding more payment options as alternatives. But we can also remember the program that was considered by many as the next big thing in the industry – ExoticFx. After their issues with AlertPay they couldn’t recover and collapsed shortly afterwards leaving hundreds of investors at a loss. Only by some miracle earlier this year GorgonProjectInvest escaped the same fate after the intervention of GDP payment processor who acted as a sponsor to those who lost money in AlertPay allowing the admin to resuscitate the program.
Then there’s the case when a short-term HYIP is suddenly asked for additional verification, just after its account coincidentally reaches several thousand dollars of course. This is what happened to EarnGroups when the admin was asked for additional verification (why wasn’t he asked this at the very beginning?) and his account was finally suspended shortly afterwards just to prevent him issuing refunds to his members. I don’t know of any justifiable reason why this had to be done as EarnGroups had yet to miss a single payment to its members.
Do you still think that AlertPay only care about their customers by blocking the accounts of HYIPs and protecting them from potential losses (and profits!) Do you actually believe that they don’t keep any of this money for themselves? AlertPay is not exactly transparent when it comes to discrepancies between much money was left in the closed HYIPs accounts and how much was actually refunded to its members. And the only reason I can logically come up with for their actions in freezing these accounts in the first place is for their own benefit and keeping the money for themselves. Of course we will never know how much funds AlertPay stole from HYIPs and their investors during the years as this is a closely guarded secret but I imagine for a few years online it will be an astronomical amount. I’ll bet that the money seized from EarnGroups and the money returned to EarnGroups members will be two vastly different figures. It’s no wonder that in the latest update from the AP official blog was dedicated to their movement to new offices which I would not be surprised to here were paid for with the thousands of dollars taken from the investors of EarnGroups and similar programs. Anyway, the admin of the program managed to give a screenshot of his account to the public with a whopping $140K in it. Enough to get you a good spot in a nice neighborhood, so enjoy the view!
If you agree with me and also believe that blocking HYIP accounts and keeping silent about the selective nature of why and who you block please join the campaign to have AlertPay either play ball with the responsible participants in the HYIP industry or else move out of the arena completely. All you need to do is switch to any other payment processor and deprive AlertPay of their fees. I think since AlertPay ignores investigations from the Better Business Bureau and don’t listen to the voice of reason it can be safely concluded that they don’t care all that much about what others have to say. The only thing they will understand therefore is to be hit financially. Since AlertPay is not a serious payment processor (like Paypal) and is still financed by HYIP industry money I believe that losing their customers (which they don’t care about) and their money (which they DO care) will be a perfect lesson for them and teach them how not to treat people. Otherwise I believe AlertPay will keep going nowhere and will eventually be avoided by both HYIP admins and HYIP investors alike. This is especially sad as AlertPay used to be a very good service provider, unfortunately something that is no longer the case.
I would like to say now that I know it’s totally up to you how to spend your money and where you choose to keep it. The only reason for me expressing my own thoughts on the subject is at the request of many investors and HYIP admins upset by the direction AlertPay is now taking, rapidly turning into a scam keeping the money under some bizarre guise of building new offices and increasing their staff numbers while still having the poorest support of any payment processor. Sadly, big money spoiled them but at this particular point I can see no way that they will cease accepting HYIPs (not while they can smell huge profits they won’t). Of course they can always obtain the legitimacy they so desperately crave by dropping the HYIP industry completely, and if not then for God’s sake stop biting the hand that feeds you! Because it’s the height of hypocrisy.
In my opinion, AlertPay is currently on the slippery slope to joining a long list of failed internet scams it was once so eager to protect you from if it doesn’t change its rotten system. They now only accentuate the losses suffered by investors, so ask yourself if we all really need such a business in the HYIP world and whether you’re better off without them? I think the answer is obvious, don’t you? Boasting about your brand new office is one thing, but it’s a pretty bitter pill to swallow when you consider where the money came from to pay for it all (investor’s pockets!). If they really want to impress me then let’s hear a bit less talk about how well they’re doing and see a bit more action in helping their clients get the service they are paying so handsomely for and not get ripped off at every available turn. I mean it was bad enough worrying about when an admin would scam you, but add the payment processor to list of people trying steal from you and it just does untold damage to the entire industry and the 99% of decent folks just trying to help themselves make ends meet by picking up a couple of bucks here and there online.
DAILY NEWS FROM THE INDUSTRY.
