Paxum – New Cards On The Way!
 

On April 9th 2018 Choice Bank Limited informed its customers that Choice Bank had been forced into a constrained position by the regulatory authorities. 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.

It is important to note that Paxum was only MINORLY and TEMPORARILY affected by this situation.

The only change in our current business is that Choice Bank issued Paxum cards can no longer be loaded. Any existing funds on the cards can be withdrawn as usual at ATMs or by using the card for POS purchases.

All other aspects of Paxums business are operating as usual; transfers, withdrawals, adding funds, creating new accounts, etc.

Paxum has finalized a backup card and new cards are currently being printed. There will be no additional cost to existing card-holders for the replacement card, and everything should be completed within 4 weeks.

In the meantime, after a non-stop effort to secure a faster solution and in response to the overwhelming influx of recent new Paxum account-holders switching their business to us, Paxum has secured temporary replacement cards that will be issued to customers as early as next week! These cards will be automatically provided to existing card-holders at no additional cost as well. Card status updates will be visible in accounts beginning next week.


The limits for the temporary card will be $2,000 USD loading per day and $20,000 USD maximum loading per month. The highest balance allowed on the card is $5,000 USD which is fully available for POS purchases at any time. Clients can also use the card for ATM withdrawals up to $1,000 USD per day. Those will be temporary limits and will be increased later.

Paxum will focus on verifying all new clients as swiftly as possible. Then, in a few weeks, we will issue our regular logo branded Paxum card again at no extra cost for existing card-holders. The regular Paxum card will have higher limits than the previous Paxum card. Please log-in to your account from time to time to check for new announcements as we will update clients of our progress.

Paxum offers multiple withdrawal options (Swift Wire, EFT/ACH, External Credit/Debit Card, and Transfer to Other Accounts), instant payments worldwide, and we still offer instant withdrawal so clients can continue to access their funds while awaiting a card replacement.

Paxum payment solution has always been more than just a card. We treasure the relationships we have made with our many valuable customers, and we sincerely appreciate the continued support you provide. We look forward to seeing our customers at upcoming conferences and events, and we would like to once again thank you all for choosing to use our payment solution for your payments. As a Paxum customer we consider you part of the Paxum family, and we look forward to serving your needs into the future.

I really hope you guys finally got your shit together.

Very nice looking card btw :thumbsup

I will definitely replace my old card. Looks like a Platinum elite card.

Don't forget, there is also EFT and instant loading of other cards. Plus wires.

I hope paxum rule the world , for every sponsor to get paid via paxum

That's great news!

Great :thumbsup

Sounds great!

:thumbsup:thumbsup:thumbsup

I think RuthB should be nominated for Business Person Of The Year. It cannot be easy apologizing on a daily basis and asking forgiveness for a living.

:thumbsup

THANKS RuthB! Only You deliver good news for now! :thumbsup

So let me please understand .. if we get a payment that is 5000 USD where those money go ? The payment get refused?

I understand that you will have a temporary card now ( will be shipped to new customers in 4 weeks ) then again you will switch to your own card ( I suppose this also will be shipped again ? ) and this new card again will have higher limits? Thanks for the eventual answer .

I could be wrong but i think you can only put 5k onto the card at a time. Your paxum acct could hold more

Exactly this.
When you receive money via Paxum, the received money goes into your Paxum checking account.

Then you, all by yourself, need to fund your card account, from you Paxum checking account. So you choose an amount to transfer, from the checking account and onto your card or card account.

Only after such a transfer, you will be able to use your card at the ATM or for store purchases.

I'm sure, this is correct.

The limits for the temporary card will be $2,000 USD loading per day

Good news Ruth, will we be sent the new cards automatically, or must we make a card request through support?

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great news :thumbsup


That's for sure!

Will money currently on Choice bank card be moved to new card?

Paxum Statement Regarding Choice Bank

Can you pay whatever snotgoblins you use to verify accounts an extra rat burger today so I can get my account finally verified and receive money?

Thanks.

What Bank you choose now?

As I stated before that is a slick-looking card, Ruth!

Is it true US people can't send funds via paxum anymore?
I haven't use paxum for a while so don't know any paxum news, btw cool black cards

omg, shut the fuck up if you don't know shit :321GFY

It doesn't answer my question, it says the funds on the old card can be used, doesn't say if there is the option of NOT using that card and get the funds moved to the new card, so we can use the funds with no hurry, i feel unconfortable having to literally 'run' to the ATM to withdraw those funds in cash, i'd prefer to have then available online in the new card

I understand, but I don't think it will be possible.

Good news :)

:1orglaugh:thumbsup:thumbsup

Thanks Ruth, I think its great news!

That's great news! Good job team Paxum.

Brad

I am not Ruth, but it is obvious that no, this will not happen. The money you have on your current card can only be spent or taken from ATM. ChoiceBank who managed your current card has nothing to do with the new card you'll get.

Man, come on, if you are a currently Paxum customer you shouldn't even ask this question. This is not FCP where the money was getting loaded to cards automatically.

When you receive a payment via Paxum it gets to your paxum account, not to your card. It is only after that you can withdraw any amount any way you want including by using Paxum card.

cool :thumbsup

great news Ruth!

This is great news!! The increase in monthly limit is great, I'll finally be able to pay for all my advertising expenses.

Ruth, Question, please answer, this is important:

Can we open a support ticket to pay for courrier shipping of the replacement temporary card like it was previously possible to do with the former card?

Thanks!

shipping was never a problem,
printing time take the most time.
so you want pay around 90 usd for express delivery and get your card 5 days faster ?

yep, I am spending a few 100s a day in advertising. Time is money :thumbsup

I subscribed Paxum but never used them and still do not have a card but I think I will have to use them, we will see hopefully they will offer an excellent service like FCP.

Ah! yes if you were using FCP Paxum is your best bet now I think.

I hope, let's see.. the only thing I could complain about FCP was the terrible currency rate when I cashed Euros at ATM, beside that I wished they stayed alive..

waiting for the crying

That's Great News! Thanks Ruth & Paxum :thumbsup

Obviously Choice Bank has no relationship with the new card, but paxum does

Paxum may have the option to recover the funds from the old card and sending them to the new card, it was paxum who sent the money to the card (by user request), maybe there is a mechanism to clam them back

Forget about what I said, I tried with another provider and it worked

Question for Ruth....

I still have about 175 USD on my Paxum Card, not a biggie, but still a nice Dinner with the girls ...

I had the brilliant idea to forget my Paxum card in a New York restaurant on my way back from the Lisbon show (Vlad cancelled/suspended it for me), so I can't access these funds anymore. I guess some others might also have cards that just expired lately..

So my Question is; Are these funds will be transferred form the old cards to the new ones about to be delivered ?

Thank you Ruth, I understand you must be terribly swamped at this moment and you do your very best to help everyone :thumbsup

Hi Michael,

I'm sure something will be done to retrieve the funds on expired or cancelled cards. I'll send a query and let you know.

Thanks,

Ruth :)

Wishing it could be from active cards too, i'm losing my trust on Choice card but don't need to purchase anything big enough to spend it