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Originally Posted by epitome
In the US, FDIC only insures $100k per account (I think they temporarily bumped it to 250k when they had the financial crisis and it may still be there). Are you saying that the Canadian government guarantees every single dollar in every bank account?
I find it hard to believe that there is not some kind of cap. So if Paxum ends up with $50 million in wallet spread out over one or more accounts, all $50 million will be insured?
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We are insured up to $100k by the Canadian Government. Throughout history there has never been a Canadian bank going belly-up and out of business.
Canadian banks are very strongly regulated, with only 9 major banks in the entire country (and Canada is the 2nd largest country in the world (by land mass))!
The Bank of Montreal is one of the biggest Canadian banks and the risk of the bank itself going out of business is incredibly small indeed, in fact it's only really likely if there is a full world economic collapse. And if that were to happen, money would probably be quite worthless by that point anyways!
Quote:
Originally Posted by OneWhoKnows
I was already wondering why it is exactly the amount of yearly fee for the MC if I count it together... Time for coffee break, Ruth? :D
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hehehe.. perhaps, or maybe I've been drinking too MUCH caffeine!
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Originally Posted by Chris
We don't allow her to take breaks  |
come closer and say that ....
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Originally Posted by Naughty-Pages
well, for me fees don't even matter if they do not have P2P....
so if limited to just those 2, i would have to go with Paxum due to Payoneer not offering p2p...
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Sounds great! It only takes minutes to sign up with Paxum, and after you're verified (within 24 hours, often a lot faster) then you can request your Prepaid MC and use the full service straightaway!
Let me know if you need any help!
