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Cosmopayment, Paxum etc - how do they work?

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Sashacurves

Cam Model
Nov 22, 2021
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United Kingdom
onlyfans.com
Twitter Username
@SashaCurves
MFC Username
Sasha_Curves
Streamate Username
SashaCurves
It's mad how little information both these companies seem to give about how their accounts and fees work.... I've started on Streammate and as a UK model, these types of services are my only payment option. I cannot for the life of me work out though what the cheapest option is and even roughly what % of my earnings to expect to lose in the process. (also, should I declare tax on the earnings before or after they go through this process to arrive in my bank? 🤔)

I don't need a physical card and don't want to go through the effort of paying for one and having it delivered - but is it a requirement? I don't need to be making ATM withdrawals or using the card for spending... unless this actually somehow works out cheaper than bank transferring?

I just want the money to go in from Streammate and then back out to my bank account - can anyone advise which one to choose and how much it costs for the whole process?
 
Thanks, out of interest, do you use PAXUM?

Based on $1000 earnings/month, PAXUM would charge $100 for the whole process whilst COSMO charge $8 + $3 + one-off $12.95 card fee... and if you earn more than $1000/month, the difference gets even bigger. What's the benefit of PAXUM over COSMO then?
 
Thanks, out of interest, do you use PAXUM?

Based on $1000 earnings/month, PAXUM would charge $100 for the whole process whilst COSMO charge $8 + $3 + one-off $12.95 card fee... and if you earn more than $1000/month, the difference gets even bigger. What's the benefit of PAXUM over COSMO then?
Yup I use Paxum.
I dont know how you calculated the $100 fee? I transfer to my debit card so I pay $5 + 2,95% which would be $34.5 for $1000. Yeah it's still a lot and tbh I'm not happy with how high the fees are but since Paxum doesn't let me transfer USD to my USD bank account but forces me to convert to my local currency (and gives me a bad conversion rate) I just do the debit card transfer.
Do you mind sharing some links about Cosmo? Maybe it's time I switched.
 
also, should I declare tax on the earnings before or after they go through this process to arrive in my bank?
You might already know this but I read somewhere on here that one can write off eWallet fees?
I don't need a physical card and don't want to go through the effort of paying for one and having it delivered - but is it a requirement?
I use Paxum and I don't have a physical paxum card. Dont know if its cheaper.
 
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There are Cosmo's fees:

I'm so confused, but I think I just did my maths ridiculously wrong haha. I was thinking it's 0.05 x $1000 but it's actually (0.05/100) x $1000, for the "Incoming Wire (SWIFT)" (which would be the money going from Streammate>PAXUM). But it says on their fees minimum of $25 anyway.

And then you also have to pay "Outgoing Wire (OTHER Currency)" (which would be money going from COSMO>your local currency bank account). And for the £ it seems like exactly the same, 0.05% or $25.

How come yours is $5 + 2.95%? That makes a lot more sense than what I've just (probably wrongly again lol) calculated. Because by my calculations you'd get charged the same amount whether you're moving $1000 or $50,000??😅 Have I just used the wrong fee categories from their fees list?

Either way though I can't believe it's so high, even 2.95% is a lot, considering sites like MFC just charge you a fixed $15, and also don't take 65% of your earnings in the first place...

Yup I use Paxum.
I dont know how you calculated the $100 fee? I transfer to my debit card so I pay $5 + 2,95% which would be $34.5 for $1000. Yeah it's still a lot and tbh I'm not happy with how high the fees are but since Paxum doesn't let me transfer USD to my USD bank account but forces me to convert to my local currency (and gives me a bad conversion rate) I just do the debit card transfer.
Do you mind sharing some links about Cosmo? Maybe it's time I switched.
 
The money going from SM to Paxum would probably be through p2p, so $0.25. At least that's how CB does it.

I also think you should be able to do a EFT or ACH transfer which is significantly cheaper.
 
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So i just had a look at Cosmo and am I understanding it correctly that the physical Cosmo card is necessary?
 
So i just had a look at Cosmo and am I understanding it correctly that the physical Cosmo card is necessary?
Well it seems like it, but they've let me open an account so far without ordering one, so I'm not sure if that's only if you want to use it like a normal credit/debit card and buy things with it
 
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So i just had a look at Cosmo and am I understanding it correctly that the physical Cosmo card is necessary?
Hey thought I'd just update you on this cos I just did my first transaction through Cosmo. You don't need to buy the card, you can do it all online and through the app. And the fees seem cheaper than what you were describing for Paxum.

So I had $2310 sent from my cam site and after transferring through Cosmo, I'll be receiving £1645. They basically just give you a terrible exchange rate (£0.71=$1 instead of £0.73 which is what the real rate is atm) but fees are totally minimal so it works out pretty fair really! If you put $2310 into google it comes out as £1686 so I've only lost $41 in the process!

So I definitely recommend using them instead I guess :)
 
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