PAXUM ACH/EFT question

[Serge Litehead]

Just got your announcement email

Paxum is pleased to announce the re-implementation of ACH/EFT loading and withdrawal for USA customers!

In addition, we are also proud to introduce EFT Withdrawals for a number of International countries at this time. Please view the complete list below:

Australia, Austria, Belgium, Finland, France, Germany, Holland, Hong Kong, India, Ireland, Japan, Mexico, Poland, Russia, Singapore, Spain, Sweden, Turkey, Ukraine, United Arab Emirates, and United Kingdom.

Along with our standard withdrawal methods; Wire, Check, To an existing credit card, and to the Paxum Mastercard, we hope this new withdrawal method will prove useful to our International clients. As always, we are open to feedback and suggestions. Please feel free to contact us with your thoughts through the Message Center in your Paxum Account Control Panel.

We have more exciting additions coming soon! We appreciate and value your business and look forward to serving your payment needs during 2012 and beyond.

Regards,
The Paxum Team

And I have a question:
Has anything improved in terms of ACH/ETF loading/unloading speeds for US customers? And what about other newly added countries, how long should people expect to wait for EFTs to clear?

Last I remember, it took 1.5-2weeks (yeah 5-7 biz days sounds much less, but it is not) for ACH from and to a US bank

[Serge Litehead]

Another question, since you say "re-implementation of ACH/EFT" do we have to resubmit our ACH applications or everything is good as is?

[RuthB]

We are using a different 3rd party processor for our EFT now, and yes the time-frame is still 5-7 business days.

We have not been able to find a provider who can give us a better ETA for delivery/withdrawal of funds.

[Serge Litehead]

thanks Ruth.

5-7 business days is very very inconvenient in this day and age. i know, you'll recommend wires, but they are an overkill for anything below few grand with you.

[RuthB]

Originally Posted by holograph

thanks Ruth.

5-7 business days is very very inconvenient in this day and age. i know, you'll recommend wires, but they are an overkill for anything below few grand with you.

From what I can gather, typically for EFT/ACH withdrawals it takes about 3-4 business days to deposit to your bank account. That's fairly standard for about 99% of cases, however some customers do experience a slightly longer wait for delivery of the funds to their bank account.

For loading funds, due to fraud prevention features in place with the 3rd party processor, it generally takes 5-7 business days for the funds to arrive to your Paxum account.

In relation to your other question regarding the EFT/ACH documentation. If you have already been approved for ACH in our system, then you will NOT have to redo the documentation.

If you're unhappy with this timeframe, and you don't want to use wire withdrawal, we do also offer check withdrawal as an option.

Thanks!

[u-Bob]

I use wires at Paxum: takes less than 3 days

[rapsadoo]

yes im also use wire and it takes only 3 business days

[Dating Port]

Ashley Madison Pays me directly by ACH and it takes 3 days.