04-13-2018, 02:55 AM
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Confirmed User
Industry Role:
Join Date: Oct 2011
Posts: 51
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Quote:
Originally Posted by mrsmut
Will money currently on Choice bank card be moved to new card?
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Paxum Statement Regarding Choice Bank
Quote:
Paxum Inc would like to address any concern our clients may feel after the recent news regarding Choice Bank Limited. On April 9th 2018 Choice Bank Limited informed its customers that it has been forced into a constrained position by the regulatory authorities.
Paxum would like to reassure our customers that this is an issue between Choice Bank and its regulatory authorities directly, and it is completely unrelated to Paxum. Paxum is just a customer of Choice Bank.
As a result of the news from Choice Bank we regret to inform you that Paxum cards can no longer be loaded via transfer to card. However it is important to note that any funds that currently exist on any Paxum card issued by Choice Bank are fully available and can be used as normal at the ATM and for POS purchases.
We are grateful that only a small portion of Paxum users are affected by Choice Banks situation, as it only relates to the Paxum issued card. All other aspects of Paxum services are operating normally, and regular service is uninterrupted. We apologize for this inconvenience caused to Paxum card-holders by Choice Bank, and we are working hard to promptly implement our new card solution.
As part of our commitment to providing a reliable payment service, and as a result of lengthy card issuing delays through Choice Bank over the last few months, Paxum had already been exploring alternative card issuing options and we have finalized a backup card. New cards are currently being printed. There will be no additional cost to the user for the new card, and we should have everything completed within 4 weeks. We will update clients as soon as the new cards have been shipped and implemented.
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