Quote:
Originally Posted by Tubevideditor
Excuse my dumbness, but what does an 'EUR IBAN account' allow me to do?
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?There are naive questions, tedious questions, ill-phrased questions, questions put after inadequate self-criticism. But every question is a cry to understand the world. There is no such thing as a dumb question.?
― Carl Sagan, The Demon-Haunted World: Science as a Candle in the Dark
An EUR IBAN is essentially an EUR currency bank account.
https://en.wikipedia.org/wiki/Intern...Account_Number
With an EUR IBAN included in your Paxum account you can now receive payments to your EUR IBAN, and those payments will credit to your Paxum account.
For example, if you're working with an EU based company that will only issue payments via SEPA, then you will need an EUR IBAN in order to receive those payments.
With this new Paxum integration you can now accept payments to your EUR IBAN from external companies (no Paxum account is required for the sender) and the funds will be automatically deposited to your Paxum EUR account balance. From there you can then withdraw from the system by EFT or Wire to your bank account, make purchases from other Paxum account-holders, or convert the funds from EUR to USD and transfer those funds to your Paxum Payroll card (if you have one) for immediate use.
Having an EUR IBAN to use inside your Paxum account can consolidate your EUR payments into one user-friendly location to help reduce the burden of payment management as well as reducing fees (since you can withdraw all funds at once rather than paying fees for each individual payment).