Review Paxum and PaxumBank review

[jeremielp]

I had a very bad experience this company. Just want to let people know so that they don't spend too much time.

The percentage of fees appeared low when comparing with other providers, so I tried. But in the end, the time wasted in dealing with their poor support service does not compensate the savings you are going to make.

They have 2 branches:
- PaxumBank.com that deals with US Corporations.
- Paxum.com for personal accounts and non US Corp

I tried both. PaxumBank.com takes them approximately 2/3 weeks to reply to an email, does not reply to the phone and has no online support service. I thought. Do I really want to send money to a company that takes 3 weeks to reply?

So I gave a shot to Paxum.com because they had a chat support that appeared a bit more responsive. They sent me initially a list of required documents. Then, their support kept inventing reasons to ask for new documents, when not just blatentely lying. I got excuses like "this rental contract has expired", while the rental contract clearly states that it is automatically renewed on a yearly basis. They told me "you should ask your landlord to renew the contract". Yeah, sure...

Then, even worse, 2 lies in a row within 5 minutes of chat conversation about a bank statement 1) "the statement you sent us does not show your address" => I send a screenshot of the document with the address highlighted. 2) "This is not the document you sent us" => I send a screenshot with their email containing the file name and the PDF reader showing the same name. 3) "We do not accept this financial institution." was the final excuse.

At the end, I send them 5 documents showing the same address in the same country, and they rejected all of them, while I got the same documents accepted by several large financial institutions all over the world.


Then only thing they were fast about is to close the account. I asked the account to be closed a 8:28am. It was closed at 8:32am. They are probably not interested in affiliate marketing business.

 

[Graybeard]

I tried both.

Why?
You are either a US entity or you are not.
Exception being you are a registered US foreign corporation in some state with legal nexus.

If you are legit contact Ruth, she has been with Paxum since the beginning

Ruth B Paxum

Ruth B Paxum is on Facebook. Join Facebook to connect with Ruth B Paxum and others you may know. Facebook gives people the power to share and makes the world more open and connected.

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Paxum deals with the porn and adult segment and there are many issues in KYC and content with VISA-Net. They can be problematic at times and have had to move their operations to 'more friendly' legal jurisdictions.

 

[jeremielp]

Why?
You are either a US entity or you are not.

Well, one can have several companies in various juridictions.

In my case, I tried PaxumBank.com with my US corp. As PaxumBank was not replying, I asked Paxum on the chat if i could open a personal account with Paxum.com. They said yes, which is why I moved forward with them.


Thanks for the contact, but they were such a pain in the ass to deal with that I am no longer interested to work with them. I'd rather pay a bit more with Payoneer or use wire.