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Author Topic: MtGox now accepting Paxum  (Read 3721 times)
jostmey
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July 29, 2011, 05:02:01 PM
 #1

Looks like MtGox now accepts Paxum also:

  https://support.mtgox.com/home

Dwolla was a single point of failure. Now, there are other options.

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RuthBPaxum
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July 29, 2011, 05:14:00 PM
 #2

Looks like MtGox now accepts Paxum also:

  https://support.mtgox.com/home

Dwolla was a single point of failure. Now, there are other options.

If anyone has any questions about Paxum, we're here to help. Smiley

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July 29, 2011, 05:25:14 PM
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I have a question:  I heard it takes up to 7 business days for a deposit to clear paxum and then get into mtgox/tradehill.  Why so long?  Dwolla is only 3 business days. (even that is too long if you ask me, considering they already verified my bank account my making deposits to it)

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July 29, 2011, 05:29:53 PM
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I have a question:  I heard it takes up to 7 business days for a deposit to clear paxum and then get into mtgox/tradehill.  Why so long?  Dwolla is only 3 business days. (even that is too long if you ask me, considering they already verified my bank account my making deposits to it)
Dwolla used a different bank than we do. our bank is based out of Belize and generally offshore wire transfers take around 3-5 business days.
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July 29, 2011, 05:32:45 PM
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I have a question:  I heard it takes up to 7 business days for a deposit to clear paxum and then get into mtgox/tradehill.  Why so long?  Dwolla is only 3 business days. (even that is too long if you ask me, considering they already verified my bank account my making deposits to it)

We offer the following options for deposit:

Wire - takes 3-5 business days
Check - instant upon receipt via the postal service
EFT (ACH) (US Only) - 5-7 business days
P2P transfer (from another Paxum client) - instant

We will be adding more funding/withdrawal options soon, and we are currently working with our provider to decrease the time on our EFT loads.

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nafai
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July 29, 2011, 05:45:57 PM
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Check - instant upon receipt via the postal service

So I could get my money deposited and available for use within approx 24 hours if I sent you a personal check using Next Day mail (fedex for example)?

You don't wait for the check to clear?

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indio007
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July 29, 2011, 05:51:28 PM
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What bank are paper checks drawn on?
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July 29, 2011, 05:56:56 PM
 #8

I have a question:  I heard it takes up to 7 business days for a deposit to clear paxum and then get into mtgox/tradehill.  Why so long?  Dwolla is only 3 business days. (even that is too long if you ask me, considering they already verified my bank account my making deposits to it)

We offer the following options for deposit:

Wire - takes 3-5 business days
Check - instant upon receipt via the postal service
EFT (ACH) (US Only) - 5-7 business days
P2P transfer (from another Paxum client) - instant

We will be adding more funding/withdrawal options soon, and we are currently working with our provider to decrease the time on our EFT loads.

What about going the opposite direction?  What if I sold BTC and then withdrew the funds from MtGox->Paxum->Checking.  How long would that take?

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July 29, 2011, 05:57:28 PM
 #9

We will be adding more funding/withdrawal options soon, and we are currently working with our provider to decrease the time on our EFT loads.
It's great how fast and active you guys (and gals) are with replying here.

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RuthBPaxum
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July 29, 2011, 06:19:56 PM
 #10

Quote
Check - instant upon receipt via the postal service

So I could get my money deposited and available for use within approx 24 hours if I sent you a personal check using Next Day mail (fedex for example)?

You don't wait for the check to clear?

We do not accept regular checks for deposit, but only certified checks, international money orders, cashiers checks, tellers checks.

What bank are paper checks drawn on?

I will find out for you Smiley

I have a question:  I heard it takes up to 7 business days for a deposit to clear paxum and then get into mtgox/tradehill.  Why so long?  Dwolla is only 3 business days. (even that is too long if you ask me, considering they already verified my bank account my making deposits to it)

We offer the following options for deposit:

Wire - takes 3-5 business days
Check - instant upon receipt via the postal service
EFT (ACH) (US Only) - 5-7 business days
P2P transfer (from another Paxum client) - instant

We will be adding more funding/withdrawal options soon, and we are currently working with our provider to decrease the time on our EFT loads.

What about going the opposite direction?  What if I sold BTC and then withdrew the funds from MtGox->Paxum->Checking.  How long would that take?

Same amount of time in the opposite direction.

For withdrawal we have the following options:

Wire - takes 3-5 business days
Check - takes as long as the postal service takes to deliver to your area
EFT (ACH) US Only - 5-7 business days
To an already existing credit card - 5-7 business days
To Paxum Mastercard - instant

We will be adding more funding/withdrawal options soon, and we are currently working with our provider to decrease the time on our EFT loads.
It's great how fast and active you guys (and gals) are with replying here.

We're here to help our clients. Thanks for your support! Smiley

Email me - ruth@paxum.com
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July 29, 2011, 06:22:16 PM
 #11

I have a question:  I heard it takes up to 7 business days for a deposit to clear paxum and then get into mtgox/tradehill.  Why so long?  Dwolla is only 3 business days. (even that is too long if you ask me, considering they already verified my bank account my making deposits to it)
Dwolla used a different bank than we do. our bank is based out of Belize and generally offshore wire transfers take around 3-5 business days.

