Paxum question

[god1717]

Hello, if I am wrong here in general social chat please move me to the correct thread, thanks
So i would like to have a question.
I would like to open a paxum account and dont know if its good or not since there are so many bad reviews on google.
I have read through their Privat policy and all and it is kind of confusing for me.
I tryed to sign me up some weeks ago but they asked me how much money is going to be deposited & withdrawn .. like how should I know that in first place if I start a business today from scatch?
If I type in there $1000-$3000 and get at some point $10.000+ ...do I get then troubles ?
Also their policy read like they are like a bank... are they also reporting to authorities if there is a determined sum on the account or transaction ? I could not find that.
When you deposit on most banks over $9000 I think they automaticly report it.
Also how fast are wire transfers on paxum to the local bank or a transfer from account to their credit card they offer ?
How well do they handle data protection and how long are they storing your data ? And would there be a way when you delete your account there that every data gets deleted?

Sorry for asking so many questions. I hope someone can bring light into this and could help me that have experience with all that and knownledge.
Thank you!

 

[god1717]

bump

 

[Alexion]

I can only comment on the amount of money deposited.

I've used them up until 2015. Moved over $20,000 every month, had no issues with them. The money was from exchanging crypto to their debit card, so I can withdraw. Never had a problem.

Their issuing bank is in belize. They basically don't give a fuck about your money or where it comes from. Unless there's like some really suspicious amounts or smth.

 

[Turbo B.]

It is fine to set a small amount of money transaction at the beginning - later you can change it. Or they will ask for it later if they need it.

About reporting to authorities - this should be started in 2017 - https://www.oecd.org/tax/transparency/AEOI-commitments.pdf
No one knows does it happens in real.

Wire and EFT transfers - 2-5 days.
Card load - instant - but now only UnionPay cards are available, which are not working in most countries.
https://www.unionpayintl.com/cardholderServ/serviceCenter/atm?language=en

About data storing you should ask for their support.

 

[god1717]

I can only comment on the amount of money deposited.

I've used them up until 2015. Moved over $20,000 every month, had no issues with them. The money was from exchanging crypto to their debit card, so I can withdraw. Never had a problem.

Their issuing bank is in belize. They basically don't give a fuck about your money or where it comes from. Unless there's like some really suspicious amounts or smth.

Are you still using it and depisting such larg sums ?
What about if you delete the account how long and what do they store of data ? I dont want that they sell my data

 

[god1717]

About reporting to authorities - this should be started in 2017 - https://www.oecd.org/tax/transparency/AEOI-commitments.pdf
No one knows does it happens in real.

Is this new ? because I cant find it on their website ....kinda scary

 

[Turbo B.]

Is this new ? because I cant find it on their website ....kinda scary

No, not new. Thread about it was in 2017 on GFY forum.

 

[God of Porn]

I used them to receive payments monthly since 2014. Never had a problem with them. Way safer than payoneer or paypal. But their verification system is much more complicated than others. I uploaded a lot of documents there to complete it. So if you dont mind that and high fees, paxum is very good.

 

[solidguy_82]

I am using paxum from last 6 years.
Did not faced any problem so far.
I only used it to receive payment internationally.
And then I did direct funds transfer to my debit card couple of years back, money came instantly. Now I think they have stopped supporting this option. Withdraw to card
I think there are all transparent charges written on website.
I did wired transfer many times to my Indian bank account.
It can take some time but for sure you will get it everytime. I think you should not worry . I think you will worry at beginning then you will get sured you will get after few times.
Overall I will say they are trusted and I have no problems with them although my transaction never reach more then 2k usd.
Although I don't trust any payment wallet anymore. Even PayPal, or any digital wallet. I always withdraw at my bank and I feel money is safe in banks.

 

[god1717]

No, not new. Thread about it was in 2017 on GFY forum.

So are they reporting it or no one knows ?

 

[Turbo B.]

So are they reporting it or no one knows ?

No one knows.

 

[god1717]

bump