How far do you have to pump (feet) and through what diameter hose will it be pumped through? For a simple water transfer pump, this will probably work ok. However, keep in mind that these cheaper Chinese imports generally do not have any warranties and are NOT UL listed. Also, the float switch used on the pump may give you an issue once the water level dips down below the top of the pump. Meaning, you may not be able to fully drain your storage tank (float switch will turn off the pump in a typical "low water level" installation).
Granted, you cant beat that price but there are a lot of other better quality pumps that are proven. Something like a Danner Mag-Drive pump is what is typically used for this application:
http://www.aquaticeco.com/subcategor...ag-Drive-Pumps
Which one I could recommend is going to depend on my first question(s) and how much water you want to move in a given time frame.
-Ryan