• Report: #716158

Complaint Review: Monsterpay (Setcom)

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Mon, April 11, 2011
  • Updated: Tue, April 12, 2011

  • Reported By: hcollette — Villar del arzobispo Nationwide Spain
Monsterpay (Setcom)
P.O. Box 5803, Rivona, GP 2128 South Africa Internet United States of America

Monsterpay (Setcom) Monster Pay fraud scam online payment gateway based in South Africa alternative to paypal Rivona, Internet

*Author of original report: Monsterpay, can you answer this?

*UPDATE Employee: MonsterPay Response

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I have signed up with monsterpay to try an alternative from Paypal. What a mistake I did. Their terms and condition will not tell you what is going on, for instance if to please a customer based in South Africa, you must know that this money will remain with Monsterpay and you will never see a cent of it if you live outside South Africa. I think it would be sensible for them to tell you that , no?

So basically the money I have received in South African rand, is gone and lost to the Monsterpay bank. Nice from someone claiming that you can send and receive money in over 200 countries!

Now because obviously this is not an outcome I am happy with, I complained to their services and Laura Cefferty which I believe must be some kind of manager, but clearly a useless one, as she did matters worse but also preventing me to take my funds in US Dollars (search youtube by typing monsterpay to see the proof of it)

I am now on a quest to ensure no one else will have their money simply stolen by either Laura Cefferty or Monsterpay. People MUST know the truth, pass it on!

This report was posted on Ripoff Report on 04/11/2011 03:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Monsterpay-Setcom/internet/Monsterpay-Setcom-Monster-Pay-fraud-scam-online-payment-gateway-based-in-South-Africa-al-716158. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Monsterpay (Setcom)

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Monsterpay, can you answer this?

AUTHOR: hcollette - (Spain)

It is not possible to withdraw South African funds on an overseas account:
It would be nice to advise your client of this, no? Your site clearly states that you can receive and send payment in over 200 countries... well I am afraid this is far from true. If I knew this, clearly I would not have accepted a payment in ZAR.

South African foreign exchange control prohibits us from transferring
ZAR into a foreign currency without permission from the South African
Reserve Bank:

For your information, I did contact the South African Reserve Bank, but I am still awaiting a reply.

MonsterPay is a reputable company:
If you were, we would not be having this problem, or conversation would we?

We operate by the book and will certainly not overstep the bounds set by South African, or any other countrys legislature:
On checking "whois" on the internet, Setcom, yes is based in South Africa, but Monsterpay is based in the Isle of Man. I have signed up with Monsterpay, not Setcom, therefore my money should be in the UK. Can you explain why my funds are in South Africa?

MonsterPay is not by any means refusing to pay your funds over to you:
Can you again (I have asked several times) why you have blocked my account then? the picture I have included on that complaint clearly shows that I cannot withdraw funds, this also includes my USD.

We would gladly transfer the full amount to a South African bank account belonging to one of your friends or family members:
Basically you are telling me that the fruit of my sale will go for some kind of charity, as I have no friends or family in South Africa. Your clients DESERVE the right to know this. Here it is a small amount, but if someone where to sell something more valuable, their funds would be gone.

We find your unscrupulous efforts to harass, slander and extort MonsterPay and our employees to be completely unethical:
I am very sorry to come across that way, but you are the unethical one. I have done my bit, I have sold an item, despatched the item at my cost, customer has paid you for the goods, you have taken your fees and now you refuse to give me the balance... Who is unethical?

and all you have done so far is;


  1. Do not disclose fully your terms of receiving payment in different currencies


  2. lie to your client about sending and receiving payment in over 200 countries


  3. Block my account


  4. hold my funds (even the USD)

I am fighting for my right to get hold of my money, and I am very mad about it just as anyone would be. All I want and I repeat it again is MY money. This is not yours! It is a small amount but is the principle of the matter. If you do the same to couple of thousands of your clients, this represents a tidy sum of money on your account.

We are in fact in the process of laying charges against you with Interpol:
Thank you for letting me know, but you should be aware, that I have done it already 2 days ago against you. I don't owe you anything, however the same cannot be said for you.


