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-   -   Paxum Statement Regarding Choice Bank (https://gfy.com/showthread.php?t=1297661)

RuthB 04-10-2018 07:38 AM

Paxum Statement Regarding Choice Bank
 
Paxum Inc would like to address any concern our clients may feel after the recent news regarding Choice Bank Limited. On April 9th 2018 Choice Bank Limited informed its customers that it has been forced into a constrained position by the regulatory authorities.

Paxum would like to reassure our customers that this is an issue between Choice Bank and its regulatory authorities directly, and it is completely unrelated to Paxum. Paxum is just a customer of Choice Bank.

As a result of the news from Choice Bank we regret to inform you that Paxum cards can no longer be loaded via transfer to card. However it is important to note that any funds that currently exist on any Paxum card issued by Choice Bank are fully available and can be used as normal at the ATM and for POS purchases.

We are grateful that only a small portion of Paxum users are affected by Choice Banks situation, as it only relates to the Paxum issued card. All other aspects of Paxum services are operating normally, and regular service is uninterrupted. We apologize for this inconvenience caused to Paxum card-holders by Choice Bank, and we are working hard to promptly implement our new card solution.

As part of our commitment to providing a reliable payment service, and as a result of lengthy card issuing delays through Choice Bank over the last few months, Paxum had already been exploring alternative card issuing options and we have finalized a backup card. New cards are currently being printed. There will be no additional cost to the user for the new card, and we should have everything completed within 4 weeks. We will update clients as soon as the new cards have been shipped and implemented.

http://paxumblog.com/wp-content/uplo...paxum-card.png

In the beginning of March 2018 Choice Bank experienced problems loading funds to cards and at that time Paxum pro-actively introduced Instant Withdrawal to External Credit/Debit card as an additional instant withdrawal option. Many clients have tried this option, and we recommend it for any Paxum client seeking instant access to their account funds while a replacement Paxum card is being implemented. Please note, some restrictions do apply.

Paxum payment solution has always been more than just a card, which is why problems that our card issuer Choice Bank is experiencing will not cause any long-term damage to Paxum's ability to provide consistent secure global payment services.

Paxum offers multiple withdrawal options (Wire, EFT/ACH, External Credit/Debit Card, and Transfer to Other Accounts), instant payments worldwide, and we still offer instant withdrawal. Paxum cards will be back very soon, and we look forward to continuing to serve our clients payment needs in the meantime.

CrazyMartin 04-10-2018 07:40 AM

Great :) :thumbsup

but.. what restrictions?

Feng-PD 04-10-2018 07:41 AM

Great news Ruth!!! Got us worried for a sec!

RuthB 04-10-2018 07:44 AM

Quote:

Originally Posted by CrazyMartin (Post 22251294)
Great :) :thumbsup

but.. what restrictions?

The restrictions specifically apply to the Withdrawal to External Credit/Debit card option. It is not available to certain countries; USA, Canada, Israel or Japan.

King Mark 04-10-2018 07:46 AM

https://thehoodup.com/board/images/smilies/huh-wah.png

bgmen 04-10-2018 07:50 AM

Quote:

Originally Posted by RuthB (Post 22251292)
New cards are currently being printed. There will be no additional cost to the user for the new card, and we should have everything completed within 4 weeks. We will update clients as soon as the new cards have been shipped and implemented

Ruth, does that mean that all current cardholders will receive a new card in the near future?

RuthB 04-10-2018 07:51 AM

Quote:

Originally Posted by bgmen (Post 22251305)
Ruth, does that mean that all current cardholders will receive a new card in the near future?

Yes, exactly.

JamesDrews 04-10-2018 07:52 AM

Good work Paxum! :thumbsup

Brian mike 04-10-2018 07:54 AM

Before clapping hands, Can we know the countries where this will be available eh eh eh :thumbsup

Feng-PD 04-10-2018 07:56 AM

Ruth i transferred $2500 a few days ago and it keeps jumping from "pending charges" to "available funds". In my it shows it got acced to my creditcard but in my account balance it switches between the two. Not sure whats going on.

King Mark 04-10-2018 07:58 AM

Quote:

Originally Posted by Feng-PD (Post 22251313)
Ruth i transferred $2500 a few days ago and it keeps jumping from "pending charges" to "available funds". In my it shows it got acced to my creditcard but in my account balance it switches between the two. Not sure whats going on.