The admin of Opulentia Daniel (interviewed here) just officially announced that Saturday will be the last day when the celebratory short-term plan paying 125% after 7 days is available. The minimum to invest in that plan is only $1 which is accepted via all the main payment processors – LibertyReserve, PerfectMoney, GlobalDigitalPay, AlertPay and SolidTrustPay. Since the plan was first introduced more than a week ago today I received the first emails from readers stating that they were successfully paid their principal and profit back from Opulentia. Well, I can see that it’s quite an encouraging sign for those who were maybe a bit skeptical about the whole thing. Note that after 24 hours the plan will be removed and two original main investment plans will remain available for everybody – 2.15% on every business day for 365 days and 11% for 55 weeks with principal returned on expiry. Meanwhile, enjoy the higher than usual profit from Opulentia which is celebrating six months online having reached the #2 position on MNO Ranking. Here is the latest newsletter from Opulentia (reviewed here):
“OPULENTIA: Celebratory “short term” plan
We would just like to remind you that today (Saturday, 6. August 2011.) is the last day for investing in our Celebratory “short term” plan, which gives you 25% plus the principal in only 7 days.
Thank you for your trust.
Best regards, Daniel Beletzky.
CEO at Opulentia”.
In the recent interview with HitNRunMasters (click here to read it) the admin, who simply calls himself “NB”, told us many fascinating stories about how his program operates. It was all just words of course without any names and any concrete evidence given. To me nicely written words remain mere words if they are not substantiated with real evidence. In the latest newsletter the admin of HitNRunMasters does the same thing again – he tells us about two programs run by the same admin from which the team of HnRM made a lot of money from but never gives the name of either of them. I believe many investors would be interested in hearing exactly which programs he was talking about, especially that now that they made their money nothing can prevent him expanding on the story. It would only raise awareness of his program. Unless it’s done, sorry but I cannot take all these stories seriously, although it’s an indisputable fact that the admin of HitNRunMasters is a master story teller. His newsletters are great reading and I could listen to the man all day, but only as a work of fiction and not facts. One thing I won’t argue with is the fact that HitNRunMasters is also a very promising new program. It launched two weeks ago and pays 1.5%-2.8% daily for 365 days to LibertyReserve and PerfectMoney with the original rules of getting your principal back explained in the detailed review published here. And the latest newsletter from the program can be read below:
“HitNRunMasters is on a ROLL!
Thanks to the MNO Interview, which you can read here
Many people are beginning to understand our true mission and the opportunity we have presented. We have seen a definite increase in the number of members coming onboard and in the size of deposits they are making. Our approval rating is beginning to sway from “What the heck” to “Oh I get it”.
HnRM is not here to kill programs and cost the investors money. HnRM is here to eliminate ONLY certain Admin and ONLY their programs. We are after the Admins that are causing massive investor losses and screwing up this industry. They are our sole target. By closing them down and taking their money, we are not robbing the investor. The investor never had a chance to begin with.
We want a program to last as long as it can. The longer a program last the easier it is for us to place our investments and withdraw our profits. Just like you. In fact, many many many times, if it wasn’t for us, programs would fail sooner, which would result in more losses for the majority.
But be aware, we are infiltrating numerous programs, each with hundreds of accounts and we are making dozens and dozens of investments. Our strategy, our formula, our overall design, coupled with the eyes and ears of the market in general, provide for us an insight that is not available to 99% of the investors. When we have completely exited a program there is, in FACT, an 85% chance that program will fail relatively quickly.
In two such programs the Admin is exercising his exit strategy as we speak. We have already exited their program with massive profits. These two programs have the same admin, they look almost identical, both are high interest short term plans. One has been live for slightly over a month, the other was launched 2 weeks later. Due to our exit, with several 10’s of thousands in profit, the admin has begun to withdraw his reserves from both payment processors to his own pockets and the programs will collapse very soon. We suspect that the Admin may, or could, use some of the remaining profit from the first program to attempt to maintain the second in hope it revives. But mark my words, he is a target, and we won’t miss!
I have already said enough, perhaps too much.
Investors need to work together to support this industry. By doing so, we can all make more money and revive this industry.
It is TIME we band together!
It is TIME we turn this arena around!
It is TIME to make the changes!
It is a NEW DAWN in the world of HYIP!
THE WAR HAS BEGUN!
Are you going to emerge Victorious or lie Wasted as a Casualty?
The choice is yours!!!
HitNRunMasters. The HYIP Destiny is OUR Choice!”
The website of SafeDepositary (reviewed here) let investors about delayed payments due to website engine optimization work today. Anyway, having been online for nearly a year SafeDepositary needn’t worry about any negative reactions due to technical delays. I can confirm that SafeDepositary still pays fine to AlertPay, LibertyReserve, PerfectMoney and SolidTrustPay accounts. SafeDepositary offers an uncomplicated and pretty straightforward plan to investors – 1.6%-2.3% for 150 business days with the principal returned on expiry and the minimum deposit of $10 allowed. One other thing I like about SafeDepositary is the fact that the payouts are almost always processed instantly which adds to the overwhelmingly positive feedback from its thousands of investors so far. Here is the latest short update posted on SafeDepositary‘s site today:
“Website engine optimization
Dear clients! SafeDepositary informs about delayed interest payments for today August 5th. We were working on reorganization of some parts of website engine in order to optimize it. As of today we are close to 30,000 active clients so we needed to decrease server loading to make the things working better and faster for your comfort. Optimization is already completed and all missing interest payments are getting posted. We hope for understanding.”
