Paxum requires the taxpayer identification number (TIN)

[Crusoe]

Hello everyone! I've been using Paxum for about 4 months, receiving and withdrawing funds (to a crypto wallet). Recently, I encountered an issue. I noticed that Paxum now requires me to enter a taxpayer identification number (TIN), highlighted in red. I also have 22 days left to provide it. Has anyone encountered this issue, and how did you solve it?

1. I’m expecting funds to be deposited into my Paxum account soon. Will I be able to withdraw them without providing my TIN (since I’ve withdrawn before)?
2. What will happen if I don’t provide it at all? Will my account be blocked?

 

[KingMarti]

Hello everyone! I've been using Paxum for about 4 months, receiving and withdrawing funds (to a crypto wallet). Recently, I encountered an issue. I noticed that Paxum now requires me to enter a taxpayer identification number (TIN), highlighted in red. I also have 22 days left to provide it. Has anyone encountered this issue, and how did you solve it?

1. I’m expecting funds to be deposited into my Paxum account soon. Will I be able to withdraw them without providing my TIN (since I’ve withdrawn before)?
2. What will happen if I don’t provide it at all? Will my account be blocked?

if you dont provide a tax id number then you will no longer be able to withdrawal funds from paxum until it is provided.

 

[Crusoe]

if you dont provide a tax id number then you will no longer be able to withdrawal funds from paxum until it is provided.

Thank you very much. That makes sense.
What do you think — will I be unable to make transfers after the 22-day deadline, or is the restriction already in effect?
It’s just not entirely clear how this time limit works.

 

[KingMarti]

Thank you very much. That makes sense.
What do you think — will I be unable to make transfers after the 22-day deadline, or is the restriction already in effect?
It’s just not entirely clear how this time limit works.

Deposits will still work (probably) , but you will not be able to take anything out of paxum until you provide a tin once the deadline has passed.

 

[Crusoe]

Deposits will still work (probably) , but you will not be able to take anything out of paxum until you provide a tin once the deadline has passed.

Do you think Paxum reports data to the tax authorities upon request or automatically (when funds are received or transferred)? I'm not a citizen of the US or Canada.

 

[KingMarti]

Do you think Paxum reports data to the tax authorities upon request or automatically (when funds are received or transferred)? I'm not a citizen of the US or Canada.

If they ask for tax information I would assume that they are reporting income.

 

[BlackWizard]

This can be to CRS I think more than dac7. Paxum changed into bank with IBAN so they are in CRS too. But im not expert, just guessing. I heard that from 2026 also ewallets will be in CRS

 

[Crusoe]

Today I received the payment and successfully withdrew it via crypto. So yes, any possible restrictions will start after the deadline.

 

[Caf13]

hi everyone . Maybe someone knows if paxum will send info to other countires? support replies 50/50- to some people they reply that NO,, to others - yes, that they r par of CRS....
Anyone who lives in Europe - faced such before ? i mean that foreign banks report u . By the way - did revolut shared info last year? if no, so paxum will not do it too..

 

[BlackWizard]

hi everyone . Maybe someone knows if paxum will send info to other countires? support replies 50/50- to some people they reply that NO,, to others - yes, that they r par of CRS....
Anyone who lives in Europe - faced such before ? i mean that foreign banks report u . By the way - did revolut shared info last year? if no, so paxum will not do it too..

Paxum yes , to countries which are in CRS system. As long they became bank and they have IBAN - yes they report. Revolut too i think. From 2026 also evallets are planned to join CRS

 

[Caf13]

Paxum yes , to countries which are in CRS system. As long they became bank and they have IBAN - yes they report. Revolut too i think. From 2026 also evallets are planned to join CRS

thanks for reply ! i wonder why u mention IBAN... and if person got only $ account in paxum? and Why u r so sure? paxum already sent report last year? by he way. i didnt find any person who told hat his revolut account was reported...

 

[BlackWizard]

thanks for reply ! i wonder why u mention IBAN... and if person got only $ account in paxum? and Why u r so sure? paxum already sent report last year? by he way. i didnt find any person who told hat his revolut account was reported...

Crs is not dac7 , its from 2018 or something. You can not even know that Tax gov knows about it. I mentioned iban because crs for now affects banks, so must have IBAN and paxum became bank so they have IBAN. ewallets are not yet affected but will be soon. I dont use paxum anymore from 7 years so i dont know how they work now but im sure that all systems who has ibans are in crs. CRS is from 2018 or around that year and Paxum before was evallet, not long time ago they started having iban thats why they advertise that they will report

 

[BlackWizard]

Crs is not dac7 , its from 2018 or something. You can not even know that Tax gov knows about it. I mentioned iban because crs for now affects banks, so must have IBAN and paxum became bank so they have IBAN. ewallets are not yet affected but will be soon. I dont use paxum anymore from 7 years so i dont know how they work now but im sure that all systems who has ibans are in crs. CRS is from 2018 or around that year and Paxum before was evallet, not long time ago they started having iban thats why they advertise that they will report

About revolut, i think they not report but im not sure, but paxum for sure. Also ADvcash probably not report. I sugest you to read forums about CRS . Is many infos because CRS is already 7 years

 

[Caf13]

About revolut, i think they not report but im not sure, but paxum for sure. Also ADvcash probably not report. I sugest you to read forums about CRS . Is many infos because CRS is already 7 years

thank u ! u will be shocked but almost ZERO info about paxum + crs ......

 

[BlackWizard]

thank u ! u will be shocked but almost ZERO info about paxum + crs ......

Really? I typed now in google; paxum crs reporting and this is first result from AI:

Paxum, as a financial institution operating in multiple countries, is required to comply with the Common Reporting Standard (CRS) regulations. This means that Paxum collects and transfers information about its customers to tax authorities in their home countries.
How does Paxum comply with CRS?
Collection of information:
Paxum collects personal information about its customers, such as name, address, country of origin and transaction information, to be able to comply with CRS requirements.
Transfer of information:
After conducting a risk assessment and in accordance with regulations, Paxum transfers this information to the relevant tax authorities in the countries where its customers are tax residents.