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McSpike · 09-15-2016, 01:30 AM

It's been fine up to a few months ago. Wire withdrawal requests were completed in a timely manner and the money came as expected.

But then it started. Each time it takes up to 10 days for wire request to get completed. Then it takes up to 5 days for the funds to land in our account.

And here's the fun part. It costs $50 for an international transfer while money always lands in our account through a SEPA wire, through an EU bank. We reside in EU.

So that $50 that they take for the "international" wire (which is a rip-off by itself) actually costs them a fraction with a SEPA wire.

What I suspect is going on here is they wait for enough wire withdrawal requests to EU are submitted and then they send 1 cumulative wire to the EU bank and from there on redistribute the funds to our local accounts while they pay a fraction of the cost we paid for each wire.

I would understand, if wires came from backwoods Belize directly. Sure, fifty bucks to get the money out of that country with a boat or submarine... understandable. But when you get it from an account in a neighbor EU state and you pay premium for it AND it takes 15 days to land in the account...

Ruth, can you comment on this? Why it takes 10 days for the wires withdrawal requests to even get completed and why do we pay $50 for wires that come as SEPA and take 15 days in total? Last time I checked international wires (EU to BofA) took 3 days to complete and costed $25.

09-15-2016, 01:30 AM
McSpike Confirmed User Join Date: May 2001 Posts: 1,042	Paxum wire withdrawals take way too long It's been fine up to a few months ago. Wire withdrawal requests were completed in a timely manner and the money came as expected. But then it started. Each time it takes up to 10 days for wire request to get completed. Then it takes up to 5 days for the funds to land in our account. And here's the fun part. It costs $50 for an international transfer while money always lands in our account through a SEPA wire, through an EU bank. We reside in EU. So that $50 that they take for the "international" wire (which is a rip-off by itself) actually costs them a fraction with a SEPA wire. What I suspect is going on here is they wait for enough wire withdrawal requests to EU are submitted and then they send 1 cumulative wire to the EU bank and from there on redistribute the funds to our local accounts while they pay a fraction of the cost we paid for each wire. I would understand, if wires came from backwoods Belize directly. Sure, fifty bucks to get the money out of that country with a boat or submarine... understandable. But when you get it from an account in a neighbor EU state and you pay premium for it AND it takes 15 days to land in the account... Ruth, can you comment on this? Why it takes 10 days for the wires withdrawal requests to even get completed and why do we pay $50 for wires that come as SEPA and take 15 days in total? Last time I checked international wires (EU to BofA) took 3 days to complete and costed $25.