Another program generally greeted with a positive response from investors is JPDaily (reviewed here). Yesterday the admin, Rich, announced that commencing next Monday the minimum deposit will be raised from the current $1 accepted via LibertyReserve to $20. Anyone without this minimum in their account will be refunded unless they wish to stay put and invest more. I remind you that by investing in JPDaily you can enjoy a variable daily profit which resulted in over 3% yesterday and today was almost 5%. That’s over 8% for the last two days so not a bad result at all by any standards. It looks to me that the admin is quite serious in bringing his program to a new level and gradually targeting only more serious investors now that the first month online if over and done with. Well, he knows best as his previous program with the same name lasted for many months. The last two results from yesterday and today are republished below:
“Daily Result: +3.19% for JPDaily
Todays result has been announced!
Check your balances and request your withdrawals!
Daily Report: http://jp-daily.com/forum/YaBB.pl?num=1312481193
Investor Balances: http://jp-daily.com/investors.htm
Referral Stats: http://jp-daily.com/referrals.htm
Another long but good day!
And i’ve been thinking, we’re working with a reasonable amount of money now. I think it’s time to start trimming the fat from the admin side of things. So on Monday I’m going to raise the minimum investment to $20. And automatically cashout anybody who’s balance is under that.
Then once we reach $50k-100k in total capital. I think i’ll raise the minimum again to $50 or $100. Not sure yet. But I want to keep the numbers under control, with a preference for actual investors, over those whiney hyip, nickel and dime idiots.
And for all the poor people out there, i’ll have a solution to show you in 2 or 3 weeks. It’s not ready yet though! Stay tuned.
“Daily Result: +4.98% for JPDaily
Todays result has been announced!
Check your balances and request your withdrawals!
Daily Report: http://jp-daily.com/forum/YaBB.pl?num=1312566693
Investor Balances: http://jp-daily.com/investors.htm
Referral Stats: http://jp-daily.com/referrals.htm
Cool, we’re rocketing along. This is fun!
And just a reminder, from Monday im raising the minimum investment amount to $20. And over one or two days i’ll be auto-cashing out all the tiny accounts under that new minimum. But nothing you need to concern yourself with – no action is required on your behalf.
Other than that – we’re all set!
As you might remember in yesterday’s news I reported about the end of the $2 bonus promotion for the new members of ComoditiesCapital (reviewed here) who became fans on the Facebook page of the program. According to the admin the contest was a success and therefore it was decided to make another one which will run for the next seven days rewarding the best support on the main public forums with a $5 deposit bonus. To find out more please read the following email from the admin of the program James:
“Promotion over and new contest
As you may found out already from our Facebook wall, our promotion with free bonus is over.
It was such a success that we thought to continue to encourage people to join us and we decided to start a contest now. The best supporter of ours on forums will win daily 5$ deposit bonus. Contest will last for a week. So starting from now and till next Thursday our best supporter on forums will daily win 5$ deposit bonus. Every day another best supporter will win so more chances for everybody.
Here is what you need to do for registering in our contest:
First you need to email us your username from forums and also your username from our site, so we can check your support on forums the whole week. Daily we will choose the best supporter from that day who will win 5$ deposit bonus. Our topic on forums can be found in our rate us area but anyway i will give them to you here too:
The more you will support us there, the more chances you will have to win. If you have any question about this contest you can use our support area or post on our wall on Facebook:
Enjoy and Good Luck to everybody!
Regards, James. CommoditiesCapital”.
The following programs paid me for the last 48 hours and are listed as Paying on my monitoring page:
GorgonProjectInvest, SeriousInvestors, ReProFinance, SafeDepositary, VivaTrade, UnitrustDirect, StraDox, EarnGroups, SpringPoints, Opulentia, SilverPinePartners, BrantonsGroup, HitNRunMasters, ComoditiesCapital, HyperCompound, MirexGroup, PowerfulStrategy, MaxiEarn, TopsFund, OnlineInvestmentBank, NeoProgress, EurexTrade, PermanentProfit, BaseBucks, HotInvesting, SecureEarn, UnicornInv, GlobalFxTrades and LibertyHoard.
That’s it I think for today, guys. I hope you all have a good weekend but still make a little time for MNO. See you soon, everyone!