Quote:
Originally Posted by Thomas007
Paxum do not need to be in business for long before we have saved enough in banking fees for caching checks or receiving wires to cover an eventual loss if they close shop.
Plus we'll also save us for the hassle of checks. It's labor intensive to open the letters and make lists which shall then be mailed to the bank with the checks.
My calculation is that it costs us $8 per check and a rough estimate on $30 per wire (sending and receive fee) to receive money.
I'll calculate with 50 checks and 10 wires per month.
It's $700 saved.
If we withdraw from Paxum via Wire 2 times a month, then the cost for that is about $120 a month.
700 - 120 = 580 saved per month by Paxum.
A year = $6960
Keep your balances low with Paxum, it's not a bank.
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It costs us LESS than 1? to cash a check in our bank and we are EU based. We dug out the bank that charges this little. Other than checks they are good as well. If they increased the price we would get an account another bank only for check cashing purposes. The fact that you let yourself be robbed like that by the bank is your choice entirely. It's a GOOD one only if you like the robbery. Some people like the stress.
