No Paxum card? REAL solution inside.
 

I've had thousands of dollars sitting on Paxum for the last few months because I haven't received the new card since the last one went tits up a few months ago. What's more, the new card has rubbish limits and high fees: I live in Australia, so the whole process of getting money to me is a pain in the ass, but I found a solution.

Let me explain.

There's an online service called TransferWise, which is basically trying to be a global banking service for people to utilize instead of the current, shitty systems. TransferWise has a Borderless transaction account, which essentially allows you to open a bank account in Australian Dollars, US Dollars, Euros and British Pounds for deposits.

Here's what I did to get my money from Paxum in the USA to my Australian bank account in just a few days...

Step 1: Open TransferWise Borderless account in the USA

https://i.imgur.com/R3GGGHP.png

I had my ID automatically verified, so it really shouldn't take you too long to have this sorted out.

Step 2: Set up your bank details with Paxum

Simply log into Paxum, add a new bank account and fill in all the details from the Borderless account data as it appears in the image above. You don't have to fill in the SWIFT code, just set the Bank Country to the USA and put in your account number/ABA Routing Number (this appears in TransferWise as your ACH Routing Number). Like this:

https://i.imgur.com/vvJtm88.png

Step 3: Withdraw from Paxum via EFT

Next, go into Paxum and withdraw via EFT to your new bank account. I don't know if there's an upper limit on the amount you can withdraw, but I successfully withdrew thousands of dollars just now, so it seems to be pretty high.

It took 2 days for me to receive the money into my TransferWise account. I've heard that it can sometimes take up to 4.

https://i.imgur.com/AsQpnA3.png

Step 4: Convert Currency into your local currency and withdraw from TransferWise

Banks always want to fuck you in the ass when it comes to currency conversion, but TransferWise give you a solid deal. What I typed into Google was what I got: $1.35 AUD per $1 USD. They charged me $0.24 for this transfer. It seems that they use the mid-market rate and just take around 0.5% - banks here in Australia would do the same thing for about 2-3%, plus the wire transfer fee (and time).

Once that's done, you just withdraw the money to your local currency account - it took me a few hours here in Australia, but that's because the banks started to cooperate a bit better on transfers this year.

So in total, around 72 hours for getting my money out of Paxum and into my local currency account, paying basically nothing to do it. Transferwise allows you withdraw money in 40 different currencies, including AUD, GBP, CAD, Dirhams, HKD, Shekels, Yen, Dong and more.

Okay, so lecture over. If you want to join TransferWise, you can click here.

If you found this useful and want to compensate me, you can use this affiliate link. It DOES benefit you: you'll be able to make a $500 international transfer with no fees. The standard link doesn't come with that!

Regardless, I hope this helped, and if you have any questions, let me know - this saved me one massive headache.

someone already spammed it... why don't you use some other withdrawal option that Paxum offers: wire, EFT, instant credit/debit card load?

Oh, and for anyone thinking that this could easily be solved with wire transfer, here's what happened three years ago when I tried an international wire transfer with paxum...

https://i.imgur.com/4bZdH9V.png

Over two months and Paxum kept a hold of almost $7k. I gave up in the end and just withdrew it all via card. Losing about 5% in the process because of the bank rates.

See above for why I won't do a wire transfer again. I actually just checked, Paxum will give me $1.31 AUD for every USD, TransferWise gives me $1.35. That's an extra 40 bucks every $1,000., plus Paxum charge a flat $50 USD wire fee (and take 2-3 months to actually sort their shit out).

EFT: that's exactly what I'm using: TransferWise is just a great way to open up a USD bank account and offers instant, low-fee local currency withdrawal.

Instant credit card load doesn't work with Australian cards. I tried four different ones.

That was really informative :thumbsup. This sounds like a relief for those whose only option is plastic.

Sounds like a great way for folks who still have their money stuck on Paxum accounts.
However..something tells me that someone from PAxum will read this as well..and since their interest is to keep the money in their accounts...they will do whatever possible
to prevent this from happening.

