Paxum Fees, Country Coverage and Account Rules

What it costs

A person-to-person transfer inside Paxum costs $0.25 on a Personal account and $1.00 on a Business account, charged to both the sender and the receiver. Move the money out to your own bank and the price jumps: $50.00 for a USD wire, $5.00 if it goes by local transfer instead. Those numbers come from two Fee Information Documents that Paxum reissued on 25 August 2026, which are the freshest official figures the company publishes.

Opening an account is free. Keeping it is free too, on one condition: the fee documents list account maintenance as FREE if the account was used at least once in the previous six months, and $5.00 per month if it wasn't.

Three charges land on both account types. Closing an account can cost up to $50.00. A dormancy charge kicks in after 180 days, but only when the balance is positive - at $0.00 there's no fee. And a EUR IBAN for incoming wires and SEPA is free.

One thing to settle before the tables. Accounts on the Paxum site belong to Paxum Bank Limited, registered at Centre Cross Lane, Roseau, in the Commonwealth of Dominica. This is not an EU or UK e-money firm. There is no deposit-insurance statement anywhere on the official pages - no FSCS, no FDIC, nothing equivalent.

Personal account, 25 August 2026 schedule

Personal incoming wires are accepted in EUR only. That's a real constraint if your payer only sends dollars by SWIFT.

Business account

Cards

The current fee schedule covers one card brand: UnionPay.

Default card currency is USD.

Where the money can reach

Paxum says local bank transfers work in 50+ countries and 20+ currencies, and that wires via SWIFT reach over 200 currencies with 95% coverage of the correspondent banking network. Local transfers can land in as little as fifteen minutes, but only when the receiving account is denominated in the local currency. Wire deposits are credited in three to five business days. Payouts to an external Mastercard are described as instant to a few hours; Visa can take up to three business days.

Paxum's receive-payments page names six incoming currencies, USD, EUR, GBP, AUD, CAD and RON, while calling that set "more than 6".

Business accounts can push Mass Payouts by uploading a CSV or XML file, or through Paxum's API. Personal accounts can't do this, and they're capped at five P2P transfers per day - a count limit, not an amount limit. Receiving is unlimited on both types. Only a Business account can request permission to receive third-party payments, which matters more than it sounds: Paxum's own FAQ describes Business accounts as being for corporations issuing mass payouts to employees, affiliates, freelancers and global workers "as well as those receiving payments for products or services."

You get one verified Personal account per person. Business accounts are unlimited with documentation. And after verification, the account type can't be changed, so pick before you file the paperwork. Verification itself is documented in full. It needs proof of identity plus a separate proof of address issued within the last three months. Business accounts add incorporation documents, a shareholder list and ID for anyone holding 10% or more. You can open an account here.

Who can't open one

Per Paxum's Terms and Conditions - last updated 1 March 2023, so read these exclusions as three and a half years old rather than freshly confirmed - natural persons who are citizens or residents of the United States of America are prohibited from holding an account. Business accounts registered in Seychelles are refused. Dominica citizens and residents are excluded by the terms of the licence itself.

The terms also list 41 prohibited jurisdictions, among them Afghanistan, Bangladesh, Cambodia, Cuba, Ghana, Iran, Iraq, Liberia, Libya, Madagascar, Myanmar, North Korea, Rwanda, Somalia, Sudan, Suriname, Syria, Venezuela, Yemen, Zimbabwe, plus the contested territories the terms name one by one, including Crimea, Donetsk, Luhansk, Kherson, Abkhazia, South Ossetia, Transdniestria, the Gaza Strip and the West Bank.

Prohibited activities include gambling and gaming of any kind, lotteries without a licence, prescription drugs, weapons, cash advances, counterfeit goods, pyramid schemes and referral spam.

The site has one addressing quirk worth knowing. The bare apex domain, without the www prefix, returns HTTP 451, the status code for content unavailable for legal reasons. Link the www address, not the apex.

The entity and the licence

Paxum's licences page says the company operates under the Offshore Banking Act No. 8 of 1996 of Dominica, supervised by what it calls the "Financial Service Unit". The regulator's own site spells it Financial Services Unit, plural. Small thing, but it tells you nobody proofreads that page.

That licence status rests on Paxum's assertion. The FSU's register of financial entities is a search form with no query-string or API access, so an individual entry for Paxum Bank Limited can't be pulled up and linked. Treat the licence as stated but not independently verified here.

The brand moved entities at some point. A Fee Information Document from the old Paxum Inc., dated 31 October 2018, is still hosted on the same site. Widely repeated details - a 2007 founding, a Montreal head office, named executives, a licence number - appear on no official Paxum page. The about-us page is an empty shell. Don't trust those details until someone shows you where they're published.

Where the site contradicts itself

The card annual fee. The UnionPay FAQ says a $44.95 annual fee is charged on activation. The 25 August 2026 fee document lists activation at $0.00 and annual maintenance at $0.00, with the cost sitting in the $10.00 issue fee and $3.75 monthly charge instead. The dated document is newer. The FAQ hasn't caught up.

The monthly fee. The signup FAQ promises "no registration fees and no monthly maintenance fees." The fee documents list the $5.00 inactivity charge described above. Both statements are live on the site right now.

Add a third loose end: the Mastercard. Paxum Bank's group page still advertises "Issue your own branded MasterCard to your clients," and a Mastercard prepaid FAQ is still up saying the card is available in certain regions only. The August 2026 fee schedules contain no Mastercard prepaid line items at all. Sending funds to an external Mastercard is still a listed service, so the two things are separate.

What isn't published

Paxum publishes no minimum deposit or withdrawal amount on any official page. The figure is absent, not affirmatively disclaimed - and the difference matters, because clause 11.12 of the terms says Paxum Bank may set transaction limits on value, turnover, type or number "without prior notice to Client." So don't read the silence as a promise.

Also unpublished: any account-level FX markup percentage. Clause 12.4 says conversion happens at a rate Paxum determines, which may update daily. The only stated FX markup is the 3.5% on card transactions. Paxum can change the tariff with one month's notice.