Rant Paxum pulling a MtGox on their customers?

[Mooby]

We've been using Paxum for years without problems. Of course, that was right up until September, when they sent us a bad check.

Because we understood this was due to their issues with Chexx Inc (and that they were kind enough to re-credit the funds and fees) we gave them the benefit of the doubt. However, once the funds had been returned to our Paxum account, we started looking into alternative ways of withdrawing our funds, and that's when the real problems started...

First, we requested their Mastercard, which they stalled by gratuitously requesting additional documentation. Once the documentation had been accepted, the status of the card changed to "Printing" and then "Printed", but nothing more appears to have happened. While we were waiting for the card to ship, we decided that we simply couldn't wait any longer, so we requested a WIRE withdrawal of our funds (we figured that it would be worth swallowing the insane $50 fee if it meant being able to safely bank our funds). That was a BIG mistake!

Now 2 weeks have passed since the "completion" of our WIRE transfer request, and there's still no trace of our funds. Paxum provided us with details of the transfer, and even though all of our account details are correct, our bank has no record of any incoming WIRE matching those details. Now Paxum are essentially telling us that it's our problem as the WIRE was not returned to their bank and therefore it's up to us to find it!

To be fair, we're willing to accept the occasional problem/technical glitch, but there are simply too many co-incidences here. Namely, this is very similar to what the failed bitcoin exchange MtGox did to their customers while stalling for time in their final months. If this is a genuine mistake on Paxum's part, we'll apologize, but it's simply too suspicious.

Has anyone else encountered similar problems with Paxum recently?

[RebelR]

We haven't had an issue with Paxum, but if I'm not mistaken, it's up to the wire issuer to do a wire trace to see where the issue lies. It may be stuck in an intermediary bank somewhere.

[bgmen]

Paxum have problems every day. It's really very suspicious.

[Mooby]

Originally Posted by RebelR

We haven't had an issue with Paxum, but if I'm not mistaken, it's up to the wire issuer to do a wire trace to see where the issue lies. It may be stuck in an intermediary bank somewhere.

We were wondering the same. I recall back in 2013 they had issues with their intermediary bank being rejected due to failure to comply with OFAC regulations.

[RuthB]

Originally Posted by Mooby

We've been using Paxum for years without problems. Of course, that was right up until September, when they sent us a bad check.

Because we understood this was due to their issues with Chexx Inc (and that they were kind enough to re-credit the funds and fees) we gave them the benefit of the doubt. However, once the funds had been returned to our Paxum account, we started looking into alternative ways of withdrawing our funds, and that's when the real problems started...

First, we requested their Mastercard, which they stalled by gratuitously requesting additional documentation. Once the documentation had been accepted, the status of the card changed to "Printing" and then "Printed", but nothing more appears to have happened. While we were waiting for the card to ship, we decided that we simply couldn't wait any longer, so we requested a WIRE withdrawal of our funds (we figured that it would be worth swallowing the insane $50 fee if it meant being able to safely bank our funds). That was a BIG mistake!

Now 2 weeks have passed since the "completion" of our WIRE transfer request, and there's still no trace of our funds. Paxum provided us with details of the transfer, and even though all of our account details are correct, our bank has no record of any incoming WIRE matching those details. Now Paxum are essentially telling us that it's our problem as the WIRE was not returned to their bank and therefore it's up to us to find it!

To be fair, we're willing to accept the occasional problem/technical glitch, but there are simply too many co-incidences here. Namely, this is very similar to what the failed bitcoin exchange MtGox did to their customers while stalling for time in their final months. If this is a genuine mistake on Paxum's part, we'll apologize, but it's simply too suspicious.

Has anyone else encountered similar problems with Paxum recently?

Hi Mooby,
Please email me with your account username. I'll be happy to look into this for you.
Thanks,
Ruth
[email protected]

[Mooby]

Thanks Ruth! Just sent you an email...

[flashfire]

I got my check funds returned with assistance from Ruth FYI

[JFK]

Originally Posted by flashfire

I got my check funds returned with assistance from Ruth FYI

Ruth Does a great job !

[brassmonkey]

should not need assistance to get your money!

