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Old 01-08-2018, 11:34 AM   #1
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Paxum closing US PERSONAL Accounts

Wow, this is huge news, they quit allowing US citizens getting Mastercards but now accounts closing. Sad news sad sad

Quote:
Paxum US Personal Account Closure

48 Hour Notice ? Paxum Personal Account Closure

We regret to inform you that Paxum will be changing the way we work with USA Customers. USA Business Account-Holders will not be affected by this change, but unfortunately Paxum will no longer be providing services to USA Personal Account-Holders.

Please be advised that your Paxum Personal Account will be closed on Wednesday, January 10th 2018 at 10:01 ET (Eastern Time). Paxum Business Accounts will remain open and available after this date.

We understand this will not be welcome news to USA Personal account-holders, and we'd like to take a moment to explain the rationale behind this policy change. There are several factors involved in this decision, including:......
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Old 01-08-2018, 11:37 AM   #2
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I just started a thread at the same time. Received the notice. This is disappointing.
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Old 01-08-2018, 11:42 AM   #3
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ya man, just seen too, ya this is almost devistating

I want to know what's going to happen with funds sent to our closed accounts, Paxum (Ruth, Chris?) do you have something for this?
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Old 01-08-2018, 11:45 AM   #4
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Soo what is the reason
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Old 01-08-2018, 11:48 AM   #5
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not good news at all
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Old 01-08-2018, 12:07 PM   #6
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Soo what is the reason
US gov & administration ?
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Old 01-08-2018, 12:10 PM   #7
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ya man, just seen too, ya this is almost devistating

I want to know what's going to happen with funds sent to our closed accounts, Paxum (Ruth, Chris?) do you have something for this?
just withdraw them before its too late ? buy some coins heheh, they will close your account anyway, so it doesnt matter for you
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Old 01-08-2018, 12:12 PM   #8
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ETF'ing my $$ outta there today... but we have limits!!! So that'll be another issue Also with incoming payments going to an invalid Paxum addy (after closing accounts our payments will be invalid i guess)
... this going to be a terrible mess
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Old 01-08-2018, 12:20 PM   #9
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interesting turn of events
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Old 01-08-2018, 12:22 PM   #10
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i avoided them for payments no big deal here
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Old 01-08-2018, 12:38 PM   #11
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Cant you guys just move to Paxum Bank?
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Old 01-08-2018, 12:41 PM   #12
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I messaged them about the paxum bank, I can't even sign up - it's downloading a scrambled zip file when I hit signup
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Old 01-08-2018, 01:05 PM   #13
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2 whole days of notice? Awesome!
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Old 01-08-2018, 01:11 PM   #14
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Just to clarify we are closing US Personal accounts.
US business accounts are fine.

As for the 48 hour notice. The 48 hour is for you to manually go into your account and transfer the funds to your bank or to your card.

If you do not do this within 48 hours we will start the process for you.

No one will have funds stuck with us.
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Old 01-08-2018, 01:12 PM   #15
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Just to clarify we are closing US Personal accounts.
US business accounts are fine.

As for the 48 hour notice. The 48 hour is for you to manually go into your account and transfer the funds to your bank or to your card.

If you do not do this within 48 hours we will start the process for you.

No one will have funds stuck with us.
The problem isn't getting funds out, it's that some people have dozens of affiliate programs setup to pay them via paxum.
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Old 01-08-2018, 01:13 PM   #16
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Future payments will be sent to our closed Paxum accounts, this is unavoidable. How will this be handled?
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Old 01-08-2018, 01:14 PM   #17
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Just to clarify we are closing US Personal accounts.
US business accounts are fine.

As for the 48 hour notice. The 48 hour is for you to manually go into your account and transfer the funds to your bank or to your card.

If you do not do this within 48 hours we will start the process for you.

No one will have funds stuck with us.
what About Canadian Accts ?
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Old 01-08-2018, 01:16 PM   #18
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2 whole days of notice? Awesome!
Yeah this is ridiculous. The FBI must be at their door to make them go to such an extreme. If you are on vacation, screw you, they will start the process even before making your ACH info is still valid.

