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Paxum SEPA card have been frozen

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E

eeprosoft

May 18, 2018
7
1
16
hello,

I received this email from paxum :

"
Dear ****** ******

Please be advised that the Paxum SEPA Mastercard backed by Wirecard Card Solutions Limited has been temporarily suspended, effective immediately. All existing Paxum SEPA card funds remain safe and secure, however, already loaded card funds cannot be accessed at this time. We sincerely apologize for the lack of notice.

"

anyone else having this kind of problems?
 
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Sadly bye bye to Paxum SEPA Mastercard :(
Dear,

Please be advised that the Paxum SEPA Mastercard backed by Wirecard Card Solutions Limited has been temporarily suspended, effective immediately. All existing Paxum SEPA card funds remain safe and secure, however, already loaded card funds cannot be accessed at this time. We sincerely apologize for the lack of notice.

Earlier today the Financial Conduct Authority (FCA) issued a declaration for the immediate suspension of Wirecard Card Solutions Limited regulated activity. Unfortunately, this means that the funds on your Paxum SEPA card have been frozen and are temporarily unavailable for you to access and withdraw. You can read more about this here - https://www.fca.org.uk/.../requirements-imposed-wirecard...

While Paxum has no way to release the already loaded card funds, we continue to offer alternative withdrawal methods to all clients for future funds/earnings. From WIRE withdrawal to External Card Withdrawal and ACH/EFT in some regions, there is a variety of options plus the Paxum Unionpay card remains available.

It is important to note that this action by the FCA only affects the Paxum SEPA Mastercard. The Paxum Unionpay card has a completely different card issuer and is fully available to use.

Here's a quick breakdown of some questions we anticipate you will be asking.

What caused this?
The Financial Conduct Authority (FCA) suspended operation of Wirecard Card Solutions; our card-issuing partner for the Paxum SEPA Mastercard.

Is Paxum in trouble?
No, Paxum has not done anything wrong and is only affected because Paxum SEPA Mastercards are provided and issued by Wirecard Card Solutions Limited. Paxums' business remains fully intact and completely operational.

Does this affect the Paxum Unionpay Card as well?
No, the Paxum Unionpay card is not affected by this situation, it remains fully operational and can be used as normal worldwide.

What does this mean for my money?
Any new funds sent to your Paxum account can be accessed through the various options described earlier in this email; Wire, External card withdrawal, EFT, Paxum Unionpay, etc. All funds already loaded to the Paxum SEPA Mastercard remain safe and secure, unfortunately they cannot be accessed at this time.

When will my money be released?
The FCA suspension occurred earlier today (Friday, June 26th 2020) and we have no further information at this time. You will eventually be able to access your Paxum SEPA Mastercard funds, but the FCA must first release the funds, which can take time.

As soon as we are informed of any further actions we will immediately update you.

Sincerely,

The Paxum Team.
 
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I had like 3$ left on the card, not a biggie. I only used the external card trasfer. 6$ +2.95% fee. Used a Revolut card and transfer was almost instant. Also have the Union pay card from them( ordered exactly in case something happens with sepa) but it requires 45$ to activate.
 
Sophiestique said:
I had like 3$ left on the card, not a biggie. I only used the external card trasfer. 6$ +2.95% fee. Used a Revolut card and transfer was almost instant. Also have the Union pay card from them( ordered exactly in case something happens with sepa) but it requires 45$ to activate.
Click to expand...

I will try the EFT Transfer to my local bank account i hope it will work fine.
 
Fuck my life i have 200$ left on this card and didnt order the union pay card bc of the corona virus the postal office is a trash and my Icard never arrived aswell.. so 😬😐😭😭😭😭😭😅😭😭
 
How long does it take for you all to recieve this new unionpay caed? 😞 its frustrating to always pay 45$ for a new card every few months ....😡
 
ViviDoll said:
How long does it take for you all to recieve this new unionpay caed? 😞 its frustrating to always pay 45$ for a new card every few months ....😡
Click to expand...
It took for me up to 2 months and was before coronavirus stuff started, card cam from Australia. And yeah now that wirecard stopped working, they should suspend fee for union pay.
 
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Sophiestique said:
It took for me up to 2 months and was before coronavirus stuff started, card cam from Australia. And yeah now that wirecard stopped working, they should suspend fee for union pay.
Click to expand...
Cool so I should wait 2 months for the new union pay card. 💕😭😂 what is the limit on that card?
 
Sophiestique said:
HOnestly, i have no clue, i havent activated it since i got it in february lol
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Just can’t believe this fuckery with these ewallet sites. I just cant believe why they just don’t let us live and give us a normal platform
With lower fees etc... 😞 i dont even want to work anymore bc of this.. it gives me anxiety.
 
From the FCA website:

„Are my funds protected by FSCS?“ – No. The Financial Services Compensation Scheme (FSCS) only applies to certain types of activity which does not include issuing electronic money or payment services.“
 
Sophiestique said:
Very true... in the end best is to just use local bank account and file for taxes.... that way you should have 0 issues
Click to expand...

Very true thats why sadly i did create at the beginning of the year a company just to be safe and pay taxes so now i can receive EFT to my bank account without to worry. The sad part is that i have to pay alot of taxes :D
 
Hi everyone! Good news from paxum. Just got this email
Paxum Prepaid Mastercard Balance Return​
Dear

As we're sure you already know, last Friday 26th June 2020 was the beginning of a confusing period when Wirecard Card Solutions Limited, the issuer of Paxum Branded Prepaid Mastercards, was forced to suspend operations by the Financial Conduct Authority (FCA).

As soon as we learned of the situation, we consulted with our lawyers to determine the best way to help affected clients like yourself get your funds back as quickly as possible. While we determined that our clients would eventually receive their funds back from Wirecard, we still cannot estimate whether that will take days, weeks, or even months from today. Therefore, our company has made the extraordinary decision to offer you, at our own expense, an immediate return of the available balance on your card back to your Paxum account – not later when Wirecard resolves its situation.

To initiate the process, please fill out the attached pdf document, scan it, and email it back to support@paxum.com. After we receive the signed pdf, you will see the funds back on your Paxum account, generally within 48 hours.

We continue to work hard to provide the best payment service possible to our many valued clients. We know you have options, and we sincerely appreciate that you choose to use Paxum for your payment needs. We look forward to continue serving your needs into the future.

Yours faithfully,
Paxum Team
The Paxum Team
 
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Anyways the UnionPay cards by paxum are useless? They don't even accept ir over here at ATMS or pay with it. so its weird....
 
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