Paxum News: ACH Back + EFT Withdrawal Added For Multiple Countries
 

Paxum is pleased to announce the re-implementation of ACH/EFT loading and withdrawal for USA customers!

In addition, we are also proud to introduce EFT Withdrawals for a number of International countries at this time. Please view the complete list below:

Australia, Austria, Belgium, Finland, France, Germany, Holland, Hong Kong, India, Ireland, Japan, Mexico, Poland, Russia, Singapore, Spain, Sweden, Turkey, Ukraine, United Arab Emirates, and United Kingdom.

EFT stands for Electronic Funds Transfer and this option will enable Paxum clients to withdraw their Paxum funds directly to their bank account in the specified countries. Along with our standard withdrawal methods; Wire, Check, To an existing credit card, and to the Paxum Mastercard, we hope this new withdrawal method will prove useful to our International clients.

We have more exciting additions coming soon! We appreciate and value your business and look forward to serving your payment needs during 2012 and beyond!


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As always, we are open to feedback and suggestions. Please feel free to contact us with your thoughts through the Message Center in your Paxum Account Control Panel, or by commenting in this thread.

If you require personal assistance with your Paxum account or have Paxum related queries, please feel free to contact me directly:

ICQ #233-854-608
AIM/YM/SKYPE - PaxumRuth
Email - [email protected]

Ok so i can now for 5$ withdraw money?

Withdrawing Funds in Philippines takes 7 to 10 banking days? Is it available in the country which is local bank transfer? The same in Payoneer?

Klen; the fee for International EFT Withdrawal is $8.95 USD

journalism; We do not currently offer EFT Withdrawal to the Philippines. We do have Wire, Check, To an existing credit card, and to the Paxum Mastercard as alternative withdrawal methods for Philippine customers. Thanks for your interest :)

great stuff .bump 4 PAXUM

Great news, thanks :)

Great, thanks Ruth

Nice news !

Great news :winkwink:

Good to hear

Congrats Ruth, Paxum rocks!

Thanks everyone! We've got more updates coming soon! :thumbsup

why not Canada :(

Good news!

Cool feature!

What is the wait time for the ACH to go through? How much is it to US customer?

Bumpin' ...

WHAT ABOUT
http://www.pch.gc.ca/pgm/ceem-cced/i...anada_flag.gif

Great news!

Same question.

Your offices are located in Canada?

Canada was not in the most recent update, however we will be adding more countries over time for EFT International withdrawal.

ACH for US Customers is $5 for loading and $5 for withdrawal. It typically takes 5-7 business days for funds to be received on either end.

Yes. Our offices are located in the province of Quebec in Canada. :)

How long time does a EFT take? Usually takes ~5 biz day's for a wire for me right now.

Nicky, it usually takes 5-7 business days for EFT withdrawal to be completed. It's $8.95 per transaction for International EFT.

Ok, will continue to use wire I guess since It's the fastest time I'm after, don't care if It costs $50 or $9 :)

Really nice addition.

Bump for Paxum, and ofcourse for Ruth.

Good stuff Ruth and great seeing you in LA and Vegas!

Now there is an extra option I like!

Hope you get Canada in there soon!

Sounds good. That's why we have multiple options, so you can find the right one for your needs :)

Thanks! :thumbsup

It was awesome meeting you AND your guns Poppy! :Graucho

:thumbsup:thumbsup

Thanks. We have more updates coming soon!

Thanks from Sweden.:thumbsup

:thumbsup :thumbsup

Congrats !

Cool :thumbsup

Cool congrats :thumbsup !

OK Ruth, great news! But... I am in Ukraine, so how is it really different from usual wire ? I mean this EFT ?!

I tried to go to both menus (EFT, wire) and it require for me on final steps to enter absolutely similar details of banks account.

EFT is cheaper ? Available in local currency or what ?

For now I am using withdraw to debit card, cause it's cheap - 1%, min $6 and no incoming fees for me and spend it right away for ads.

In my country we usually use SWIFT wire and that's it. I always thought EFT = ACH, but in Europe.

Also why wire says 3 days and this 5-7 ?

bump for this incredible news from Paxum :)

This is good news.

Hi seolinker,

Yes, EFT is basically ACH, but in Europe and International countries.

The International EFT Withdraw fee is $8.95 USD, so it depends on how much you are withdrawing each time as to whether it's more cost effective for you to continue to use our withdraw to an already existing credit card, or start using the EFT.

EFT takes 5-7 business days. Wires are 3-5 business days. We use a 3rd party provider for our EFT option and we have no way to shorten the amount of time it takes for the process to complete.

Yes you are required to provide us with your bank account details in order for us to be able to complete the transaction. There is a slightly different verification process for EFT bank accounts, and that is why the account must be added under the EFT section seperately from wire withdrawals.

I hope this explains the difference. If you have more questions though, please feel free to ask away!

Thanks for choosing to use Paxum, we appreciate your business!

Ruth :thumbsup

While it sounds like a nice feature, EFT does not include SEPA/IBAN transfers for the EU, right?

No, I believe SEPA/IBAN is a feature available only for wire transfers, but to be honest I'm not that well versed on the topic so I could be wrong about it's limitations.

I do know we were looking into providing SEPA wires for our EU customers, but we don't yet have anything in place.

So EFT do not use IBAN and SWIFT codes ?

It all depends on where you are located and the type of information your bank provides for it. When you add a bank to your Paxum account for EFT Withdrawal, you will need to complete a form. All required information is listed on that form.

The question previous to this in this thread was discussing a special setup they have in Europe for sending/receiving wires, not necessarily relating to IBAN/SWIFT codes.

Great News finally loved to see EPT transfers provided after PayPal :)

Nice more and more of my clients are using Paxum to pay me. Always nice. Thanks!

:thumbsup

That's great to hear! Thanks Fletch! :thumbsup