[CaptainHowdy]

Go, Ruth, GO!

[xXXtesy10]

Originally Posted by Mooby

We've been using Paxum for years without problems. Of course, that was right up until September, when they sent us a bad check.

Because we understood this was due to their issues with Chexx Inc (and that they were kind enough to re-credit the funds and fees) we gave them the benefit of the doubt. However, once the funds had been returned to our Paxum account, we started looking into alternative ways of withdrawing our funds, and that's when the real problems started...

First, we requested their Mastercard, which they stalled by gratuitously requesting additional documentation. Once the documentation had been accepted, the status of the card changed to "Printing" and then "Printed", but nothing more appears to have happened. While we were waiting for the card to ship, we decided that we simply couldn't wait any longer, so we requested a WIRE withdrawal of our funds (we figured that it would be worth swallowing the insane $50 fee if it meant being able to safely bank our funds). That was a BIG mistake!

Now 2 weeks have passed since the "completion" of our WIRE transfer request, and there's still no trace of our funds. Paxum provided us with details of the transfer, and even though all of our account details are correct, our bank has no record of any incoming WIRE matching those details. Now Paxum are essentially telling us that it's our problem as the WIRE was not returned to their bank and therefore it's up to us to find it!

To be fair, we're willing to accept the occasional problem/technical glitch, but there are simply too many co-incidences here. Namely, this is very similar to what the failed bitcoin exchange MtGox did to their customers while stalling for time in their final months. If this is a genuine mistake on Paxum's part, we'll apologize, but it's simply too suspicious.

Has anyone else encountered similar problems with Paxum recently?

[Fat Panda]

ROFL the writing is on the wall. Get the fuck out now

[TheDynasty]

Hope nobody is keeping there money in paxum

[Paul&John]

Got my money wired out successfully after my checks were refunded to my paxum account. However they wont compensate on the insane bank fee's for the bounced checks..

[cybermike]

Waiting for a reply from my email.. my question is how do you verify your bank account with their system to use the EFT option?

[Google Expert]

Originally Posted by cybermike

Waiting for a reply from my email.. my question is how do you verify your bank account with their system to use the EFT option?

[Pim(P)]

Is paxum even licensed?

[Blank]

I had a problem with a missing WIRE during a few weeks but in the end Paxum got my funds back and since then I have received other WIRES without problems. Their support staff is always polite (to me atleast). Just keep sending support messages to them and you should get your wire.

Agree with the fee... $50 and then have to wait quite long time... usually takes me 5-10 days to receive a wire from that *I* initiate it till it actually shows up in my bank account and charging $50 for that is a lot.

[NewNick]

I genuinely think that paxum are doing their best to run a decent service.

There is a lot of money to be made outside of traditional banking if you can keep all of the wheels turning.

However I am seeing that it is becoming increasingly difficult to maintain banking relationships, harder to open new accounts, and the whole off shore company business is a lot tighter than it used to be.

Then if, like paxum, your traffic flows are funds predominantly earned in the adult industry you are going to find it very hard to keep all of the plates spinning.

Like I said, I dont think they are acting maliciously, but I neither do I see a trouble free future for their ilk.

[k0nr4d]

Paxum is doing their best, but the bank they use is complete and utter shit. Choice bank is sketchy as fuck.

[webgurl]

I have been waiting for over a month and half for a pretty big personal wire (still not received) as of today. After 30+ back and fourth messages from their support ticket system. Plus I agree about the $50 wire fee for a bank wire transfer that takes usually 2-3 weeks - ummmm really?

[charlie g]

I am not going to keep beating a dead donkey, so this is my last swing at this jackass.


"IF" you can every get set up and going people seem to have no problems using paxum. "IF" you have any problem or need to change anything, watch out. Get ready for piles of bullshit emails with the same canned replies. Not sure anyone even reads emails there. Fucking worst CS I have ever experienced in my entire life. Much worse than the USPS back in the heyday when the service was a joke.

My advice to anyone reading, USE ANYTHING ELSE. Cash in the mail, IOU's whatever. Less heartache and headaches to find out you cant use your money.

[LouiseLloyd]