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Thread: Has anyone had Paxum just suddenly close your account?

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    Veteran Member BlondebombGA's Avatar
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    Default Has anyone had Paxum just suddenly close your account?

    Ugh, Paxum royally screwed me this week considering I already have 2 payments going to them. I am just coming back to work after some time away and signed into Paxum to make sure everything was still ok to send payments to them. I was notified that I needed to resubmit my passport since it had just expired and I went ahead and changed my address with them as well since I have moved since last using them.

    All of a sudden my account shows as closed! And after countless emails with them I get this...

    "We were notified that this account can no longer remain open, however, you can continue our relation by opening an account with Paxum Bank (www.paxumbank.com).

    Other details aren't available at the moment. If or when they will be we will provide them for you."


    WTF? And why would I want to open a bank account with you if I can't depend on you?

    Do they have a rep that checks in on this site?


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    Default Re: Has anyone had Paxum just suddenly close your account?

    what sites are you on to receive paxum? may be a site issue?

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    Veteran Member BlondebombGA's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    It's for AdultWork.


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    Default Re: Has anyone had Paxum just suddenly close your account?

    Pretty sure paxumbank is not related to paxum. Are you sure this isn't a phishing scam?

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    Veteran Member BlondebombGA's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    Nope, this is through the Paxum account which I can no longer log into, and I even called customer service and got the whole...we have sent this to some other dept to be looked into. At first they even said that it was showing that I was the one who closed the account. I liked them because I could just get a deposit into my bank and not deal with the whole credit card thing of the other processors. I guess I have to go back to waiting on checks.


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    Default Re: Has anyone had Paxum just suddenly close your account?

    Quote Originally Posted by BlondebombGA View Post
    Nope, this is through the Paxum account which I can no longer log into, and I even called customer service and got the whole...we have sent this to some other dept to be looked into. At first they even said that it was showing that I was the one who closed the account. I liked them because I could just get a deposit into my bank and not deal with the whole credit card thing of the other processors. I guess I have to go back to waiting on checks.
    Paxum is located in Canada, paxumbank is located in Dominica. If they were the same company, surely they'd be operating from the same country?

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    Featured Member KatyBoleyn's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    Not necessarily. Paxum has been shuffling their official HQ's all over the world for the last few years. Monday we'll try to figure this out. The situation described above doesn't make a lot of sense and is cause for concern. There's 2 possibilities:

    1) The account was compromised in some way by phishing, so Paxum just shut it down.
    2) Paxum doesn't want to deal with a particular country...and if that's USA then we may have an issue.

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    Default Re: Has anyone had Paxum just suddenly close your account?

    Quote Originally Posted by KatyBoleyn View Post
    Not necessarily. Paxum has been shuffling their official HQ's all over the world for the last few years. Monday we'll try to figure this out. The situation described above doesn't make a lot of sense and is cause for concern. There's 2 possibilities:

    1) The account was compromised in some way by phishing, so Paxum just shut it down.
    2) Paxum doesn't want to deal with a particular country...and if that's USA then we may have an issue.
    Since Paxum is located in Canada they are part of FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), an intelligence unit to help combat money laundering.

    Paxum bank on the other hand is an offshore bank account. So something doesn't appear quite right here?

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    Default Re: Has anyone had Paxum just suddenly close your account?

    Hey blonde, I just sent you a PM that might help you.
    “Your heart is my piñata.” - Chuck Palaniuk.





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    Featured Member KatyBoleyn's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    Quote Originally Posted by winnipeg View Post
    Since Paxum is located in Canada they are part of FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), an intelligence unit to help combat money laundering.

    Paxum bank on the other hand is an offshore bank account. So something doesn't appear quite right here?
    I think they still have a Canadian office and are making claims to be Canadian. They also have a branch office or shell in San Francisco. Currently they are HQ'd in Belize, after being either Panamanian or Cypriot for a brief moment (can't remember, its been a while). They do have tacit agreements with Canadian, EU, and US authorities for money-laundering tracking. They share an off-shoring office with quite a few other companies, which is normal for these kinds of things. PaxumBank appears to be under a very similar scheme and HQ'd in a country where the capitalization requirements to start a bank are extremely low ($1mil in assets compared to about $25mil to legally capitalize a new bank in the USA).

    In fact, their only Canadian address is a PO Box at a UPS Store in Quebec.

    We're looking into it Monday, until then I'm withholding further judgment on the legitimacy. Some research does turn up Paxum having several other "offshoot" business ventures, including a bitcoin exchange thingy. I wouldn't put their bank thing out of possibility. The problem is the strong-arming to close a model's account and then making them use their new business when the old one is still perfectly viable.

