Mt.Gox: Paxum (CAD) Deposits And Withdrawals Now Available

[MtGox_Adam]

We are pleased to announce to our Canadian customers that both withdrawals and deposits are now possible through Paxum, a Canada based E-wallet and currency exchange company. Paxum is a fast, safe and reliable currency conversion service, and we hope to fully integrate their services into the Mt.Gox trading package. Paxum offers the following advantages over alternative transfer methods:

All transfers are handled automatically and should finalize within 1 hour, making trading with Paxum a Dwolla-like experience.
Paxum also offers the ability to withdraw money and make purchases both online and offline with a prepaid MasterCard® card, offering nearly instantaneous access to funds generated through Mt.Gox.
Fees relating to Paxum transfers are significantly lower than wire transfer methods.
While US Dollars are the standard currency in use by Paxum, various other currencies are available including Canadian Dollars, Euros, and more.
Further information about Paxum and the services it offers can be found at https://www.paxum.com/payment/index.php?view=views/index.xsl

Deposits to Paxum may be made by selecting "Withdraw Funds" within the Mt.Gox interface, and choosing "US Dollars to Paxum".
Withdrawals from Paxum may be made by selecting "Add Funds" within the Mt.Gox interface, and choosing "Paxum."

Happy Trading,

The Mt.Gox Team

via: https://support.mtgox.com/entries/20317173-paxum-deposits-and-withdrawals-now-available

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[koin]

All transfers are handled automatically and should finalize within 1 hour, making trading with Paxum a Dwolla-like experience.

except for the fees:
 dwolla: 0.25% per trx, no charge to add from or withdraw to your bank via ach
 paxum: $5 for ach transactions, $45 / year fixed fee.

but for e.u. and canadians who don't already have a dwolla, or those trading larger amounts paxum will be quite useful.

[CubedRoot]

Not to mention you have to hand over your identity to Paxum when you sign up!!!!
For those that dont know, or have never signed up for Paxum, they make you do 2 ridiculous things in order to "prove" your identity and address:
1. To prove your identity, you have to send them a scanned copy of you passport, drivers license or some other form of government ID.
2. To prove your address, they make you send a scanned copy of a utility bill.

I dont know about anyone else, but for me to use them to fund a Bitcoin exchange, that is just going over the line when it comes to anonimity.

Please, exchanges, can we NOT use Paxum as a funding source?

[error]

I have no problem with exchanges using Paxum, but I have absolutely no intention of doing so myself.

[CubedRoot]

If you use Tradehill, that may be our only option in the future it appears.  They said in their blog replies that they are unsure as to how long they will continue to use dwolla for withdrawals.  You cant use dwolla for deposits now.

[Kermee]

1. To prove your identity, you have to send them a scanned copy of you passport, drivers license or some other form of government ID.
2. To prove your address, they make you send a scanned copy of a utility bill.

This is what got Dwolla in trouble in the first place...

Blame people who commit fraud for this type of vetting that's needed to prevent it.

Cheers,
Kermee