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

Hello everyone! There’s a couple of news stories worth looking at tonight which we’ll get to in the second half of this evening’s update, some curious, some promising, and unfortunately some bad. But before I get to all of that I want to take a closer look at a brand new long term program that’s just been launched called ArgoMoney which you may remember I just introduced on my blog last night. I was quite enthusiastic about it then, and while always cautious about these things – this entire industry is utterly unpredictable, this year as much as ever – I’d still be hoping that if/when there’s a bit more activity in the business come the autumn that ArgoMoney might be in a solid enough position and be seen as a well established program by then. Time will tell, anyway. So before the news section let’s see what ArgoMoney have to offer their investors and what the program’s important features are, and see if you think it might be suitable for you.

Starting as usual with the investment plans, ArgoMoney‘s options consist of what’s basically just the one single plan though this in turn is broken down into four separate sub-sections depending on how much money you are willing to risk – the bigger your deposit the more they are offering you. But to join in the first place you need only a $20 minimum, which is I suppose slightly bigger than the industry average at the moment. For that you are allowed into what’s called The Starter Package which will accept anything up to a $2,500 maximum. The term runs for 95 business days (19 weeks) during which ArgoMoney are offering members a daily payout of 2.8% interest. This will eventually add up to a total of 266% which becomes net profit when ArgoMoney then return your principal on expiry as promised.

For a practical example of how this might play out, let’s say you invested a nice easy figure of $100 here. In return for this, ArgoMoney should pay you back $2.80 for every business day, that’s Monday to Friday, for the next 19 weeks. You reach the break even point on receipt of the 36th from 95 payments, (ie earn back an amount equivalent to your original investment) and so from that point on cannot possibly lose any of your own money. All things going according to plan you should complete the term with $266 in interest payments, at which point ArgoMoney‘s admin promises to add your initial hundred on top of that.

As the remaining three plans will cost you upwards of $2,501 to join I think I’ll just run through them a bit quicker for you as I suspect most of you will not be able afford them anyway. But for whatever’s left of the big spenders out there I will still give you the important figures. For example, ArgoMoney‘s second plan, called The Advanced Package, will accept deposits up to a $5,000 maximum. The term stays fixed at 95 business days during which members are offered a daily payment, Monday to Friday, of 3%. Total payments here should amount to 285% which will be net profit after ArgoMoney return your principal as promised. Maximum spend is $5,000.

Then, starting from $5,001 and up to a $10,000 maximum, is The Premium Package. For the plan’s 95 business day term ArgoMoney are offering a daily interest payment of 3.2% per business day. Total earnings therefore should come to 304% before your principal is then added to that.

ArgoMoney‘s fourth and final plan is called The Royal Package, again running for 95 business days. For a $10,001 minimum deposit you are offered a daily interest payment of 3.5%, adding up to 332.5% by the end and your principal returned on expiry. ArgoMoney have no upper limit on deposits for this plan.

There’s a couple of other things you will need to know about, assuming there’s anything in the list of plans that interests you that is. First of all I suppose is the early withdrawal clause. If 19 weeks seems a bit much for you and you would much rather get out of the program a bit earlier, then ArgoMoney will facilitate you. You may in fact leave the program at any time you like, just keep in mind that an early exit is going to cost you a 40% penalty fee on your deposit. As long as you are prepared to accept this then you may even factor it into your own calculations, and actually join the program with the full intention of leaving early and accepting the reduced profit. It’s really up to you. Another aspect to ArgoMoney‘s plans you might wish to keep in mind is the compounding feature. Longer term readers will know this has never really been something I have encouraged among investors (as a matter of personal choice and not really a reflection on the quality of the HYIPs that make it available), but as it’s your money we are talking about here, not mine, you are allowed to set a compounding rate of anything from zero to 100% when joining the program.

The list of payment options open to you is inclusive of the remaining popular industry providers, with SolidTrustPay, EgoPay, and PerfectMoney all included. After a couple of technical issues to be ironed out, teething problems if you want to call them that, all payments to all three payment processors are now made instantly as promised by ArgoMoney‘s admin. You will still be required to log into your ArgoMoney private members account area and request your payment of course, but once done it should then show up in your preferred processor account in a matter of seconds.

