Paxum Schedules Update To Wire Withdrawal Process
 

On Tuesday, June 11th, 2019 Paxum will be updating its Wire Withdrawal process to make it easier for clients to withdraw funds directly in multiple currencies. Verified Paxum clients will be able to take advantage of the ability to withdraw funds in their local currency, if preferred, instead of in USD, EUR or GBP.


The following currencies will be supported for Wire Withdrawal in addition to USD, EUR, and GBP:

AUD = AUSTRALIAN DOLLAR

CAD = CANADIAN DOLLAR

CHF = SWISS FRANC

CZK = CZECH KORUNA

HUF = HUNGARIAN FORINT

SEK = SWEDISH KRONA

NOK = NORWEGIAN KRONE

THB = THAI BAHT

DKK = DANISH KRONE

PLN = POLISH ZLOTY

NZD = NEW ZEALAND DOLLAR

INR = INDIAN RUPEE

IDR = INDONESIAN RUPIAH

ZAR = SOUTH AFRICAN RAND

RON = ROMANIAN LEU

http://paxumblog.com/wp-content/uplo...wal-update.png


Paxum clients who withdraw in local currencies will also enjoy a lower withdrawal fee. The new Wire withdrawal fee structure will be as follows:


USD = $50 USD

EUR = $40 USD

GBP = $25 USD

Withdrawal to any of the added currencies = $25 USD

(CHF CZK HUF SEK NOK THB DKK PLN NZD INR IDR ZAR RON AUD CAD)

Paxum recommends that clients check with their bank prior to initiating a withdrawal in a specific currency to ensure their bank supports receiving wires in the selected currency.


It is very straightforward to use this method.


1) Add bank account details specifying the local currency.

2) Visit section Withdraw Funds >> Withdraw Funds by Wire

3) In the From field select the account you want to withdraw from.

4) In the To field select the bank account you wish to withdraw to.

5) Enter the amount you want to receive in local currency, allowing for the fee, or click 'Maximum Amount' next to the amount field to withdraw the highest amount possible.

6) The interface will display the converted amount on screen prior to submission.

7) Submit the request.

8) After validation, the wire transfer will usually reach your bank account within 24-48 hours.


Paxum is happy to upgrade its Wire Withdrawal services to include more currencies and to introduce lower fees. We continue to strive to provide the best payment services possible to our valued clients.

:thumbsup:thumbsup

Some questions:

1. Does this mean that USD currency WIRE withdrawal works again in Europe?

2. So the currency you set when adding a bank account to Paxum completely determines the currency used for wire withdrawal?

3. Can you add the same bank account multiple times with different currencies?

4. So for EUR currency withdrawals, both EUR WIRE WITHDRAWAL with $40 fee and EUR EFT WITHDRAWAL (SEPA) with $5 fee are available?

good news :)

but.. i'm still waiting my paxum card... more than 1 year waiting :S

Good stuff, Ruth :thumbsup . . .

Waiting for card here as well and, Ruth when are you going to put back the PHP withdrawal ?

Looks great Ruth :thumsbup

:thumbsup :pimp

Not yet, but we should have that back in place soon. In the meantime we still have EUR and multiple European currencies as well, as you can see shown on the list in the original post.

That's correct.

Yes, though we definitely urge you to confirm with your bank first that you can withdraw in the specified currency. Also, your bank may have different intermediary bank requirements to receive in certain currencies, it's always a good idea to check before you enter the information into your Paxum account. When incomplete or incorrect bank information is provided it can result in delays and/or rejections/returns.

EUR EFT Withdrawal is available to selected countries only. You can find a link to the full list inside your Paxum account in the Withdraw Funds section.

When will EFT come back to USA?

Last wire initiated on Monday, received earlier today, less than 48 hours :thumbsup

Great news :thumbsup

Just did my first wire for $25 paxum fee :thumbsup:thumbsup:thumbsup

indeed ! :thumbsup

http://fubarwebmasters.com/galleries...946/z07095.jpg

My Dick like a Mountain

Great news, can't wait for more currencies to be added.

good news ! :)

got it this morning :thumbsup took 5 days with weekend include.
BTW my bank did not take any wire fee this time :2 cents: ( only paid $25 paxum fee )

I like the way Paxum Making Moved by Trying hard to deliver Paxum service to all users with a reasonable fee :thumbsup

I got my first ever wire from paxum to a Canadian bank today
 

I got my first ever wire from Paxum to a Canadian bank today. It took exactly 2 business days excluding the weekend and the fee was $25 usd so not bad. :)

I submitted my withdraw nearly 48 hours ago, and it still hasn't been validated. (ie: it hasn't even been sent yet)

It seems a staff member has to review and approve the withdrawal request. Why?

Paxum doesn't work with USD bank accounts.....
 

In April 2019, USD wire transfers to European USD bank accounts were working fine. But now it is not..... After submitting the wire transfer form, it says:
We have a European USD bank account, so we need this feature back again asap.
When are you expecting that this feature will be back again?

i've had to pay out $50 wire fees two months in a row plus bank wire fees. c'mon Ruth when is paxum allowing US ETF's again?

They're probably shopping around for a processor right now.