Paxum closed my account
 

I have been using Paxum for several years with a few minor issues. Two day's ago when I tried to login it said "Account Closed". After waiting for 2 day's for a reply from Paxum, I was sent this... wtf? The only reason I found out is because my Nifty Stats accounts stopped working because payment didn't go through that is automatically sent. No email, no notice that my account was being closed.


"Dear ______,

We were notified that this account can no longer remain open, however, you can continue our relation by opening an account with Paxum Bank (PAXUM BANK LIMITED - Personal Banking, Business Banking, Loans, Merchant Accounts, Mass Payout Solutions).

Other details aren't available at the moment. If or when they will be we will provide them for you.

Best Regards."

https://www.paxumbank.com/about/about-us/

I would wait for Ruth to come by before you do anything.

https://www.paxumbank.com/personal/

"Saving account"
..
Rates as low as 8.5% APR :1orglaugh:1orglaugh
because you want lower rate on saving :1orglaugh

Ouch. Keenly watching this thread.

"If your employer pays you through Paxum's Payroll Solution, you may qualify to receive a loan from Paxum Bank. Enjoy low interest rates and fast approval decisions. Over 90% of applicants get approved!"

Looks like they're actually loan rates. You reckon an offshore savings account would pay 8.5%? :winkwink:

Then again they're hidden behind cloudflare (HTTP) and domainsbyproxy (WHOIS)...

Ruth to the rescue ...

https://www.paxumbank.com/personal/s...o-buy-a-house/

imma buy myself a house with paxum

ouch sorry to hear that

I never leave money in the account. As soon as I receive a payment I send it to my bank. I never fully trusted using them enough to keep money in the account.

Still I am setup to receive payments from sponsors and advertisers.

Sorry to hear, that's pretty frightening.

What country are you from?

I read earlier that they won't open new accounts for people from the US. Are you from the US as well?

Hi cosis,

Can you please hit me up with your account username? My email is [email protected]

Thanks,
Ruth :)

I emailed you back about your account with us as well. Email me back when you get a chance.

I am in the US

Thanks Belinda, I just replied.

Ruth - okay Thanks for looking

Thats not good..... Following this thread :2 cents:

Thanks, I've replied to your email. Your account has been reopened.

Ruth :)

Thank you

Ruth is back - Yay!..

Glad to hear it has been resolved!

Ruth, is it possible to know if this was a single mistake, or there is mass account closing going on?

:thumbsup:thumbsup:thumbsup

Paxum the best thing that happend to us

Ruth Rocks! :2 cents:

:1orglaugh:1orglaugh:1orglaugh

scary, 90% of my payments are currently with Paxum so I'd be fucked hard :Oh crap

<3 <3 <3 ...

I did get my account re-opened but I have to switch to Paxum Bank within 30 day's based on my location. I am in South Carolina. Still confused as to why this has happened. It looks like the fee's with Paxum Bank are a lot higher.

Paxum Bank - WTF is that?..

https://paxumbank.com/

My guess is a lot of people will be introduced to it soon

Just had the same thing happen to me!! What the heck?! In Virginia here.

"We were notified that this account can no longer remain open, however, you can continue our relation by opening an account with Paxum Bank (PAXUM BANK LIMITED - Personal Banking, Business Banking, Loans, Merchant Accounts, Mass Payout Solutions).

Other details aren't available at the moment. If or when they will be we will provide them for you."

a bank in dominica :Oh crap :helpme:helpme

I don't like the sound of that at all - Ruth is great but you need about a thousand more of her to run a bank...

We are introducing some new services/features to Paxum.com (such as the ability to accept 3rd party payments and issue 3rd party payments, IBAN EUR accounts, etc). Paxum.com cannot offer some of those services to clients from certain jurisdictions, therefore those clients will need to be switched to Paxum Bank so they can enjoy the same features as other Paxum.com clients.

Paxum Bank and Paxum.com are fully integrated with each other. Clients will be able to instantly send and receive P2P payments (to other account-holders) between Paxum Bank and Paxum.com, and vice versa.

Which jurisdictions? So far South Carolina and Virginia?

Dominica is a beautiful location, and part of the Commonwealth of Nations (formerly the British Commonwealth). There's nothing wrong with that.

It is not illegal for a US Citizen to have a bank account outside of the United States. US citizens are entitled to have money and investments anywhere in the world as long as foreign accounts are disclosed. Clients would naturally have to report the account to the IRS, and Paxum Bank will remind its US clients which reports need to be filed, and when they are due.

Thanks, but I'm just one cog in this great Paxum machine. We have a lot of really good people working hard every single day to serve our customers needs and provide a reliable, secure and easy-to-use payment service. :)

Agreed, we deserve to know which jurisdictions are going to have this occur, and to do it without prior notice? That is just horrible business.

So what is a company like Apple going to do with a quarter TRILLION in Irish Bank Accounts to keep their effective tax rate near zero?

Happened to me too... I'm in the U.S.

Yeah the Paxum Bank is basically the same as Paxum.com.. ACH rates 8.95 rather 5.00 though..

But applying for the bank account is more involved.. More docs required and entire application needs to be sent in, can't apply online...

Deja vue scheme :2 cents:

Payoneer >>>>> first choice pay

Paxum >>>> paxum bank


Which wallet is next ?

epayment too ? >>> ???

:upsidedow

https://www.irs.gov/businesses/incom...oad-is-taxable

This only applies to US persons. Not legal advice and not tax advice.

Look up 'income repatriation' regarding Apple

Did you know ACH from at US banks costs $0.28 to as little as $0.18 for commercial accounts. ACH is free at my personal bank for limited volume (as a personal account). Incoming wires are no fee on my personal account. SEPA/EFT is a bit more. I have a pdf from a bank in Ireland that charges 0,55 € for a EFT. Bank fees are really a blind item these days.

Now that they have their own bank they can even finance a movie.

Hi Ruth,

Does Paxum Bank allow adult businesses in USA to create accounts there? I know Paxum has won many an adult industry award, but could you officially state on record that adult businesses are allowed? It'll probably give me and many others some peace of mind knowing that if we did open an account there, the chances of it being shut down for 'reputational risk' would be minimal.

Thank you.

Drama over, nothing to see here.

checks, no?

That's a little scary considering Paxum already required more docs/info then my US Bank Accounts, Paypal, and my brokerage.

Motion picture coming soon...

not true, his account was reopened for 30 days only and he his being forced into paxum bank. We still don't know the reason.

it's really fuking weird! because payoneer uses the same bank in belize! i think paxum has less protections (insurance) therefore they doc you to hell!! if you are doing fraud who would give their real info??