Paxum is interesting in it's terms and conditions.
Quote:
1.1 Paxum is a provider of E-Wallet Service and is a registered Money Business Service in Canada and USA. You agree that:
(a) Paxum is not a bank;
(b) Funds in the Current and Prepaid Card accounts are not insured by any government agency such as FDIC
(c) Paxum doesn't pay interest to Users on funds kept in Current or Prepaid Card accounts
(d) To indemnify and hold harmless Paxum, its agents, affiliates, officers, directors and employees from any claim or demand whatsoever relating to or arising out of User's use of the Paxum system, except for any loss caused by willful misconduct of Paxum;
(e) User understands and acknowledges that Paxum is a Belize registered company and that Paxum follows the laws of Belize;
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I wonder if a Paxum rep can confirm one way or the other whether Paxum maintains 100% of account holders funds in accounts seperate from those for the operation of Paxum ?