Beware! VirtualPayments has stopped paying! Do not invest there!

Hello everyone! One of the most recent additions to MNO that I’m going to examine in closer detail for you this evening is one called VirtualPayments. I had meant to do this last week but for reasons already covered elsewhere on my blog wasn’t able to, but everything seems to be in order now so I guess it’s time to carry on. I have to say though (just in passing) that VirtualPayments seems a pretty strange name for an online HYIP. In fact it sounds a bit more like an online payment processor instead which is especially weird as the program resembles the old version of AlertPay that was in use before they redesigned it (older investors will probably know what I mean). There’s no connection of course, I just mention it as a matter of curiosity.

Anyway, VirtualPayments is a brand new long term investment program that launched just last week. Hopefully they’ll provide a good opportunity to earn a profit over the coming weeks but I have to say that interest rates are probably a little bit high for the program to become a real long term challenger to the big long term programs around now. For now let’s take a closer look at the program’s features and see if you think it might be suitable for you.

We’ll start as usual with the investment plans, and VirtualPayments have three of them. They all run for the same term, make daily interest payments, and return your principal on expiry. Returns as is generally the case will be based on the size of your deposit, those taking the biggest risk and making the larger deposits getting paid the bigger rates. The first of the three plans, called The Starter Plan, runs for 90 calendar days and can be joined for a $7 minimum deposit. In return VirtualPayments are offering a daily interest rate of 3.7% per day. Over the course of the term that will allow you to break even (ie earn back an amount equal to your deposit so you can’t possibly be at a loss after this) in 28 days which is pretty fast considering the term’s full length is 90 days. By the end your payments will amount to 333% before your principal is added to that. Maximum deposit is $699.

It’s worth pointing out by the way that the VirtualPayments homepage suggests you make a profit of 433%. Not exactly. The actual profit is 333%. The additional 100% was your money to begin with and is simply being returned to you. No big deal but worth pointing out as some readers new to the industry might be a bit confused by that.

For the second plan, called The Partner Plan, VirtualPayments require a $700 minimum deposit. Over the course of the 90 calendar day term you can earn 4.7% per day, allowing the investor to break even after 22 days and finish with payments that add up to a total of 423%. At that point VirtualPayments should then add your principal on top of that. Maximum deposit for this plan is $6,999.

And finally for the serious risk takers out there prepared to make a deposit from a $7,000 minimum up to a maximum of $50,000 VirtualPayments offer The VIP Plan. This time the daily interest rate goes to 5.7% for the plan’s 90 calendar day duration, allowing you to break even after 18 days and finish out the term with profits adding up to 513%. Your principal should then be returned.

Payment options are pretty basic and limited to just LibertyReserve or PerfectMoney so remember that all transactions are final and no refunds will be made under any circumstances. Mind you if that encourages more HYIP investors to spend within their means then it’s not such a bad thing. Contrary to claims made on the homepage AlertPay and SolidTrustPay are not currently accepted, though that may only be down to the template being purchased with that already being put there by the designer. VirtualPayments promise speedy payments and sometimes they can be as fast as instant. If not then they are made within a 24 hour timeframe. While I can’t say I’ve gotten an instant payment myself, I can confirm that they’ve been fast and within the promised amount of time so no complaints on that front.

A couple of other quick points I need to point out about the investment plans include that VirtualPayments allow compounding. I wouldn’t be a fan of the practice myself, but it’s just a matter of personal preferences. If you like it then it’s there for you so set the rate yourself. The other thing is that there’s a series of bonuses available to those joining the program between now and December 1st. Depending on what plan you join and how much you spend you can collect interest on anything from an extra 5% to 10% of your principal. Just note that the these bonuses are not applicable to the regular minimum deposits and will require larger investments if you wish to take advantage. See the VirtualPayments home page for further details.