Dwolla took 5 for me. I only did it once.

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July 29, 2011, 08:36:05 PM
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I just want to know about the paper check because I don't do traditional banking. i would have to go to a check casher. Optimally I would like to go to the bank it was drawn on for free.
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July 30, 2011, 05:20:36 AM
 #13

Ok tell me if I'm understanding this correctly. If I want to directly deposit to my Canadian bank account from Paxum it's going to cost me $50.00? Why?

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CurbsideProphet
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July 30, 2011, 06:07:04 AM
 #14

3 to 5 days for a WIRE?!?

Wow.  Bitcoin is definitely going to need better options to get off the ground. 

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July 30, 2011, 12:36:41 PM
 #15

3 to 5 days for a WIRE?!?

Wow.  Bitcoin is definitely going to need better options to get off the ground. 

You find this outrageous!? The average Joe (and Joette) works a forty week and then has to wait...wait for it...a week to get their first pay check. Here's the kicker: the day they're no longer employed by that employer, they have to wait another week to receive their last check.

An instant Bitcoin transaction would solve this disjustice (not a word--I looked it up). At the end of the day, an employee should be able to clock out and have his wages automatically directed to their Bitcoin wallet. That way they can go out and get drunk, then go home and watch a little porn and play some poker on the internet. The next day, they can go back to work (if they feel up to it) and do it all over again.

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CurbsideProphet
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July 30, 2011, 07:46:15 PM
 #16

3 to 5 days for a WIRE?!?

Wow.  Bitcoin is definitely going to need better options to get off the ground. 

You find this outrageous!? The average Joe (and Joette) works a forty week and then has to wait...wait for it...a week to get their first pay check. Here's the kicker: the day they're no longer employed by that employer, they have to wait another week to receive their last check.

An instant Bitcoin transaction would solve this disjustice (not a word--I looked it up). At the end of the day, an employee should be able to clock out and have his wages automatically directed to their Bitcoin wallet. That way they can go out and get drunk, then go home and watch a little porn and play some poker on the internet. The next day, they can go back to work (if they feel up to it) and do it all over again.

Bitcoin: With the Best Darn Forum on the Planet

What a ridiculous strawman.  Do you even understand the concept of a wire?  It's primary purpose (which you pay for I might add) is to send funds somewhere QUICKLY.  Three to five days for an ACH is acceptable.  For a wire it's just plain stupid.

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July 31, 2011, 03:24:38 AM
 #17

3 to 5 days for a WIRE?!?

Wow.  Bitcoin is definitely going to need better options to get off the ground. 

You find this outrageous!? The average Joe (and Joette) works a forty week and then has to wait...wait for it...a week to get their first pay check. Here's the kicker: the day they're no longer employed by that employer, they have to wait another week to receive their last check.

An instant Bitcoin transaction would solve this disjustice (not a word--I looked it up). At the end of the day, an employee should be able to clock out and have his wages automatically directed to their Bitcoin wallet. That way they can go out and get drunk, then go home and watch a little porn and play some poker on the internet. The next day, they can go back to work (if they feel up to it) and do it all over again.

Bitcoin: With the Best Darn Forum on the Planet

What a ridiculous strawman.  Do you even understand the concept of a wire?  It's primary purpose (which you pay for I might add) is to send funds somewhere QUICKLY.  Three to five days for an ACH is acceptable.  For a wire it's just plain stupid.

Where I come from, calling a person a strawman is exactly the same as calling them gay--totally unacceptable. The post you reference is obviously a failed attempt at humor. I come up with some crazy s**t somethings, like the first sentence of this post.

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July 31, 2011, 04:17:53 AM
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Where I come from, calling a person a strawman is exactly the same as calling them gay--totally unacceptable.

That's not what he meant.  He meant your argument was B.S. (and I agree with him):  http://en.wikipedia.org/wiki/Straw_man

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RuthBPaxum
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July 31, 2011, 04:56:27 AM
 #19

I just want to know about the paper check because I don't do traditional banking. i would have to go to a check casher. Optimally I would like to go to the bank it was drawn on for free.

Checks are issued by First Bank.

Ok tell me if I'm understanding this correctly. If I want to directly deposit to my Canadian bank account from Paxum it's going to cost me $50.00? Why?

We do not yet offer International EFT, so you would have to use our Wire option, which has a $50 USD transaction fee. International EFT is on our list of future implementations.

Of course, you could also use the Paxum Mastercard. You can request it without any funds in your account, and there is a $2 USD ATM withdrawal fee. All our fees are listed directly on our site under the header 'FEES'. Smiley

Email me - ruth@paxum.com
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July 31, 2011, 05:10:40 AM
 #20

Where I come from, calling a person a strawman is exactly the same as calling them gay--totally unacceptable.

That's not what he meant.  He meant your argument was B.S. (and I agree with him):  http://en.wikipedia.org/wiki/Straw_man

Once again, my post was not an argument. It was humor. Just like the Strawman/Gay post. Thank you kindly for calling my argument post B.S. (Brilliantly Superb).
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