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CNNMoney recently broke the news that PacNet Services Ltd, is currently under investigation by the US Attorney General for global mail fraud.
Paxum would like to inform and reassure its clients that Paxum has no direct affiliation with PacNet Services, now or in the past, and we are very surprised by the situation.
Paxum only used Chexx Inc (PacNet) as a third party payment provider for Check and EFT Withdrawals, and as a result of the allegations and current US government investigation, we have ceased all business with Chexx Inc.
Unfortunately, as a result of this situation, Paxum has been forced to cancel all Check Withdrawal operations for the current time. We do not yet have a timeline for its return. EFT withdrawal will be temporarily unavailable until we move to a new processor.
Wire withdrawal will not be affected, and ACH withdrawal (withdrawal to US banks) is also unaffected.
We are currently in communication with Chexx Inc to determine which payments have already been issued, and which are pending. Upon receipt of this information we will return correct balances to all affected accounts.
We greatly appreciate your patience and understanding at this time, and we apologize in advance for any inconvenience caused as a result of this unexpected situation.
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