Have you ever thought that someday in the future people will not bother stuffing heavy wallets into their pockets or purses, continuously running the risk of losing important personal identification and financial documents? That someday, there will be a more efficient, less risky way of handling your money? The truth is, these suppositions are not the stuff of science fiction anymore, nor any kind of distant dream; e-wallets, such as Paxum, are here, and they are changing the way that people handle money.
What is an E-Wallet?
E-wallets – sometimes called digital wallets, since they involve digital monetary transactions – do pretty much the same things as regular wallets. They store your money, hold your credit card information, keep a record of your shipping addresses, etc. And, unlike a regular wallet, they do not take up any space. Most are accessible wherever you have internet access (this can include the data service provided by your mobile phone provider).
Paxum is an increasingly popular e-wallet provider that hosts a variety of services to help you with your money. In order to accommodate its users, Paxum has a couple of different account types. They are the Paxum Personal Account and the Paxum Business Account.
The Paxum Personal Account is just what the name suggests – an account for regular individuals who want to be able to make safe money transactions online. It has a number of important features. Personal Account users are able to send money to everyone who has a Paxum account, receive payments straight to their e-wallet, load money into their account and withdraw their money in a couple of ways, including via check (which can take a couple of weeks) and with a direct wire transfer. There is even a Paxum Prepaid MasterCard, making it possible to spend Paxum dollars anywhere in the world that MasterCard is accepted. There are a few limitations to what you can do; for example, if you do not verify your account information, you are not allowed to keep more than $10,000 USD at a time. And, you canít withdraw more than that amount in a single day, either. Your MasterCard has its own set of rules, which include a daily withdrawal amount of $2,500.
The Paxum Business Account is tailored for doing business. It has several services which are aimed at helping businesses conduct their transactions. Granted, many of the services are the same as offered in the personal account – such as the ability to receive money, to load money, to send money and to withdraw money from the Paxum wallet into a regular bank account. However, a Business Account also grants users the ability to make mass payments all at once (important to any small or large business handling regular invoices), accept Paxum payments on the businessí website (crucial if you are selling things online and especially if you are hoping to boost sales through impulse buys) and maintain several accounts for your employees and co-workers. This account type has limits, as well, though they are more lax than with a personal account, in order to accommodate the increased flow of money that happens within a business. For example, the withdrawal amount allowed is a much larger $100,000 USD and there are no restrictions on the number of transactions which can happen in a single day (so your business will not be penalized for being extra prosperous). There are also no limits on the account balance, provided the business account is verified. The MasterCard option is also available with this account.
There are fees. This seems like an unfortunate thing (mostly because it would be nice to have these services for no price) but the money is how Paxum stays in business and stays reliable. Luckily, the fees are reasonable. The MasterCard, for example, costs a simple $44.95 a year, for both account types. Receiving the card is free, along with activation. There is a standard ATM fee if you want to withdraw money that way, $2.00 – though this is roughly the same fee that you will pay by taking your money out from any ATM machine not affiliated with your bank. Maintaining your general account costs nothing, though you may incur fees depending on how you want to load funds. For example, if you are a Personal Account holder and want to put money into your account via check, the fee is $5.00 USD. If you want to load the money through a direct wire transfer from your bank, you will pay $50.00. The fees are sometimes higher for Business Account holders (they would pay $25.00 and $50.00 for the aforementioned transactions, respectively).
Is Paxum Right for You?
You should try to determine if Paxum is right for you before signing up. There are a couple of things to think about. First, there is the matter of age. Only adults 18 years old and up are allowed to sign up for an account. Secondly, while Paxum allows people from all over the world to set up an account, those the company deems "risky" – such as people residing in countries with sanctions in place, like Cuba and Libya – will face additional limits that other users do not need to cope with. And, third, since Paxum transactions usually happen when both parties use the company as an intermediary, you should make sure that the people you are buying from or doing business with are familiar with Paxum and have accounts of their own.
The Paxum e-wallet is an easy way to guarantee that your money is safe as it travels all over the world. While it is not yet the most popular option available, it is growing, based off of positive reviews of current customers and the easy access to money through the Paxum MasterCard. Since maintaining an account is free, there is no harm in trying it, if you find yourself on the fence as to whether or not you want to use this program.