Monsterpay (Setcom) steals your money, see proof!

Monsterpay (setcom) is a fraudulent company based in South Africa. They claim to be a Paypal alternative, but in fact hide many things to their clients as I unfortunately had to discover at my cost. They will steal your money without any shame. Worst of all there are no organisation that you can even complain to. I really want to pass on the message, so you guys don't get fooled as I did. South Africa is beating Nigeria in scams!

Category:

Nonprofits & Activism

Tags:

• monsterpay
• monster
• pay
• setcom
• fraud
• fraudulent
• paypal
• alternative
• south
• africa
• payment
• gateway
• avoid
• theft
• laura
• cafferty
• lie
• cheat
• security
• breach interpol
• online
• bank
• laurac@setcom.com

[hcollette]

I make accusations because to this date, they still hold my funds!! over a year later, minus of course countless fees that are regularly added to diminish the total amount, so they can take me on a law suit if they want to. I had no such problems with Paypal. They advise ANYONE that they can accept many currencies, but in fact if you accept a payment in Rands, you basically kiss goobye to your funds unless you have a South African bank account. Check their terms and see if it is in it!

[adsonygmailcom]

Hey stupid! Anyone that's been to South Africa knows there's exchange control. What this means is that you CANNOT freely convert Rands to another currency unless you have permission from the Reserve Bank of SA. Do you have written permission from the Reserve Bank? NO!! So what's your problem? You bad mouthing someone who will not break the law for you. That's just wrong!

[hcollette]

@adsonygmailcom It would nice for Monsterpay to advise his/her clients of that no? If you were to receive a very large amount in Rands then what? at least with Paypal, there are no nonsense like that. Up to this day my funds are still blocked with them (Rands and USD) and top it all once in a while they add rubbish charges so that the amount can vanish. For your info I did contact the Reserve bank, but as all staff in S.A they cannot be bothered to reply or do anything about it

[Zadenzo]

This is nonsense. We've been using MonsterPay for our payments for some time now and have had absolutely no problems at all with them. In fact, they've always been very professional and helpful.

South Africa has laws about taking Rands out of the country when you're not in it. Google it - Blocked Rands. Your money is still in the account, so its still yours? You're basically complaining that MonsterPay won't break the law for you.

This whole video seems like an uninformed rant to me.

[hcollette]

@Zadenzo If this is nonsense,and you are SO clever, can you explain how a company based in the Isle of man, which is part of the United Kingdom, just in case your knowledge does not go that far, would block a payment that I have received in Rands? I am in Europe, I have sent the goods, paid for shipping costs and yet cannot get access to MY money. Mr clever guy, do a WHOIS search on Google regarding Monsterpay and this will confirm what I say.

[ScratchBeatsEnt]

This is totally inappropriate. We at Scratch Beats Entertainment use Monsterpay as our payment gateway and have had no issues what so ever. I know many other people who use Monsterpay as an online payment gateway and they have no issues too. Their are clear laws on moving money over borders and it seems to me that Monsterpay is abiding by the law. I'm reporting this link

[hcollette]

@ScratchBeatsEnt problem is, that Monsterpay is a company in the Isle of Man (type WHOIS on google to verify what I say), NOT SOUTH AFRICA, so why my money is now in South Africa? anyway the Ombudsman Financial services is on their back, they will have to explain that. In any case they have my money and to this date REFUSE to give it to me, so how do you call this... borrowing maybe?

[MonsterPay101]

MonsterPay would like to reiterate our position with regards to Mr. Collette's inquiry:

South African foreign exchange control prohibits us from transferring ZAR into his overseas account. We have by no means "stolen" his funds. Despite our efforts to resolve the situation, Mr. Collette continues to harass and slander MonsterPay and our employees. He was an SA resident when he opened his MonsterPay account, yet he refuses to comply with SA legislature. We are currently pursuing legal action.

[emilemat]

Thats such utter crap. I've used them many times and they work perfectly. I have successfully withdrawn funds every single time. That is a law passed by The Reserve Bank and not Setcom, which is why you need a South African Bank Account. They also happen to have the lowest fees of any other South African Payment Processor. I would be careful about making accusations like that because you may end up with a law suit on your hands if you're not careful, making accusations like that

[hcollette]

@MonsterPay101 Anyone looking at this video can clearly see that all funds are blocked, can you explain that part if you are not stealing my funds, and despite all your efforts to resolve the situation? That I am or was an SA resident has nothing to do with me withdrawing my funds. I advise ALL Monsterpay clients to be very aware of this company as clearly they are not clean as they pretend to be.