So while the list of payment options is up to a good industry standard, the design and security features to ArgoMoney are equally acceptable. To start with I see the admin has wasted no time in going straight for the best provider in the business that currently accommodate online HYIPs, which is BlockDos. They are keeping the program on a dedicated server with their own support and protection which is pretty much universally acknowledged to be the best option out there for admins and HYIP related projects. Not cheap, but an experienced admin will know that anything less than the best is what’s known as “a false economy”, in other words will only cost you more money in the long run when you go to fix the problems that will inevitably follow when you opt for lower quality service providers. Cutting corners on hosting is simply not a smart thing to do in this business, so it’s encouraging that ArgoMoney have gotten this right from day one. In addition to that the website is also SSL encrypted by Comodo for safer browsing and more secure transactions. The program is running off a script which is under license from GoldCoders, a bit generic perhaps, but as that’s the most popular one in the industry and one most people identify with most easily I guess it makes ArgoMoney more user friendly and easy to navigate, being what the majority of investors are already familiar with. If you have any further questions for the admin or any account related issues you need to have dealt with then you have some good options for getting in touch with ArgoMoney‘s support team. There’s the more traditional ways first of all, either to write directly to the email address that’s listed on their contacts page, or else just fill in your details on the online support form and submit it. More interestingly perhaps is the list of multi-lingual telephone numbers where you can find operators in your choice of English, Russian, Chinese, Indonesian, or Polish. I don’t see any working schedule for when, if ever, you might find an operator there, but you can take that up with the admin if you wish. Fans of social media sites will also find ArgoMoney maintaining a profile on Facebook.

Website content, or more specifically the texts, are a straight copy/paste job and used in a number of older HYIP websites in the past. This is of course quite a common trait and to me only ever indicates a link with a common designer or programmer, but not really the admin who is less likely to have been involved. Not that it’s important (not that much anyway) but it’s just worth mentioning for those new to the online investments world tempted to believe that the HYIPs you find are in some way genuine companies. In the case of ArgoMoney the suggestion is that they are involved with ForEx trading and money management, but like I said the written information is taken from various other websites and therefore highly unlikely to be genuine. No big deal to most of the regular players of course, nothing we didn’t really know already, so for anyone else please don’t treat ArgoMoney as anything other than an online HYIP and a high risk activity with no guarantees. That means don’t ever gamble with more than you can afford to both spend and afford to lose, and if joining ArgoMoney at all then you might want to think about keeping them only as a smaller part of a wider more diverse portfolio. Hopefully though, one that can grow and develop, as long as it’s managed prudently, into one of the next big industry hits by the autumn.

DAILY NEWS FROM THE INDUSTRY

WUNEVASSETS – MOVED TO PROBLEM STATUS! DO NOT INVEST!

Unfortunately, I have to start the news updates for today with a severe warning against any further investments in WunevAssets. The program has now become a scam after paying for about eight weeks, so at least putting the first investors in good profits anyway. The trouble started a few days ago when the admin reported some alleged issues with SolidTrustPay withdrawals and asking members to be patient while she finds a solution. Then last night the admin issued another newsletter offering to exchange funds via a built-in exchanger to your choice of PM or EP. It looks like all the stories were a simple preparation to scam. I’m not really sure now what really happened to WunevAssets‘ STP account that caused the enormous delays but one thing is for sure – the admin is not to be trusted at all. This last trick with exchanging money which was never intended to be paid as proven by today’s pending withdrawals and multiple complaints received from unsatisfied and disappointed investors was just very low, in my opinion. Of course, I contacted the admin as soon as I found out about the pending withdrawals not processed for over 24 hours now, but, as you may imagine, there was no reply whatsoever. We can safely assume then that WunevAssets is a scam now – do not invest there!

FRESHWINDINVESTMENTTRUST – PAYMENT DELAYS DUE TO PERFECTMONEY ACCOUNT ISSUES AND POSSIBLE SOLUTIONS

A somewhat unusual situation arose today in FreshWindInvestmentTrust regarding their PerfectMoney account which had been blocked by PM administration. The reasons for this block were not explained by the admin in the follow-up newsletter that announced the end of all operations (both deposits and withdrawals) in the program. Due to the nature of FreshWindInvestmentTrust which accepts only PerfectMoney (read the full review here) that decision was fully expected, but the candour of the admin in admitting the issue was surprising. Here’s the first newsletter posted by FreshWindInvestmentTrust today:

“The Fund’s activities suspended
Dear investors!
Due to the blocking of the main and reserve accounts of our Fund the activity of FreshWindInvestmentTrust for placement of funds is suspended for an indefinite term from 23.07.2013
Profit accounting and processing of all financial operations on active deposits are also suspended until the problems with the payment Perfect Money system will be resolved.
Ours experts and specialists of finance department make all efforts for current situation settlement.
We ask you to show sympathetic understanding of a problem. Don’t aggravate the situation with unreasonable complaints in payment system.
We hope for your understanding and patience.
Yours faithfully, information support service of FreshWindInvestmentTrust”.

Of course the admission of account issues is one thing, but it didn’t solve anything with outstanding payouts and rejected deposits. That’s why I had no other choice but to move the program to Waiting status on MNO. In a personal email to me the admin promised to resolve the issue with the program’s PerfectMoney account and meanwhile, to keep paying from a so-called reserve fund until the main account is back to normal. Honestly. I didn’t quite expect that was going to work, but to my great amusement, the payouts to PerfectMoney resumed very shortly after the first newsletter was published. A few hours later and the admin posted a second one explaining the rules. It’s a very important update so please read to get a clear understanding of where FreshWindInvestmentTrust currently stands and where it may go from there. After the latest update you can read my comments as well:

“Establishment of limits on withdrawal of cash assets
Dear investors!
For the closest period of time will be established restriction on the volume of performed withdrawal operations.
The maximum sum for withdrawal makes $10 per day.
It is connected with long procedure of restoration the full and lawful access to our main accounts of Fund.
This decision is temporary and will be cancelled immediately after restoration the situation on management of our assets.
We hope, our decision will cause only understanding of you and we will continue the confidential relations with each of you.
Also, for the period of withdrawal restrictions action will be entered the restrictions on reception of investments.
The maximum size of investments will be $1000.
We hope for your support and the fastest resolving of the situation to continue the full-fledged work with you.
Yours faithfully, finance department of FreshWindInvestmentTrust”.

As you can see from that, during the next few days (or at least while the funds in the PerfectMoney account are not released) FreshWindInvestmentTrust will be functioning in a restricted mode with withdrawals capped at a $10 maximum per day only. I believe it’s still better than nothing and will help to alleviate members’ concerns and temporarily ease their frustration. The fact that the admin also temporarily restricted the maximum deposit from $100K to $1K only shows that his intentions are genuine and that the story with the blocked PM account seems more probable now. And the fact that investors received their outstanding payouts today (if it didn’t exceed the $10 maximum that is) speaks volumes and shows the true nature of the program’s administration more than a thousand newsletters. So, I have no issue with keeping FreshWindInvestmentTrust on Paying status on MNO, considering that everything was perfectly explained today and a contingency plan was implemented. I remind you that the full review of FreshWindInvestmentTrust can be found on MNO here. The program has been running successfully for two and a half months now paying on the following investment plans – 0.9% per business day forever (principal back anytime after 10 days), 4%-5% for 35 business days (principal included), 1.4%-2.1% for 75 business days (principal back), 2.3% for 150 business days (principal back). After meeting the payouts even with their main PM account blocked, the administration of FreshWindInvestmentTrust proves that they are serious in their attempts to continue. I have utmost respect for such admins and wish them the best of luck in getting back on track. I’ll keep you updated of course as soon as I hear from the admin, so stay tuned!