VirtualPayments is running off a licensed GoldCoders script and is hosted on a dedicated server with support and protection by Koddos. The website is fully SSL-secured in both public and members areas. For any customer support or account related issues you can get in touch with the admin by filling in your details on the ticketing form found the contacts page. VirtualPayments also list a postal address and have a live chat feature, though I’ve yet to see it actually working and there’s no information about when if ever there’s going to be an operator there to take your questions.

Other than a description of the plans there’s no real texts on the VirtualPayments website to speak of and no information on what happens to your money after you join. Though I think longer term readers will no doubt take a good guess by now! There’s nothing to suggest that VirtualPayments is anything other than a high risk online HYIP so once you accept that you should know how to behave next – set yourself a modest spending limit, stick to it rigorously, and if participating in the HYIP industry try to keep a diverse portfolio rather than depending too heavily on any one program. I know you’ve heard that before but I’m afraid I’m just going to have to keep repeating it until more people start listening.

DAILY NEWS FROM THE INDUSTRY

Just a few weeks after the loss of its database forced them to start all over again from scratch, PaidJack (reviewed here) seems to be fully recovered and back to Paying status on many monitors. Payouts on the 7% weekly forever plan starting from a $20 minimum have resumed. Till recently only deposits via AlertPay and LibertyReserve were accepted by PaidJack, but now these have now been joined by PerfectMoney as reported in today’s lengthy newsletter. Also the admin announced that PaidJack‘s website is also available in French now which will allow more exposure for international members of the program seeking a long-term opportunity like this program provides. The admin of PaidJack is most likely also aware that he could easily close his program after the database was lost like most other admins would but didn’t do so as the potential of the program is very high and he is probably confident of its bright future. He took all the necessary measures to protect the PaidJack website from similar database issues in the future. Unfortunately, it looks like there is a lot of competitors to the project trying to DDoS it, causing occasional downtime. It’s good to see that the admin keeps the situation under tight control and communicates perfectly well explaining everything to investors. We will see what happens with PaidJack in the future, but at the moment it’s definitely one to watch. Here is the full newsletter posted today with all the news:
“PaidJack news 2011-11-06
Dear members,
PaidJack has been online for over 50 days now and we felt that it was necessary to send this newsletter after the recent database problems we had. We lost our database two weeks and we had no information on deposits, withdrawals and referrals in our system but we have now manually fixed deposits and account balances. All information regarding referrals has also been lost, if you had referrals before the cash and you know their usernames and/or e-mails, please e-mail us this list and we will add them to your referral list.
We learned a very important lesson with this issue and our database is now being constantly backed up, preventing us from future problems like this. We strongly apologize for the inconvenience caused but this event will make PaidJack even stronger, most HYIP programs would just close down their page and open a new one if something like this happened but not us, we believe in the future of PaidJack and we are 100% focused on it right now.
Enough with the past, we would like to announce that our site is also available in French now. The Francophone community has been very active on PaidJack and we decided to translate our page so that it could attract even more french speaking members from all over the globe.
Our bonus system is also still active, we are giving away 100 $5 bonus investments for every 1000 registered members in PaidJack, starting from #1001 up to #1100, #2001 up to #2100 and so on. We expect the first bonuses to be sent again within a few weeks.
Another great news is that we have just added PerfectMoney as an option for you to deposit and withdraw your earnings, some members asked for that option and we made it happen. We’ve been receiving several thanksgiving messages through our quick support system, which can be found inside members area right below the header of the page. Please keep using this system to write about anything you want, you can tell us about your past experience with the hyip industry, ideas for our project, to ask for help with your investments or to simply say hi, it’s really pleasant to communicate with our members, it doesn’t matter if you have active investments or not, we are here to help you in your money making journey.
We understand the hyip industry is pretty tight and competitive and the only way to survive it is by providing you a long time extra income. We’re very focused on making the profits we promised and so far the results have been very positive. We’re going to maintain the hard work to make our project a pleasant and profitable experience for all our members and future members. We couldn’t be more satisfied with PaidJack and its members responses so far. Thanks a lot for being a part of our project, I hope this journey has been as good for you as it has been for us.
Khalil Gibran once said “If you cannot work with love but only with distaste, it is better that you should leave your work” and we are proud to say we are working with something we love and know how to do. Leaving modesty a bit a part, we can only see a bright future for PaidJack and its investors.
Wishing you all a pleasant weekend,
Wayne Harvey. PaidJack CEO”.