That's called "motion"

Brad Mitchell 04-10-2018 08:05 AM

Thank you for the update, Ruth!

At MojoHost we are very happy to accept Paxum from our customers. In light of this recent challenge, I am inclined to offer a Paxum special for new clients and additional purchases. We have full confidence in the Paxum platform.

Through the end of April, MojoHost will match 100% of Paxum funds sent to us to be applied toward incrementally new business. This amount will be placed as a credit on account to be applied toward the purchase of any new VPS or dedicated server account. No limitation on dollar amount, except that the matched funds will not be applied toward existing recurring service. Send us $1000, get $2000 on account at MojoHost - that simple. Please email myself or sales (at) to receive help picking out new hosting and if you would like to explore additional discounts to our retail pricing.

NOW, A SPECIAL FOR EXISTING CUSTOMERS. Because you're awesome, and you deserve something great even if you aren't growing your spend with us. Load me up with a pre-payment of any size via Paxum through April 30th and I will manually give you a 10% bonus of funds within your account. Instructions for current MojoHost customers and eligibility: Login to the portal, create an "add-funds" invoice in any amount of your choosing. Send Paxum funds in this amount to billing at mojohost.com and reference the invoice number of your new "add funds" invoice... and I will hand the rest! Funds will be applied toward outstanding invoices first, before future invoices. Same will apply to the 10% bonus I give you.

:thumbsup

Sincerely,

Brad Mitchell

RuthB 04-10-2018 08:05 AM

Quote:

Originally Posted by Feng-PD (Post 22251313)
Ruth i transferred $2500 a few days ago and it keeps jumping from "pending charges" to "available funds". In my it shows it got acced to my creditcard but in my account balance it switches between the two. Not sure whats going on.

Can you please hit me with your account email in a private message or via email? I'll check into it

[email protected]

hdbuilder 04-10-2018 08:06 AM

Thanks Ruth, hope we get the new card in those delay

JFK 04-10-2018 08:07 AM

Quote:

Originally Posted by RuthB (Post 22251307)
Yes, exactly.

New Cards in Canada as well ? :2 cents:

RuthB 04-10-2018 08:10 AM

Quote:

Originally Posted by Brad Mitchell (Post 22251320)
Thank you for the update, Ruth!

At MojoHost we are very happy to accept Paxum from our customers. In light of this recent challenge, I am inclined to offer a Paxum special for new clients and additional purchases. We have full confidence in the Paxum platform.

Through the end of April, MojoHost will match 100% of Paxum funds sent to us to be applied toward incrementally new business. This amount will be placed as a credit on account to be applied toward the purchase of any new VPS or dedicated server account. No limitation on dollar amount, except that the matched funds will not be applied toward existing recurring service. Send us $1000, get $2000 on account at MojoHost - that simple. Please email myself or sales (at) to receive help picking out new hosting and if you would like to explore additional discounts to our retail pricing.

:thumbsup

Sincerely,

Brad Mitchell

Thank you Brad! This is excellent news for Paxum clients looking for a solid, secure and trustworthy host! :thumbsup:thumbsup

#thatsgoodmojo !

Klen 04-10-2018 08:15 AM

Quote:

Originally Posted by Brad Mitchell (Post 22251320)
Thank you for the update, Ruth!

At MojoHost we are very happy to accept Paxum from our customers. In light of this recent challenge, I am inclined to offer a Paxum special for new clients and additional purchases. We have full confidence in the Paxum platform.

Through the end of April, MojoHost will match 100% of Paxum funds sent to us to be applied toward incrementally new business. This amount will be placed as a credit on account to be applied toward the purchase of any new VPS or dedicated server account. No limitation on dollar amount, except that the matched funds will not be applied toward existing recurring service. Send us $1000, get $2000 on account at MojoHost - that simple. Please email myself or sales (at) to receive help picking out new hosting and if you would like to explore additional discounts to our retail pricing.

:thumbsup

Sincerely,

Brad Mitchell

Would be great if other companies could join too :)

CaptainHowdy 04-10-2018 08:47 AM

Paxum ROCKS :thumbsup !!

magneto664 04-10-2018 09:09 AM

nice to hear.