Bump for some useful info

thank you, very informative

Those options are not available to every country. I'm in Canada and my options are limited to Wire and the Paxum Card. There is no EFT option, or withdraw to credit card option. I don't have a Paxum card. So, in my case the only option is a wire.

At $50, it makes very little sense to withdraw anything less than a minimum $1,000. For some people, especially smaller affiliates, I suspect it would be cost-prohibitive to use the wire route. As for myself, I just include the fees with my tax returns, not unlike any other service fees incurred during the course of doing business.

I get crypto payments on CEX and convert to fiat right there, they transfer it to my bank in only 1 day with 4$ fee... I don't really use paxum since I have that option, I'm in Europe though I don't know how they cooperate with Australian banks

Most bank in America will kick you out if they find out your are getting a wire from anything related to crypto.

Very useful but..
Acceptable Use Policy:
1.2 We do not provide our Services to businesses or support transactions which involve:
(f) adult content;

As I understand, OP suggests getting US EFT (aka ACH) from Paxum... I thought that's not available at Paxum anymore?

Thankfully none of the Paxum money I'm withdrawing was from adult-related projects. Does anyone earn any money from adult any more? :thumbsup

Thanks :)

transferwise is a good solution when desperate, I used it only once, BUT, they dont´t approve porn, so if u use it constastly maybe not a good idea

also for 3rd world countries like me , after 1st wire to USA bank account u need to process another international wire to your sri lanka country so is a solution but desperate

Ouch, that hurts . . .

how transferwise can know if it´s adult or not adult?

they can't unless the company where you send the money is called "adult something ltd.."...

transferwise is fucking amazing :thumbsup

Im still waiting my paxum card..just started to dream the card

I just wanted to address this, as this suggestion is inflammatory and incorrect.

From Paxum's perspective we need to ensure that the name and associated address match for a withdrawal to pass through successfully. Beyond that we don't really care what bank you use to receive your wires, the crucial aspect is that the verified information match.

Thanks :)

You might be right..but "the crucial aspect" is that there are now many months of constant complains about Paxum that makes some of us think twice before we do business again
Not that i've done too much, but there are others who did and still do( or at least they try through all the daily issues that occur with your services )

Cheers

<3 <3 <3 . . .

Yes, loads of it.

Can't understand why you don't just wire or EFT the money into your local bank and not use the online service as a go between?

Do people not read threads before they reply?

I mean, the second post points out the following:

1. I once waited two months for a $7,000 international wire transfer that never arrived
2. Paxum charges $50 USD flat for an international wire transaction
3. Paxum takes around 3-4% for every foreign currency conversion
4. The average waiting time for international wire transfers is longer than ETFs/TransferWise

Four pretty good reasons why this service is better. It all boils down to my solution being quicker - and MUCH CHEAPER - than what Paxum offer. A $5,000 wire via TransferWise gives me around $300 more in USD than I would have gotten if I did a wire transfer... and it'll all be done in 5 days, at most.

You saved my day. Have linked my Paxum mastercard to my Paypal for daily routine (domain names, freelancers, hosting) only to see they charge $1 per transaction.

I hope this solution work, I just tried a first amount with $1250 will see when I can get that used. Also ordered the transferWise card.

TransferWise Borderless account in the USA is no longer available, at least for me.. I can only create an euro (germany data) pounds (UK) or australian / new zealand USD.

Will it work with some of them? what about the fact that my address is in another country, isnt that a issue for paxum to validate the bank info?

So it's not possible to do this anymore? :\

You are in USA? Or you want them to open an USA account?

paxum still works?

ya, it's working. But paxum to transferwise not working anymore

There are only a few adult friendly EMI's on the market :-(

cause transferwise do not like adult

brilliant method , but did not last long .

paxum is like old man without viagra, the only real solution to start taking it .