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PaySat Is Just As Bad As PayPal

Writer Wishes To Remain Anonymous

Just to let you know Paysat is just as bad as Paypal. Please, share my story with this community in order to prevent other Paypal victims from signing up at Paysat.



Dear Sir, Madam,

First I like you to know that I have spoken on 17 june (through your live support) with one of your employees about the money transfer. Your employee confirmed TWICE (!!!) that you should send the money for period june 1 – june 15 to me that day!

If you wish, I can send you a copy of the conversation (I kept the printer friendly version of this conversation).

On monday I received an email regarding a delay of my wire transfer.

Because of that email I have contacted you again through your live support and now I was told that your company did receive the new regulations on june 18. And your employee told me this morning the new regulations are valid as from june 1. But that’s not true!


After contacting my creditcard company this morning, regarding the new regulations, I was told:

There have been numerous reported instances in the news of late documenting credit card theft from online merchants. In order to reduce this activity, Visa and Mastercard plan to require all merchants to be tested by an approved security company to meet the new Payment Card Industry (PCI) web site security standard. The tentative deadline for meeting this requirement is June 30, 2005.

Merchants not tested and certified to be compliant with the PCI standard by June 30th risk fines and loss of the ability to accept credit card payments.


Once again, the regulations are meant for companies to processes or transmits cardholder data in a safe and secure way (meeting the PCI rules). That means there’s not a single reason to place a hold on the latest (or any other) money transfer. And keeping my money over 6 weeks in your wallet is insane and has nothing to do with the new regulations.

I feel sorry to aware that I can not trust your company and your employees.┬áIt may be clear I do NOT accept further delay and I urge you to send the money for preiod june 1 – June 15 to me within the next 24 hours.

If you do not send the money I will ask my lawyer to take all necessary steps in order to solve this issue. It me be obvious that you will be held responsible and liable for any (financial) loss and damage that may arise directly or indirectly from not sending my payment.

Meanwhile, I do not accept payments any longer through your system, because I lost all my faith and convidence in you.

I feel sorry for this, but you leave me no other choice.



Posted: May 7, 2012 at 11:06 am

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