Quote:
Originally Posted by webgurl
I agree, these wires do take a very long time. I don't think this day and age electronic fund transfers (even international) should take more than 7 full business working days.
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Unless some backwoods US bank is used US to EU wires take 3 busines days.
Which is what materializes once the wire is "completed" by Paxum. It's this "completion" period (which I assume is Paxum's internal process that they use when fulfilling wire withdrawal requests) that takes way too long.
Compare that withdrawals to Payoneer's or Paypal's.
Also... all the payment providers use local EU banks to fulfill Paxum's orders so there is no way the wires should cost $50. $50 would be charged, if Chase Banks sent us a wire from offshore directly. If you send a wire US to EU $25 is standard. If a payment provider uses local accounts it means it sends cumulative payments or has a buffer in local banks, which should decrease the costs even further.
Then who takes the lion's share of that $50 per wire?