On January 12, 2018, Paxum is discontinuing support of U.S.-based personal accounts, and in this blogpost, we will review reasons for these changes, consequences and what Plugrush users can do about it.
On January 12, 2018, Paxum is discontinuing support of U.S.-based personal accounts, and in this blogpost, we will review reasons for these changes, consequences and what Plugrush users can do about it.
Background
For more than a year Paxum have been preparing to discontinue al personal U.S. Paxum accounts. We hope all PlugRush users, who are affected by these changes, have already heard about this and taken precautions. If for some reason this news is really fresh for you, please keep reading.
Chris Youngs, of Paxum.com, posted the following clarification: “We started closing US personal account holders almost a year ago. We have not accepted new US accounts at that time as well. Again, a keyword is US personal account holders. US business accounts are fine. If you had a US personal account with us, you are welcome to set up a business account. As for your funds. If you have less than $2500 in your wallet, we will transfer the funds to your Paxum card. Your Paxum card will stay active until your card expires. We are not closing that. If you do not have a card or more than $2500, we will send the funds to your bank account.”
The reason for this change is simple. Personal U.S.-based accounts represented a small percentage of Paxum’s business and revenue. At the same time, it was consuming a good share of company’s resources which would even grow in the future. That’s why the decision was made for about a year ago and today, January 12, 2018, it will finally happen. You can read more about the details of the upcoming changes in this post at YNOT.com
What Should PlugRush Users Do
If you are affected by these changes made by Paxum, you have now two options: either open a business account at Paxum.com, and continue enjoying low fees and lightning-fast payment processing, OR you can explore other payment options available at our platform. Other alternatives include Wire Transfers, Credit Card, Paypal and FirstChoice Pay.
You can set up payment methods at your account by signing in here, proceed to Payment Options setup area and click “Add Account” button for the payment method you would like to activate for your Plugrush account. Follow the instructions and you will be all set in no time.
Remember, that if you have any questions, you can always ask us at the Support Center and we will be happy to assist you with any questions you have.
Yours truly, PlugRush Team
