Alertpay - Bad for hyip industry?

Hello everyone, today I would like to discuss something very important. Many hyip investors prefer Alertpay just because they think they can get back their investment through transaction dispute in case an investment program scams before they get in the profit zone. But is it really the case or it is just a fake hope?

ALERTPAY TRANSACTION DISPUTE

I have been watching this over a long period of time and it is really true that Alertpay does not pay refunds in most cases. They send a standard email saying “After examining this specific case and the seller’s Terms of Service, the Resolutions Department has decided that your claim is justified; However, our recovery efforts have not been successful. We are still working on recovering the funds. If successful, we will contact you and attempt to provide you with a refund. At this point the seller’s account does not contain sufficient funds to give you a refund.” So where does all this blocked money go? I know you are smart enough to know that it fills up Alertpay’s pocket.

I do not understand the use of Alertpay transaction dispute at all. A person before scamming won’t be leaving any money in his/her account. And so once they scam and you file a transaction dispute then definitely you will get the same response as quoted above. In nutshell, you won’t be getting your money back! Many new investors join high yield investment program’s thinking that if they will invest using Alertpay then they will be able to recover their investment in case a program turn scam. I will say that it is totally a fake hope nothing else!

ALERTPAY BLOCKING HYIP ACCOUNTS WITHOUT REASONS

A long time ago from an inside source I got to know that Alertpay block certain percentage of funds of a program. At that time I was told that the percentage is generally around 10% but we saw the administration of CreditProgramBank (a good program paying its investors) revealed in their newsletter that Alertpay kept on blocking 35% of the investments. Yesterday Alertpay blocked CreditProgramBank’s funds completely. The program does have a sensible administration behind it and that is why they are still going on whereas in the past many programs closed their doors due to blocking of funds by Alertpay. If they have closed the door who would have been the sufferer? Of course “WE” the “INVESTORS“.

Below is a part of the recent newsletter sent by the administration of CreditProgramBank -

Dear clients! With 2012,03,09 CREDIT PROGRAM BANK officially stops with work the payment system alertpay.com. Due to the fact that the system www.alertpay.com has blocked Account with all activities. From the moment we started working with this payment system, they automatically blocked 35% of all incoming funds. Today, 9 March 2012 have been blocked by all means! Without giving a reason!

Alertpay does block certain percentage of funds with every other program out there or may be for every program. The question is why so? what is the benefit? May be this is their excuse to charge commission from hyip admins for running such a program. But who is the ultimate sufferer? Of course it is “WE” the “INVESTORS“!

Alertpay block accounts of HYI programs but do they really refund investors? The answer is NO! I tell you, it is only in the rare case they do provide refunds just when they feel their market is going down. This is the hard fact that I think you should know about. Not only this once Alertpay blocks account of a program, their administration program in most cases goes down leading to loss for investors.

Crux of the discussion -

Funds blocked out but who is benefited from it? Only ALERTPAY.

Reason for account blocking? Only Alertpay knows, NOT EVEN SHARED with the account holder.

Any benefit of transaction dispute for investors? In most cases NO!

Who loses? Of course we the INVESTORS.

So is there any benefit of using Alertpay? I think NO!

Blocking of funds is not only limited to hyip’s but I have also heard that many other websites face the same blockages. Those websites didn’t even break a single rule but still their account was blocked!

In the end, I just want to say that I won’t be supporting such a processor and that it is better to use e-currencies such as Liberty Reserve or Perfect Money because -

They do not block funds leading to the collapse of a program
Most importantly they do not give false hope of returning your money back.
They do not charge heavy fees as Alertpay does.
People who invest using Liberty Reserve or Perfect Money know that they are gambling which is the right way.

So what do you say? Will you support Alertpay for this industry? Do you think the other way?