Recently we have started receiving emails from our readers who have deposits in MGFunds project (mgfunds.com). They report that their withdrawal requests are pending and ask to investigate this case. Well, it is clear that this project has some cashflow issues, however it does not break its TOS, so let’s try to figure out what’s going on.
When you open an account in some program, you should always pay attention to its terms of service and FAQ section. If you visit a FAQ page at MGFunds you will see the following answer to a question: “When will my withdrawal request be processed?”: “Your requests will be accomplished asap, and within 48 business hours. Please be patient. Business Days are: Monday to Friday (excluding holidays); Working Hours: 8:30AM - 6:00PM.”
By simple mathematical calculation we can determine that MGFunds works nine and a half hours a day which means that it may take five business days to process your payment (48 business hours / 9.5 = 5 business days) which makes a full calendar week. So, you should make calculations basing on your particular situation and see for yourselves whether MGFunds is delaying your payments before posting alerts on forums.
Of course, the situation is unpleasant and does not help maintain popularity of the project, but this is a good lesson for all investors who do not pay attention to the rules before making a deposit. BTW, we contacted Mark regarding the current situation and informed about our readers who report that there payments are delayed. Here is his response:
“We did have few users with pending that wasn't properly registered or users with AlertPay investment who have to wait a bit longer now because AlertPay keeps reversing random investments. Anyhow each to his own case, and we can handle each separately. Please refer this user/s to our support.”
So if you have any issues, Mark is ready to help you.