SEEDFUNDING – CURRENCY EXCHANGE ENABLED AND DEPOSIT MINIMUM INCREASED

There were two updates posted on the website of SeedFunding for the last couple of days. In the first one an e-currency exchange for members to perform externally by clicking on Currency Manager tab and transfer money between SolidTrustPay, EgoPay, and PerfectMoney with absolutely no fees was introduced. That is quite generous considering that the administration of SeedFunding is charging deposit and withdrawal fees outlined in my detailed review of the project here. According to the admin this service was launched primarily for investors who can’t withdraw referral commissions to SolidTrustPay, as they were paid by EgoPay or PerfectMoney and the money sits there as the minimum withdrawal allowed in the program is $10. It’s explained below:

“Currency exchange is now possible in your backoffices
You asked and we listened.
Most of our members are using STP for their own contributions but receive some introducing fees to egopay. We have been asked to allow internal exchange and you have that extra button in your backoffices now.
Go to CURRENCY MANAGER and exchange your egopay to STP, if you feel it will never be enough to be either cashed out or recontributed, or if you simply do not want to deal with anything but STP.
Exchange rate has been set to zero, so you can do that at no cost.
The minimum amount you can exchange is 50 cents.”

For the second update the minimum to invest in the 1% for 120 business days plan was increased from $10 to $100 which will certainly turn off many investors who prefer to test the waters first before making larger deposits. The admin tried to explain this decision with the necessity to reduce the cost of withdrawals. However considering the practice of placing the payment processor fees on an investor and the already high minimum withdrawal of $10, this cannot be logically explained. If we analyze the two other plans paying 6% weekly for 22 weeks with its starting deposit minimum of $250 and the 30% monthly for 5 months plan with an even higher $500 minimum, we can easily predict that the recent changes will not attract many investors. In any case, it’s not my place to tell the admin how to run his program, but SeedFunding‘s future doesn’t look as bright because of increased restrictions, higher deposit minimums, and higher fees compared to so competing programs with more favorable rates. In my honest opinion, the competition with such popular programs will become even more intense for SeedFunding from now on. Let’s see how it develops and whether this decision will attract more serious investors or put them off. The latest newsletter from SeedFunding in its entirety is below:

“A VERY MUCH NEEDED CHANGE
As of this morning, July 23, we have raised the minimum contribution for our Daily Plan to $100. This affects processor deposits as well as re-contributions.
This decision became necessary when our accounting showed that the hundreds of minimum deposits we received can neither benefit our projects nor the program, and certainly not our contributors.
This is a business and we are determined to treat it as one.
We admit that we were not aware of the effects very small deposits were going to have on either side. It was time to say, lesson learned, and make the necessary adjustments.
The minimum to withdraw to either your E-Wallet or back to your processor remains $10. Nothing changes there.”

GET PAID REPORT FOR 23/07/2013

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: –
From MNO Premium list: MalaysianINC, EmpireFinanceGroup, PureIncome, RFIGroup, LucroBankLimited, Stable6, BlackGold, CatenaFinance, SeedFunding, FreshWindInvestmentTrust, ArgoMoney (the first instant withdrawals received).
From MNO Standard list:  –
From MNO Basic list: InvestmentCapital, GrandCapital, TheInvestmentBank, BCapitalistGroup, InvestAge, OneDollarInvest (the first instant payments received).

That’s it for tonight, guys. Tomorrow I’m most probably taking a day off, but please be assured that if something urgent happens I’ll let you know in some way. And remember to pay attention to status changes on my monitoring page, so check it out carefully before making a deposit into any of the programs listed there. I’ll still be posting however, and you can expect an interview with the admin of Stable6 (first reviewed here). I just received his answers to my questions which were sent over a week ago so will post it tomorrow. Stable6 itself has been online for about two weeks now paying via SolidTrustPay, BitCoin, EgoPay, and PerfectMoney on two investment plans – 6% for 25 days, and 125% after 15 days. If you wish to find out more then tune in tomorrow. Bye for now and see you all then!

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