Despite our extensive efforts to find a satisfactory resolution:
I have the email in front of me stating that there is nothing you can do and that unfortunately your hands are tied. Is this what you call "extensive efforts"?

You refuse to cooperate:
I refuse to cooperate? that is a good one! cooperate about giving my money to someone in South Africa as an early bonus Christmas gift? My money is my money, sorry if I do not want to cooperate in leaving that amount on your account or giving it to someone in South Africa. You have not disclosed this on your site, this is your fault, your problem, you fix it.

From a comment on Youtube "You are seeking legal action":

that is nice, you had a client that gave you business, all fees paid, referred you to many other clients, and you refuse to give him what's his and on top threaten legal action. Unbelievable! I just hope your clients or potential clients are reading this.

Now Monsterpay, this is my answer to you, now can you answer me?



  1. Can you explain to the World out there, why you are holding my USD funds?


  2. Why can you not give me a payment in USD (for the equivalent in Rands) and take these Rands as a fee, so that the matter is closed?


  3. Why your terms and conditions are not up to date if you are so reputable.


  4. Why telling your clients you can receive USD, GBP, ZAR and EUR, when in fact you can only deal with USD and ZAR. (I still have the email from one of your reps)


  5. Why the person that responded to this report did not leave his/her name and position in the company?
This matter could have been closed a long time ago, but you have decided that it will take this path. If this is happening to me, this means it can happen to many other people, so I am standing my ground on letting people know what you are about.

If you wish me to revise my statements to something positive, remove video on Youtube etc... about the truth being told, I suggest you find a solution. I know it isn't nice to be broadcasted, but all I am telling is the truth and I have nothing to hide. This cannot be said about you. We are in democracy with freedom of speech, and I will use that right to a very large extent to ensure clients, or future clients are aware of what is going on before they sign up and kiss their money goodbye.

When there is a will there is a way, just find a way!
Respond to this report!
What's this?

#2 UPDATE Employee

MonsterPay Response

AUTHOR: MonsterPay - (South Africa)

Dear Mr. Collette (hcollette)

We would like reiterate our position with regards to your inquiry:

South African foreign exchange control prohibits us from transferring ZAR into a foreign currency without permission from the South African Reserve Bank. By demanding that MonsterPay transfer the 300.00 ZAR which currently reflects (and will continue to reflect) in your MonsterPay account to your overseas bank account, you are effectively requesting that we break the law. MonsterPay is a reputable company, trusted by over 100,000 clients worldwide. We operate by the book and will certainly not overstep the bounds set by South African, or any other countrys legislature.

MonsterPay is not by any means refusing to pay your funds over to you. When you opened an account with MonsterPay you were a South African resident. As weve stated before, we would gladly transfer the full amount to a South African bank account belonging to one of your friends or family members. You could then make further arrangements with regards to legally transferring the funds to your overseas bank account.

We find your unscrupulous efforts to harass, slander and extort MonsterPay and our employees to be completely unethical. We refer to your correspondence to MonsterPay on 08/04/2011:

...if I do not have my money in USD on my account by sunday the 10th April, I will send you a Paypal payment request of a 1000 Euro for compensation. If not paid, the next week it will increase by yet another 1000 Euro and the payment request will be modified accordingly.

Of course I will continue my pursuit of blaming and shaming you for what you are not telling your customers, via Youtube, Twitter, Facebook, email all my monster pay customer database to advise them of this and ask them to consider closing their account, email my contacts to newspapers, such
as the natal witness, the echo , etc, etc..."

We would like to inform you that harassment, defamation and extortion are considered criminal offences internationally, and we are in fact in the process of laying charges against you with Interpol on these grounds.

We feel that the deterioration of the situation is regretful and unfortunate, but despite our extensive efforts to find a satisfactory resolution, you refuse to cooperate. We have remained calm
and professional throughout your tirade against us, and will continue to do so.

MonsterPay would like to invite anyone interested in corroborating Mr Colettes claims to please feel free to contact us.

Source(s):
www.monsterpay.com
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory