Web Hosting Talk : Web Hosting Main Forums : Ecommerce Hosting & Discussion : StormPay users, please answer..

[Nilomedia]

Hello,

I've got a client who can pay me only via StormPay account. So I've got to ask, what's stormpay? never heard of it..

I guessed it's www.stormpay.com, looks like a PayPal clone...
guys, can you tell me how easy is it to open an account?

Also, how to receive a payment from my client with this?
and is it any problem to withdraw the total funds? how long does it take?.. kinda, you can guess what are my questions

Is it safe and quick enough? Time and fees are the most important factors.

Looking forward to get answer from a stormpay user.
Thank you in advance guys,

Best.

[cavalry]

Columbus is using it, he said Stormpay is very reliable. But the fee is not cheap. To me, I think one of the advantageous of Stormpay is they accept money order from the US.

Anyway, I think I am going to sign-up Stormpay soon.

Good luck!

[InterVertex]

The fees are enormous for StormPay

Standard Rate: 6.9% plus 69 cents per transaction

It looks good to me, but damn, that's a lot per transaction you're receiving.

[Nilomedia]

Ok guys, for receiving $400.. how much fees are calculated on this payment?

[Nilomedia]

I understand that it's 7% but the client claims that its more than this.

Anyway, how can I withdraw the funds (non-US account) after receiving payment? and is there any limit on withdrawal?

Thanks!

[columbus]

Nilomedia,

We use StormPay as our backup payment processor.

The signup process is simple, and ease of use and reliabiity, trust etc. is good. Only problem are the fees they charge. That's why we only use them as backup.

When your customer's signup an account to pay you, you also receive commission back on the sale amount. But the commission back is very low.

For example, on a $220 sale, we paid $15.87 to StormPay, and StormPay gave us back $0.71 because it was a new customer who signed up to use their account. As you can see, the fees aren't the best nor incentive to signup customers. You will also receive future fees from payments those customers that signed up when they use StormPay next time with another merchant etc.

Withdraw Funds:
Check (Cheque) by mail: FREE
Direct Deposit (US Customers): FREE
Bank Wire Transfer (US and International): $20

• Check
Request a check withdrawal from your StormPay account.
• Direct Deposit (U.S. Banks Only)
Withdraw funds from your StormPay account to your U.S. Checking account.
• Bank Wire Transfer
Withdraw funds from your StormPay account to your bank account by wire transfer. (Recommended for non-US members)

No limit on withdrawals.

[Nilomedia]

Thanks columbus for the details!

I'd like to accept a check payment. but how they deliver it? and is there anyway to track my check? also where should I withdraw this paper check?

[columbus]

Hello Nilomedia,

They will deliver the check by the postal system - probably registered post. Take the check to your local bank to deposit the funds. If you aren't in the USA, it can take up to 21 days to clear, and there is a high possibility that your local bank will charge you fees to cash the check.

Ask your local bank what are their fees for cashing a US check.

Cheers,
Columbus.

[Nilomedia]

Long story, hm thanks columbus very much!

[Nilomedia]

I'd rather have someone who can accept these funds to his StormPay account. and Pay me regulary the amount by credit card (after removing the transfer fees). I just can't withdraw the funds in my stormpay, but I can use them. Anyone helps?

[boonchuan]

I went to Stormpay site, it seems they have quite a lot of security features, how effective are these in preventing charge backs?

[Nilomedia]

Yes, too much hassle to use as a merchant account. I received personal payment only in my account. Ofcourse I'm not willing to use it for CC processing. Just in case, with existing relationship parties who wish to pay using stormpay.

However, my funds are stuck with them, I'm looking for a certified account.

[Nilomedia]

Thanks everyone, columbus have helped me greatly! I appreciated this.