Optic 04-10-2018 09:15 AM

Hope You fix it and don't crash since we already had experience with epass)

nikki99 04-10-2018 09:21 AM

Ruth, I have my new card but didnīt activated it yet, it will work or I need to wait for a new one?

bns666 04-10-2018 09:47 AM

nice :thumbsup

Miguel 04-10-2018 09:54 AM

Let's cross fingers!

LoriAnderson 04-10-2018 10:07 AM

good news :thumbsup

magneto664 04-10-2018 10:17 AM

I get right now and wire transfer from paxum to my uk bank account.
it looks like money are safe.

Klen 04-10-2018 10:30 AM

Quote:

Originally Posted by nikki99 (Post 22251386)
Ruth, I have my new card but didnīt activated it yet, it will work or I need to wait for a new one?

If it says choice bank on background, you can cut it/throw it.

pamon 04-10-2018 10:57 AM

Too bad instant withdrawals aren’t available in US. Waiting a week for a withdrawal seems the only answer for US business account holders I think for now.

SleepWalker 04-10-2018 11:04 AM

Ruth, you stated: " New cards are currently being printed. "

Can we pay to get them sent overnight to us?
Do you know what will be the monthly limit?

Also, is there any possibility that Choice will fix their issue and make the current cards work again?

Thank you!

JM-cj 04-10-2018 11:44 AM

Quote:

Originally Posted by sleepwalker (Post 22251453)
ruth, you stated: " new cards are currently being printed. "

can we pay to get them sent overnight to us?
Do you know what will be the monthly limit?

Also, is there any possibility that choice will fix their issue and make the current cards work again?

Thank you!

+100500!!!
Ruth plz coment it ASAP!

RyuLion 04-10-2018 12:00 PM

Quote:

Originally Posted by JM-cj (Post 22251455)
+100500!!!
Ruth plz coment it ASAP!

Bump.........^^

robwod 04-10-2018 12:14 PM

Ruth, for those of us in Canada, US, Israel and Japan, obviously we have limited options compared to other countries as it pertains to Paxum withdrawls. Is it possible to still wire out to a local bank account in Canada. Or is that option nullified now as well?

I don't have a card. So what exactly are my options here as a Canadian Paxum user? Can you answer these two questions please?

1. Can others still pay me via Paxum?
2. Can I withdraw via Wire to a Local Bank in Canada (TD, CIBC, RBC, BMO, etc)?

SleepWalker 04-10-2018 12:22 PM

Quote:

Originally Posted by robwod (Post 22251473)
1. Can others still pay me via Paxum?
2. Can I withdraw via Wire to a Local Bank in Canada (TD, CIBC, RBC, BMO, etc)?

I can already tell you that yes you can withdraw to your local bank in Canada by wire. You can even wire from paxum to anyone ( to pay some company etc )

adultchatpay 04-10-2018 12:31 PM

Thanks for the heads up!

Chris 04-10-2018 12:36 PM

Quote:

Originally Posted by JFK (Post 22251325)
New Cards in Canada as well ? :2 cents:

yes all cards

Chris 04-10-2018 12:39 PM

Quote:

Originally Posted by nikki99 (Post 22251386)
Ruth, I have my new card but didnīt activated it yet, it will work or I need to wait for a new one?

Unfortunately it will not work. We will issue you a new card.

Quote:

Originally Posted by SleepWalker (Post 22251453)
Ruth, you stated: " New cards are currently being printed. "

Can we pay to get them sent overnight to us?
Do you know what will be the monthly limit?

Also, is there any possibility that Choice will fix their issue and make the current cards work again?

Thank you!

We currently can not offer any form of express on the new cards. We must issue cards to our current card holders and then once we get everyone taken care of we will be offering express options..

As for choice bank issues - that is something that they will need to speak on.


Quote:

Originally Posted by robwod (Post 22251473)
Ruth, for those of us in Canada, US, Israel and Japan, obviously we have limited options compared to other countries as it pertains to Paxum withdrawls. Is it possible to still wire out to a local bank account in Canada. Or is that option nullified now as well?

I don't have a card. So what exactly are my options here as a Canadian Paxum user? Can you answer these two questions please?

