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Originally Posted by RuthB
I wanted to address a couple of things that have been brought up in this thread and seem to be points of debate and confusion.
Chargebacks
Overall, chargebacks on the Paxum Mastercard are rare. Typically we only encounter a chargeback every few weeks where clients are required to pay the $40 bank-imposed fee.
Choice Bank has the Chargeback fee in place, NOT Paxum, and this can be confirmed to anyone by simply calling Choice Bank directly. You don't need to 'take our word for it', you can verify for yourself to see that we are telling you the truth about this fee being charged by the bank.
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So really what you're saying is that Paxum customers will lose $40 for every fraudulent transaction on their card and there is zero protection for unauthorized transactions under $41 and only 50% protection for an unauthorized transaction of $80.
Payoneer do not slug cardholders with chargeback fees, most institutions don't.
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Sadly credit card theft is a worldwide problem. It is not something isolated with Paxum. I'm sure if you had a Bank of America credit card that was hacked, stolen, or frauded in some way, that you would not blame Bank of America for the fact your card was stolen, nor would you suggest that Bank of America must have a problem and become panicked. Hopefully our GFY clients can relax a little and see that, though this is not an acceptable situation, Paxum is not responsible for the violation itself, and we are seeking to assist our client as best as possible to recover his funds.
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Bank of America won't charge their customers outrageous fees to recover unauthorized charges.
With all due respect Ruth, you've just insulted the intelligence of every customer you have with this naive and self serving post.