Naturally, in order to use Paxum to send your instant worldwide payments, you will first need to deposit funds to your verified Paxum account. Paxum provides multiple funding options for your convenience. You can learn more about each option below:
Perhaps the most popular of Paxum’s funding methods; the wire option is fast and convenient, and there are no limits to how much you can deposit at one time. There is a $50 USD fee charged to wire funds to your Paxum account, and typically those funds are deposited within 1 business day, occasionally up to 2 business days.
Paxum is Canadian incorporated, so all incoming checks must be sent to our Canadian office for deposit. We accept ONLY Certified/Cashiers Checks, and those funds are deposited to your Paxum account and available as soon as the check is received to our office. There is a $25 USD fee charged to process checks to your Paxum account.
ACH (US Only)
ACH stands for Automated Clearing House, and refers to payments sent/received direct from/to your bank account. ACH funding does require additional verification for security and anti-fraud purposes (one time completion of a simple form with signature, plus a one-time photograph of the officer listed on the account holding their picture ID next to their face). There is a $5 USD fee charged for ACH funding to your Paxum account. Deposit to your Paxum account typically occurs within 5-7 business days. There is a daily load limit of $2,500 USD for Business account-holders.
External Credit Card
External Credit Card is the fastest funding option available to Paxum Business Account-holders. There is a 4.95% + $0.50 USD fee per transaction, with a daily load limit of $1,000 USD for Business account-holders. External Credit Card funding does require additional verification for security and anti-fraud purposes (one time completion of a simple form with signature, plus a one-time photograph of the front and back of the credit card). Deposit to your Paxum account typically occurs instantly.
Direct Processor Payment
Some processors are paying their merchants processing payments directly through Paxum P2P payments. This is a great way to receive your processing payments as you can then simply issue your bulk payments via Paxum without any delay whatsoever. Contact your processor to find out if they’re offering payouts via Paxum. If they’re not already doing so, we’d be happy to chat with them!
Whenever you receive a Paxum P2P payment, the funds are delivered INSTANTLY to your Paxum Checking Account. Just as you send payments to your employees, affiliates, publishers, etc, you are also able to receive payments from companies you do business with. This is a great way to fund your Paxum account quickly and inexpensively since there are never any fees charged to receive money via Paxum P2P payments.
We are always happy to explore new funding methods. If you don’t see a funding method listed that you’d like us to consider, please leave a comment on the blog, or get in touch with us to let us know your thoughts! 🙂