1. Can others still pay me via Paxum?
2. Can I withdraw via Wire to a Local Bank in Canada (TD, CIBC, RBC, BMO, etc)?

Yes people can pay you to your paxum account as normal. The only aspect of our business that has changed is the paxum card itselfs.
You are able to withdrawal your funds via wire to any of those banks you listed.

robwod 04-10-2018 01:09 PM

Thanks for the response.

TrashyContent 04-10-2018 02:11 PM

Ruth...
 
Any chance you can add me to Skype... bangbangsteve please :thumbsup

CaptainHowdy 04-10-2018 02:16 PM

Quote:

Originally Posted by KlenTelaris (Post 22251432)
If it says choice bank on background, you can cut it/throw it.

Quote:

Originally Posted by RuthB
As a result of the news from Choice Bank we regret to inform you that Paxum cards can no longer be loaded via transfer to card. However it is important to note that any funds that currently exist on any Paxum card issued by Choice Bank are fully available and can be used as normal at the ATM and for POS purchases.

Quoting this just in case ...

boneprone 04-10-2018 02:24 PM

My message inbox is blowing up with cam models. So can the models still get money out of these cards? Its just that they will no longer be loaded correct? Or is the money locked/frozen?

Klen 04-10-2018 02:27 PM

Quote:

Originally Posted by boneprone (Post 22251551)
My message inbox is blowing up with cam models. So can the models still get money out of these cards? Its just that they will no longer be loaded correct? Or is the money locked/frozen?

Money on card can be withdraw on ATM.
Money on account can be withdraw by wire and other available methods.

RuthB 04-10-2018 02:32 PM

Quote:

Originally Posted by boneprone (Post 22251551)
My message inbox is blowing up with cam models. So can the models still get money out of these cards? Its just that they will no longer be loaded correct? Or is the money locked/frozen?

Yes, any existing funds on the Paxum card can be used or withdrawn as usual. However no new funds can be transferred to existing cards.

If a model has funds on their Paxum account they can withdraw by the other options we have in place; Withdraw by Wire, EFT, ACH, or to an External Credit or Debit card.

No funds are frozen with Paxum.

boneprone 04-10-2018 02:42 PM

What happens if a cam company has sent fund prior to this issue and the money is in motion or transit on its way already? Will it just bounce back?

Tjeezers 04-10-2018 02:52 PM

Quote:

Originally Posted by boneprone (Post 22251563)
What happens if a cam company has sent fund prior to this issue and the money is in motion or transit on its way already? Will it just bounce back?

The money AFF sent on Monday will be sent back to them, it will not be processed. This is what Dan Epstein told me.

Cheers!

Jel 04-10-2018 02:55 PM

Quote:

Originally Posted by RuthB (Post 22251298)
The restrictions specifically apply to the Withdrawal to External Credit/Debit card option. It is not available to certain countries; USA, Canada, Israel or Japan.

Nor spain it seems

nikki99 04-10-2018 02:57 PM

I am glad I am not paying Colombians via Choice bank

RuthB 04-10-2018 02:59 PM

Quote:

Originally Posted by boneprone (Post 22251563)
What happens if a cam company has sent fund prior to this issue and the money is in motion or transit on its way already? Will it just bounce back?

When a transfer is sent via Paxum it is sent and completed instantly. So any sent payments will have already deposited to the recipient accounts.

If the received funds weren't transferred to the Paxum card prior to today, then those funds can be withdrawn using any of our other withdrawal methods. (wire, eft, ach, external credit/debit card)

No payments will bounce back with Paxum.

RuthB 04-10-2018 03:00 PM

Quote:

Originally Posted by Jel (Post 22251577)
Nor spain it seems

Yes it should be. We also offer EFT withdrawal to Spain.

SleepWalker 04-10-2018 03:26 PM

Hi Ruth,

Can you elaborate one the services listed on PaxumBank.com:
https://www.paxumbank.com/personal/fees/

Are those prepaid virtual cards MasterCard or Visa?

boneprone 04-10-2018 03:32 PM

Ok thanks guys! This has been helpful. I dont think models need to panic and things will be fine as cam providers will find other methods for payment. My concern is that if Models have a lot of money saved in these accounts. Im suggesting they withdraw those funds asap.

They can even let me hold onto it as they find other banking options. I have a Las Vegas holding investment fund, where I can probably double their money.

JJE 04-10-2018 04:10 PM

Are the new cards going to have Paypass or is that just for illustrative purposes?


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