Originally Posted by Adraco

Yelp! A withdrawal fee of $2 + 1.25% on a $500 transaction is a total of:
500 x 0.0125 = 6.25
add to that the fixed $2 fee
and you end up with a total of $2 + $6.25 = $8.25 in fees to withdraw $500
That's a total fee of 8.25 / 500 = 1.65%
Add to that the yearly card fee of $44.95 and the card comes out as an expensive withdrawal option!

Compare that to a US ACH withdrawal, of $2500 for the total fee of $5
then you end up with a fee percentage of only 5 / 2500 = 0.2%

Paxum sure enough did not announce this new card fee! Sure enough it was stated
"new cards on the way"
and
"new cards will be provided, at no extra cost to you"
They just forgot to tell about the new fee which will render the card a very expensive withdrawal product.

Say that you want to withdraw $2500
that will now take you three separate days with the card, since the maximum per day is $1000, but spread over at least two transactions of $500 each. Not only will you need to go to an ATM no less than five times, you'll also have to pay $8.25 per ATM visit. So withdrawaing $2500 is going to cost you, not only the time but also 5 x $8.25 = $41.50 in total fees.

Compare that again to the $5 US ACH withdrawal for the same amount $2500 and it takes about the same time, under normal conditions. The new card surely becomes very expensive!