If the reason they gave was true, they would close all perso accounts not just the US. It is obvious that they have a American 3 letters organization like the FBI on their back but they can't admit this or it would making people panic.
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Old 01-08-2018, 01:17 PM   #19
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There are hundreds if not thousands of paysites who pay out via paxum, how will the transfer be handled in only a 48 hour period?
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Old 01-08-2018, 01:18 PM   #20
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2 days? fucking hard. I feel federal shit? IRS?
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Old 01-08-2018, 01:20 PM   #21
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It just adds to the list of USA account closings recently

bitmex
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bx
and now Paxum
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Old 01-08-2018, 01:20 PM   #22
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What was the reason given? My account is european so I didn't get the message and jscott cut it off.
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Old 01-08-2018, 01:20 PM   #23
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Just to clarify we are closing US Personal accounts.
US business accounts are fine.

As for the 48 hour notice. The 48 hour is for you to manually go into your account and transfer the funds to your bank or to your card.

If you do not do this within 48 hours we will start the process for you.

No one will have funds stuck with us.
Is it possible to convert a personal account into a business account?
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Old 01-08-2018, 01:21 PM   #24
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Sorry Konrad, here's the full:

Quote:
48 Hour Notice ? Paxum Personal Account Closure
We regret to inform you that Paxum will be changing the way we work with USA Customers. USA Business Account-Holders will not be affected by this change, but unfortunately Paxum will no longer be providing services to USA Personal Account-Holders.

Please be advised that your Paxum Personal Account will be closed on Wednesday, January 10th 2018 at 10:01 ET (Eastern Time). Paxum Business Accounts will remain open and available after this date.

We understand this will not be welcome news to USA Personal account-holders, and we'd like to take a moment to explain the rationale behind this policy change. There are several factors involved in this decision, including:

Verified USA Personal Account-Holders represent a notably small percentage of our business and revenues, while an incomparable amount of company resources is consumed by the needs of USA Personal Account-Holders through support services, legal requirements and regulatory compliance.

We expect regulatory compliance in the United States to become more complicated and burdensome in the future, particularly with regards to individual users. From a business standpoint we cannot justify the continually growing expense of an even greater percentage of company resources for a small percentage of clients.

We would like to thank every single one of our loyal USA Personal account customers for their continued support and use of our services over the years. We weighed this decision for a long time, but regrettably we have a duty to allocate our resources in a way that best supports the growth and improvement of our company and service for the majority of clients.

We invite you to withdraw your funds without any fees before Wednesday, January 10 th 2018 at 10:01 ET. All fees will be automatically waived for your withdrawal prior to the stated deadline.

Important Recommended Next Steps For You

Log-in to your Paxum personal account and make sure the bank account information is accurate and up-to-date inside your account. You can find this in the section My Account >> Profile Settings >> Bank Accounts

Withdraw your funds without paying the fee by either ACH or WIRE to your bank account.

Transfer your funds without paying the fee to your active Paxum branded card issued by Choice Bank.

To avoid future payment delays, promptly update your payment method with companies that previously paid you via Paxum.

Export your full Paxum personal account statement for your historical financial records. You can do this by visiting the Statements section of your account. Export is available in CSV or PDF formats. Once your account is closed you will no longer be able to access statement information.

*Important Note: Paxum branded cards issued by Choice Bank will remain active after USA Personal account closures. Any remaining funds can be accessed and emptied by the card-holder. However, there will be no way to add new funds after Paxum personal account closure.

Steps We Will Take at January 10th 2018

Any Non-USD current account funds in your Paxum personal account will be automatically transferred to your Paxum USD current account.

All Non-USD current accounts for USA Personal Account-Holders will be automatically closed.

All active card-holders of a Paxum branded card issued by Choice Bank will automatically receive a pro-rated refund of the most recently paid annual fee. This pro-rated amount will be calculated based on the number of days that have passed since the date the annual fee was last charged.