The admin of BonusPayMe is also hopeful that his program is going to keep paying for a long time which he discussed in the first newsletter marking the first week online for his program. It’s a kinda complicated program but to read more please refer to my detailed review posted here. In a nutshell, BonusPayMe provides investors with instantly processed payouts to LibertyReserve and PerfectMoney on 1%-1.58% on every business day plan with principal back anytime with an instantly credited $50 bonus on registration. The admin of BonusPayMe also thanked members for their support and encouraged questions if they don’t understand something. Here is the latest newsletter in full:
“First week online
Thanks to all investors who have joined to BonusPayMe, we have big plans and Our objective is to consolidate this project in the first place, our best letter of presentation will be a service agile and timely.
BonusPayMe has had great acceptance by the public, we have over 2000 records and a very large number of investments in our first week online, have all the tools necessary to make BonusPayme the best partner for your investment, thanks again to all our users.
Now have the following recommendation.
There are several payments that could not be withdrawn, we recommend our users to verify their LibertyReserve account number, must be written correctly and in the right place many payments have been processed for this reason.
Before joining us please read all the FAQ and RULES that have the program, if you have questions please contact support, they are willing to resolve their doubts thank you very much for your attention, that has good weekend.”

I must warn you about a few complaints received by me from some investors of NeoProgress with pending withdrawals from the program for over 48 hours. In my latest conversation with the admin he promised me payouts would start on Monday. In my opinion that position is kinda weird as it doesn’t explain why investors can’t be paid in manual mode since instant payouts are still disabled. Anyway, I’m ready to give the admin the benefit of the doubt till tomorrow but if payouts do not resume then NeoProgress will be moved to Problem status on MNO. According to previous experience with such HYIPs the probability of this happening is quite high and therefore I would like to advise readers to hold off on investments in NeoProgress till tomorrow when hopefully the payouts will resume. In any case, I will report on any new developments regarding NeoProgress on MNO tomorrow so stay tuned for that, guys!

Two programs – SapaInv and RapyWealth – were moved to Problem status on MNO last night. Despite that I was personally paid all my pending withdrawals from both programs this morning the admin failed to reply to my questions and apparently, only pays selectively to monitors in order to maintain the status for as long as possible. As you might be aware the majority of monitors don’t care much about real investors and will display any program on Paying while they are paid. Your payments however don’t really come into the equation. If you get paid, good for you. If not then that’s your problem, just don’t bother the monitors with this because they just ain’t interested. You can witness this for yourself by checking the monitoring sites that list SapaInv and RapyWealth on Paying status still, despite the many proven complaints. Luckily, MNO always listens to what my readers have to say and adjust the status accordingly. So today I asked on my ShoutBox if anybody was really paid by the above-mentioned programs but received only negative answers. I concluded that the admin of RapyWealth and SapaInv now makes selective payouts. Later I discovered that the admin is using some very dirty tactics now, sending out fake batch numbers for payments that were never actually processed (!). Please do not invest in RapyWealth or SapaInv anymore, as you have no chance of getting paid!

Here is the list of the paying programs from which I was paid for the last 24 hours:
BrantonsGroup, FinMarks, StableProfit, WebCorporate, FreedomReserve, SingInvest, SolidForexLtd, VirtualPayments, TopsFund, OneInv, PokerProfits, ExtraDeposit, AudivaTraders and TradeQ.

That’s all for today, guys. I hope to see you all on my blog tomorrow when I’m going to have a review of ExtraDeposit and all the daily news from the HYIP industry. Stay tuned for more!