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    Default Re: Has anyone had Paxum just suddenly close your account?

    Quote Originally Posted by KatyBoleyn View Post
    I think they still have a Canadian office and are making claims to be Canadian. They also have a branch office or shell in San Francisco. Currently they are HQ'd in Belize, after being either Panamanian or Cypriot for a brief moment (can't remember, its been a while). They do have tacit agreements with Canadian, EU, and US authorities for money-laundering tracking. They share an off-shoring office with quite a few other companies, which is normal for these kinds of things. PaxumBank appears to be under a very similar scheme and HQ'd in a country where the capitalization requirements to start a bank are extremely low ($1mil in assets compared to about $25mil to legally capitalize a new bank in the USA).

    We're looking into it Monday, until then I'm withholding further judgment on the legitimacy. Some research does turn up Paxum having several other "offshoot" business ventures, including a bitcoin exchange thingy. I wouldn't put their bank thing out of possibility. The problem is the strong-arming to close a model's account and then making them use their new business when the old one is still perfectly viable.
    After doing some more investigation, looks like they are the same company! Be interesting to see what they say on Monday.

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    Veteran Member BlondebombGA's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    I just emailed [email protected] I'll let you know.


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    Default Re: Has anyone had Paxum just suddenly close your account?

    From what I understand Paxum has created another entity (Paxum Bank) to overlap with Paxum, as different locations have different rules/systems for how and where peeps can send (or receive) funds. Both Paxum and Paxum Bank are the same entity, think of Payoneer and First Choice as a good comparison (different companies owed by the same peeps that cover different aspects of the market). So far the peeps who've contacted me asking about this were all in the US, I'm not sure at this point if other jurisdictions/nations are affected.

    I don't think was handled well in terms of abrupt notices of account closures without any real info as to why though.
    I will not have my life narrowed down. I will not bow down to somebody else's whims or someone else's ignorance.
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    Default Re: Has anyone had Paxum just suddenly close your account?

    So Jacey was awesome enough to email me a GFY post detailing the exact problem...with the person even receiving the same email as me. I think it may be a US thing as that was the common denominator there as well. I don't want to shoot off any flares here before hearing from Ruth, but if you have an option other than Paxum you may want to send your money there for now so you don't have the same exasperating experience as me.


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    Default Re: Has anyone had Paxum just suddenly close your account?

    Quote Originally Posted by BlondebombGA View Post
    So Jacey was awesome enough to email me a GFY post detailing the exact problem...with the person even receiving the same email as me. I think it may be a US thing as that was the common denominator there as well. I don't want to shoot off any flares here before hearing from Ruth, but if you have an option other than Paxum you may want to send your money there for now so you don't have the same exasperating experience as me.
    Are you in the US? Ruth is on another board and recently said that new accounts for the US are suspended. This is what she said exactly

    At the moment new account creation is temporarily suspended for US clients. We are reviewing some new regulations based on FATCA and OECD, and while that is being reviewed we cannot verify new accounts for US clients.
    We apologize for the inconvenience.
    Please note, this does not affect any already verified US account-holders. Their accounts are working normally, this only affects unverified US account-holders
    .

    It's possible that because you account was dormant for so long that you are now considered a new account. Also there's been some talk about their services here in the main Paxum thread in Industry Insight https://www.stripperweb.com/forum/sh...A-Thread/page4

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    Veteran Member BlondebombGA's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    That's what I'm hoping Ruth can verify for me.


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    Veteran Member BlondebombGA's Avatar
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    Default Re: Has anyone had Paxum just suddenly close your account?

    So Ruth answered, (after I sent a second email letting her know I had made my situation public here), and I still have no new info for you. My account was dormant for awhile so maybe that had something to do with it. Regardless, that does not make me a NEW client and this was handled poorly. She let me know that she would look into getting my account reopened. That is all that she said. I decided that I would just deal with it and signed up for FirstChoicePay instead and sent her this email.

    Hi again Ruth. Please refrain from any further action on my part. I have signed up with FirstChoicePay.

    I understand this may be out of your hands as a new rule for US customers, but if you expect current Paxum clients to transfer over to Paxum Bank, you may want to treat them a bit more professionally. Why in the world would I now give my business to another company of yours after being shut out and ignored with zero explanation? This does not breed confidence. An honest explanation in the very beginning would have made this situation much less work for both of us.

    Sincerely, x xxxx


    Sorry I can't give you any more info ladies and hopefully this was just a one time thing.


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