If the funds have not been cleared by the personal account-holder themselves by January 10th 2018 at 10:01 ET, then all USD Funds will be automatically cleared from your Paxum USD current account and either sent to your listed US bank account via ACH or WIRE, or to your active Paxum branded card issued by Choice Bank. Normal account fees ($5 USD for ACH, or $50 USD for WIRE) will be charged for automated funds clearing after the stated deadline.

All USA Personal Account-Holders accounts will be closed effective January 10th, 2018 at 10:01 ET.

Please note: if you are a Paxum USA Personal Account-Holder with an active verified Paxum USA Business Account, your Paxum Business Account will remain open and available for use after the stated deadline, however your Paxum Personal account will be closed, no exceptions.
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Old 01-08-2018, 01:29 PM   #25
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some people were notified of their Paxum US personal accounts being closed months ago and there were threads/posts about it. you guys must have missed them.
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Old 01-08-2018, 01:29 PM   #26
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Paxum sounds like Epassporte... well, reminds me of this nightmare!

a shame
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Old 01-08-2018, 01:30 PM   #27
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Sorry Konrad, here's the full:
I'm not even affected by this, but it sounds suspicious to say the least. They were considering this presumably for months they were deciding and they can't give people even 2 weeks? We're to understand that they spent a long time deciding and then suddenly "ok lets do it, give them 48 hours"?

They clearly have some kind of concerns if that they want those private account holders off that quickly.
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Old 01-08-2018, 01:31 PM   #28
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Future payments will be sent to our closed Paxum accounts, this is unavoidable. How will this be handled?
Your money will be denied. Closed accounts will not receive funds. That is what Paxum told me today when I asked.
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Old 01-08-2018, 01:33 PM   #29
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some people were notified of their Paxum US personal accounts being closed months ago and there were threads/posts about it. you guys must have missed them.
No accounts were closed from just being US citizens before though, their situations were closings bcos of other issues right?

Paxum had already removed US citizens use of Mastercards, so this is not totally surprising, but they seemed like they were working to improve US customers situation, last i heard they were "working on getting US mastercards back"

and yes agreed, 48hrs is not enough time, i for sure will be getting some payments sent to my soon-to-be closed Paxum addy, waiting to find out what will happen about those
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Old 01-08-2018, 01:34 PM   #30
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@chris can we open business accounts in the USA?
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Old 01-08-2018, 01:34 PM   #31
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Your money will be denied. Closed accounts will not receive funds. That is what Paxum told me today when I asked.
Ok, so that'll just be a massive clusterfuck with each separate sponsor then fuckkkkkkkkkk what a headache
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Old 01-08-2018, 01:36 PM   #32
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I just don't get what makes them give short notices like that.

Great customer service on their part.
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Old 01-08-2018, 01:38 PM   #33
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If you have a Paxum Open Mastercard ( printed from Choice Bank ) you can use it after Jan. 10... as long as the card isnt expired.

My card is valid thru March 30 2018
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Old 01-08-2018, 01:42 PM   #34
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Yes, I would say non-US customers who receive a lot of affiliate payments ought to consider beginning to move those payments to other methods. You don't want to get caught and screwed by this unconcern for the customer when it's your turn!
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Old 01-08-2018, 01:47 PM   #35
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No accounts were closed from just being US citizens before though, their situations were closings bcos of other issues right?
from what I recall all those people complained their accounts were closed with no reason given and they all were US citizens... also they were told they need to switch to Paxum Bank.
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Old 01-08-2018, 01:48 PM   #36
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@chris can we open business accounts in the USA?
Yes - we are allowing new registrations for US Business accounts.
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Old 01-08-2018, 01:48 PM   #37
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Is it possible to convert a personal account into a business account?
Bump for an answer. If we have a corporation or LLC, can we convert existing account to business account??

