Stormpay - The good and the bad. (stormpay.com)

Member Name: wwfc_barmy_army

Product:	stormpay.com
Date:	22/03/06 (588 review reads)
Rating:

Advantages: Quick, easy, secure, fees if NetIBA certified

Disadvantages: Recent 12daily trouble, chargebacks

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What is Stormpay?
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Stormpay is a payment gateway similar to Paypal where you can pay merchants online for items you have purchased.

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What I think
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Recently there have been a lot of bad press against Stormpay mostly written by 12daily scam members, who continue to follow claims that Stormpay took the money. There are two sides to the story and not everything written should be believed.

Early February 2006 Stormpay's server was brought down by DDOS attacks (where people send lots of requests to the server till it overloads) and this continued for a week. This was soon after the trouble with 12daily. A lot of the time the site was unavailable and customers started to worry.

They now seem to be back as they were before, support tickets are now answered quickly.

My experience with Stormpay has been generally good. I received a $700 withdrawal cheque from them this week and have previously received similar cheques, all fine. There have been a number of 'chargebacks' mainly do to with the 12daily trouble over the past month, these are now not happening so frequently and only happened about 5 times to us. Luckily we sell services which can be stopped at any time, but for people sending items would have lost money.


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Fees
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Here are the currently fees:


Open Account: FREE

Send Payments:
From StormPay account balance: FREE
From Credit Card or Bank Account: 3% Processing fee (example: If payment is $5 your card is charged $5.15)

Receive Payments:
Non NetIBA** Certifed: 6.9% plus 69 cents
NetIBA** Certified accounts: 2.9% plus 39 cents

Withdrawals:
Check by mail: FREE
Direct Deposit to U.S. Checking account: FREE
Check by Courier U.S.: $20
Check by Courier Intl.: $35

Auction Listings: FREE

Customer Support: FREE – Stormpay answers all inquiries within 12 hours.

We are NetIBA certified which means that pay a much lower fee, getting NetIBA certified its only $19.99, bargain if you sell a lot of items.

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Withdrawing Money
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Withdrawing money is easy, if you live in the US you can do a bank transfer.

If you withdraw $2500 or more you can use a wire transfer.

Otherwise you need to withdraw a cheque; this is what we need to do. This takes around a week to arrive, most backs will charge a fee for banking a US cheque, but you will need to ask your bank about that.

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Recieving Money
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Simple really, you just get an email saying you've been sent money, just like you would with Paypal.

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Sending Money
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Once again, simple.


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Layout
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Stormpay's layout is quick and easy to navigate, anyone can pick it up.

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Support
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We've had good experience with support and all our support tickets have been answered within 24 hours, some after hours of submitting.

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Stormpay Auctions
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Like Ebay and Paypal, Stormpay and Stormpay Auctions work together and anything purchased through the auctions is paid for with Stormpay. We regularly use Stormpay Auctions, listing items (without extra features) is 100% free unlike eBay!

That about sums it up.

Summary: Not bad. Quick and easy to use.