StormPay Closing?

[imported_Adam]

It has been alleged that StormPay's credit card merchant account has been suspended as a result of accepting payment for merchants who provide products and services that are questionable under that bank's policies and as a result it has caused an alleged "run on the bank" with StormPay unable to payout tens of millions owed on pending withdrawls.

It has been further alleged that they have been freezing accounts on obscure and possibly non-existant TOS violations in order to try to stop this "run on the bank." More serious allegeations go as far as to claim that StormPay was seen moving their office into UHAUL trucks just a couple days ago.

The general concensus among members is that any funds currently in StormPay accounts will not actually materialize if one attempts to withdraw.

None of this is confirmed to be proof, it is very clear that something very unsettling is going on over there as they've turned off the ability to fund accounts via credit card and canceled recent transactions funded by credit card.

For more information see: http://www.webhostingtalk.com/showthread.php?t=484006

At least there is PayPal!

From,
Adam

 

[SSX/Bruzen]

Yea, somthing is going wrong with SP. I lost alot of money from them Which is one reason why i just created an account today for 2CO.

 

[RackFleet]

More serious allegeations go as far as to claim that StormPay was seen moving their office into UHAUL trucks just a couple days ago.

Wow, our offices are about 45 mins away from Stormpay's (Clarksville, TN) Maybe I should make a quick road trip tonight. Our stormpay funds are not available now. Maybe I should ask them to pay me in cash? *sighs*

 

[SSX/Bruzen]

Wow, our offices are about 45 mins away from Stormpay's (Clarksville, TN) Maybe I should make a quick road trip tonight. Our stormpay funds are not available now. Maybe I should ask them to pay me in cash? *sighs*

lol... I wish I had the time to go there... otherwise....... (Lets just say i would not want to be them right now)

 

[eleven]

rackfleet did you make that road-trip, I've heard many horror stories about these guys its not good,

 

[Corey Bryant]

Any third party processor runs this risk unfortunately if they do not monitor thier clients. StormPay was like this as well as Ikobo.

If you are in the United States / Canada and doing more than $1,000 a month, a merchant account is usually better for you in the long run.

 

[Dexxa]

I used to use them

But i use www.pppay.com and www.paypal.com now

 

[TSExperts]

I used to use them

But i use www.pppay.com and www.paypal.com now

never heard of pppay.com who are they?

 

[Dexxa]

pppay.com are with an auction site called ebid

 

[Dactyl]

SP is probably the worst 3rd party CC processor you could ever use, it didnt take me long to stop using them, I always get the feeling of a shady operation everytime I visit their website.
I've heard lots of horror stories about them, and one of those stories happened with a friend of mine, so I believe them, STAY AWAY from SP!

 

[mtajim]

Stormpay has always been in news for its illegal deeds. once there were issues with 12dailysurf site now this new scandal. I guess strompay should be names scampay

 

[AlEast]

Seems they are pushing more to be an auction site now.

 

[mtajim]

strompay has been in controversy for long now. They freezed its users account at the time 12dailysurf problme and now this new problem. its seems theres always going to be problem with them

 

[geline]

Stormpay started to hit the internet by storm since late last year and I am one of the victims and if they close, I would say that good for them coz they deserve to disappear in this industry coz if they keep on staying, then more people might be victims, especially those who haven't known anything about them yet. Yes, we've lost but we can't do anything about it and the least we can do is prevent another happening that would victimize others.

 

[madhatter]

i use bidpay.com and moneybookers firepay and neteller.com are also good i am hoping neteller hooks up with ebay.

 

[bra]

Paypal? *cough*
Yes, I don't know about storm pay and I don't think I've had an account there unless it was to pay for some Ebay or Web services online. And that would have been more than a couple of years ago.

I've recently been advised to check on Net Teller and Ewallet. I did Google Ewallet and it took me to a site called Cash To Cash, I'm guessing it was the right place, but I've saved that for later.

Using Pay Pal recently I tried to "donate" to my free forum host company and for some reason I could not figure out how to send the money and get the dang shipping and handling removed from it. I mean, no body was going to be delivering anything!

Well this didnt work so I looked for the merchant's email addy and thought I'd send the donation that way. The money wasnt picked up and after a couple of weeks and several letters from Paypal informing me that the money was unclaimed, I winded up cancelling the transaction.

I guess there is a limit on some accounts on how many emails addresses you can have affiliated to your account and in this particular case, the merchant's email was not on his list. I don't know how that is possible. eeks! Pay pal ...... um thanks

 

[HC-Sam]

I have never used stormpay either. I have always preferred cdgcommerce.

 

[bobchrist]

We never used them, I think you can find an alternate payment processor here; http://electronic-payments.co.uk/product_data.jsp

 

[wsac]

I got a account with them long time but I dont use it