Paxum external card money withdrawal issue
 

So i've attached my local band credit card in $ to my Paxum account to withdraw money. The bank has received the money in local currency and applied some fee to apply them into my $ account. Then there's a difference in currency rates, so i've lost 5-7% on it.

I've contacted Paxum support which told me that they are using USD only and there's my bank issue. My bank showed me their operational docs showing they are receiving the money in local currency.

Last week I've tried my other cc with other bank - the same situation.

Has anyone experienced the same issue with Paxum? Is any way to have it fixed?
Paxum support has been useless for the last month.

who cares

You are never happy...

What did paxum support told you after bank told you that ?

Hi daizzzy, Do you have an open ticket # with us? Please let me know the # and I'll be happy to look into this for you. :thumbsup

There is no solution to this except withdrawing money to USD card and then use exchange rate which you want.

take a look please Ticket Id: #131263

was the usd converted into sheep or oxen?

I spoke to support about your ticket. Can you please reply to the ticket inside your Paxum Account Control Panel and attach the documentation you mention in this post directly to the ticket? The information on the documents may shed some light as to what happened to your withdrawal. We are happy to try to help you make sense of it, but we have not received it.

We do not use your local currency in any way, therefore there is no way that we could send you your funds in that currency. All External CC Withdrawals are completed in USD. It's entirely possible that there may be an intermediary bank involved in the transaction via your own bank (which may also charge additional fees); one that may complete the currency exchange before the funds arrive at your local branch. You will need to contact your local bank in order to discuss that with them.

I'm sorry you feel dissatisfied with the support you received. Our support department has replied to you promptly each of the six times you contacted us via our support system. I checked and calculated it out, and our average response time to you was about an hour. We advised you to contact your bank, and we informed you that we can only issue those types of payments in USD, and NEVER in your local currency.

Unfortunately this means that you need to contact your local bank about this issue to find the answers you seek. I'm sorry we can't be of more help.

Try to understand how international banking and currency handlings work. Of course there will be differences in currency exchange rates between different institutions,
BECAUSE THEY DO NOT EXCHANGE IT FOR YOU OUT OF GOODNESS OF THEIR HEARTS - THEY DO IT FOR PROFIT
Which is why any bank or money handler will ALWAYS sell you a certain currency at a higher price than they buy it from you for. That spread, is how they make their money.

Especially since you tried your other CC and got the same result, how in the world did you come to the conclusion that this would then somehow, magically be Paxum's fault if a different card produces the same result?

I'm sorry, but you come accross as so stupid that it must really hurt!