This thread discusses recent experiences with Paxum's new fee structure following transactions to bank accounts, particularly in the context of transfers from Paxum to European bank accounts after Brexit. Members have observed varying charges on transactions, sparking a discussion on the possible causes and solutions, including alternative payment methods. Key points include:
- Increased fees for bank transfers from Paxum to EU bank accounts, with members reporting charges of 8 EUR and 22 EUR per transaction.
- Confusion and lack of clear communication from banks and Paxum regarding the source of these fees, with each party blaming the other.
- Discussion on Brexit's potential impact on these fees, considering transfers from the UK to EU as international transactions.
- Exploration of alternatives to Paxum, such as bitsafe and CosmoPayment, in light of the new fees.
- Speculation on the role of intermediary banks in the imposition of fees and the lack of prior warning from Paxum about these charges.
- Experiences with using TransferWise to potentially avoid high fees, with mixed results and changes in policy affecting its use.
- Members sharing strategies to minimize fees, such as converting currency within Paxum before transferring to bank accounts.
- Frustration over the lack of transparency and support from Paxum regarding fee structure and changes.
Overall, the thread serves as a platform for members to share their experiences, seek advice, and discuss alternatives to minimize transaction fees from Paxum to their bank accounts.