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Good Day Everyone! Mainly not too encouraging news publication can be seen appearing today on one of the industry’s favorites Roaylty7. On the positive side, some additional technical modifications are made to support the handling of exceptionally large user base of the program. However, this probably is not the part of this latest update which concerns most program participants. A number of reports regarding unusually long payout processing times have appeared recently in the media, including HYIPBlogger.com. To this end and to address growing public’s concerns over payout delays, administration of the program issued the update, which I am quoting below in full, followed by additional comments:
Recently we had few upgrades done on our site platform helping us maintain the exponential growth in traffic.
We have optimized our data base, secured better hardware and upgraded our SSL from $250,000 into $500,000.
We have reinstated the new EV SSL that provides higher level of performance and security for our members.
Thanks to those new additions and in light of the demand, we have increased our maximum up to $500,000.
We are also planning to increase our minimum to invest at our Anniversary (11.11.2012) from $25 into $50.
Until then we are honoring the $25 minimum for any e-currency investment, and $500 for direct bank wire.
Last news are a bit less fortunate, we are facing 2 issues with our API (that allowed for quick payments).
The first with SolidTrustPay, their server was undergoing some upgrade and now their API is not working.
The second being LibertyReserve which apparently slow down by 2 times from their usual response time.
These issues have changed our average processing time all across the board and we need more resources.
Until then, I would like to share that we are getting buried in tickets now and we can not answer as fast.
We are now completing half the withdrawal requests manually and are looking to hire more support staff.
We are convinced that most of it would be resolved by weekend and will enable us to regain our position.
Furthermore, please make sure that your payment information was entered correctly to avoid any delays.
Please bear in mind our withdrawal policy clearly states up to 48 business hours, that may reach 7 days!
Finally I would like to clear the concerns that our USA members seems to have for Payza & SolidTrustPay:
They have no intentions of shutting down their operations, they were pretty much prepared for all of this.
They have both promised us that USA will remain in the picture & USA residents can rest assured of this.
As it always happens in the HYIP industry, people are naturally becoming overly concerned whenever any program starts delaying payouts, fearing that such action can be an indication of program failure. This is in fact something that for sure crosses the minds of many Royalty7 members these days. However at this point in time, I believe that like no other, this program deserves a good benefit of doubt and given a chance to recover. According to the above update, there are some technical issues on the side of payment processors and the fact is, program’s terms of service have been so far honored by its administration. Hopefully and as it was mentioned in the update, the payout issues will get resolved by the end of this week and will continue in accordance with program’s “terms of service”.
I also wanted to clarify what exactly could mean mentioned in the update current need for the administration to adhere to its “terms of service” regarding payouts schedule. Basically, the rules state that payouts can be processed as late as 48 business hours after they have been requested. With program’s working schedule in mind (Monday to Friday and Working Hours: 8:30AM – 6:00PM), the maximum time frame can indeed come to about one week. Basically, to count working/business hours, one has to allocate 9.5 hours of one single working day toward the total of 48 hours. Thus, a total of 47.5 hours will pass after the 5 working days of each week and it means that each requested payout may well include the weekend days in waiting time.
July 1st, 2012 Update: Please beware of fake (spoof) emails coming supposedly from Royalty7 that offer some short term plans!. These are NOT sent by Royalty7 administration and you should NOT click on any web links in such emails. The subject of such fake emails may read “Royalty7.com Note: New offer“, or similar. Disregard these emails and delete them from your email inbox.
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