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Old 01-08-2018, 01:50 PM   #38
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This strikes me as a completely unprofessional move by Paxum.

We have supplier (affiliate) payments that are just about to be made. We sent a wire load to Paxum a week ago in good faith, to be able to pay these suppliers. And, NOW you pull the rug out from under these account holders?

We are not directly affected (we have a Canadian Business account with Paxum), but we will work with any impacted suppliers to get payment to you, by whatever payment method we offer that works best for you.

For those that are impacted, please contact me; [email protected] or Skype:ravo.fpctraffic
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Old 01-08-2018, 01:51 PM   #39
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So I logged into my personal account and it tells me to change the password. I change the password and log back in and it says "This account is closed"

So how do we get our money out?

And unless you plan on keeping our money how do we get around the daily withdrawl limits?
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Old 01-08-2018, 02:05 PM   #40
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sad to hear
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Old 01-08-2018, 02:27 PM   #41
Brian mike
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Sorry to hear that for All the US client who will be affected with this. But there is still other service out there !

We have invite our USA Client to Join epayments as alternative if they can't open a Paxum business account.

Any client from TC Network who will be affected by this Paxum change your welcome to email us : [email protected] .

Thanks
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Old 01-08-2018, 02:29 PM   #42
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Quote:
Originally Posted by Chris View Post
Yes - we are allowing new registrations for US Business accounts.
Ok....so I tried to sign up for a business account.

Is this just me, or have others seen this issue?

When I verified my account I was sent to finish the signup.

There is no "United States" option for Citizenship.



Under Country Of Birth there is an option for "United States"



But again for Country Of Residence there is no option for "United States"



Has anyone else seen this?
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Old 01-08-2018, 02:41 PM   #43
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48 hour notice, fucking lol. Did Chris Mallick get ahold of this one too?
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Old 01-08-2018, 03:05 PM   #44
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what will happen to all the documents and documents being held above the heads photos id's etc.

saw this coming from a mile away odd we can still make accounts with payoneer firstchoice same bank.
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Old 01-08-2018, 03:16 PM   #45
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48 hour notice, fucking lol. Did Chris Mallick get ahold of this one too?
Probably, needs the money for the upcoming Manwin/Mansef movie of how they took over the adult online industry.
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Old 01-08-2018, 03:45 PM   #46
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official reason Chris?

Quote:
Originally Posted by Chris View Post
Just to clarify we are closing US Personal accounts.
US business accounts are fine.

As for the 48 hour notice. The 48 hour is for you to manually go into your account and transfer the funds to your bank or to your card.

If you do not do this within 48 hours we will start the process for you.

No one will have funds stuck with us.
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Old 01-08-2018, 04:05 PM   #47
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Months of consideration, 48 hours of notice. This doesn't smell right.
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Old 01-08-2018, 04:41 PM   #48
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FATCA has finally reached paxum?
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Old 01-08-2018, 04:48 PM   #49
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Quote:
Originally Posted by Chris View Post
Just to clarify we are closing US Personal accounts.
US business accounts are fine.

As for the 48 hour notice. The 48 hour is for you to manually go into your account and transfer the funds to your bank or to your card.

If you do not do this within 48 hours we will start the process for you.

No one will have funds stuck with us.
OH, YES, we will. I have less than minimum for ACH in the checking, and only a couple of dollars on the card, which expires this month anyway.

I started the Application process for Paxum Bank in Berlin at the XBiz show. 2 months later, I get BS rejection from whatever "Bank" and you guys did ABSOLUTELY NOTHING to help me when I notified you.

AND, as of right now, midnight London time, NO NOTICE from Paxum! Good thing I subscribe to XBIZ and have this window open.

AWFUL!

Are you planning to show your face at InterNext in 2 weeks?????
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Old 01-08-2018, 04:53 PM   #50
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Quote:
Originally Posted by k0nr4d View Post
The problem isn't getting funds out, it's that some people have dozens of affiliate programs setup to pay them via paxum.
Like all of us with Chaturbate!
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