- How do I open an account?
Opening an account is very easy. Just click here and fill out the application to instantly open an account.
- What is the minimum age?
To open an account you must be at least 18 years old.
- Why do you require my identity verification documents?
We are required to have to comply with AML (Anti Money Laundering) laws. This requires us to identify all clients. The account verification procedure is straight forward and is usually completed within 1 week.
You will not be allowed to send or receive funds before you verify your true identity.
- In what currencies can I open the account?
We offer Receiving and Prepayment Accounts for US clients in USD
- When do I have to pay my invoice to Paxum?
On the 5th and 20th of each calendar month Paxum will automatically generate an invoice for all payee invoices that have been factored and settled in the previous period.
Payment to Paxum is due within 5 business days of invoice generation.
You will receive an email notification when the invoice is generated, and an alert will be placed inside your account to indicate you have an Unpaid Invoice to Paxum.
Clients can arrange for Paxum to automatically collect payment for generated invoices directly from a specified USA Bank account.
Clients that elect to use the Collection Service will be notified upon invoice generation and payment. No further action will be necessary.
- How safe is it to use Paxum?
Your information is transmitted to our servers using a secure connection. All your personal data is encrypted and access is only available by relevant Paxum Inc. personnel. All your payment transactions must be digitally signed by a secure code which is sent to your phone number.