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You want to stack that money? Stop paying stupid fees! (22)

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I'm sharing this because paypal fees are eating me alive. And I'm sure that I'm NOT ALONE. This is a tried and tested thing.

I use it to get paid from adult CPA networks, pay traffic sources like plugrush, popcash, and other private russian ones. Many direct buys go through paxum for adult, and well you can use their CC online offline anywhere. Learn more through my lenghty blog post here

Use Paxum and Save Your Money

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Thanks for the tip!

Currency conversion fee is another killer. At the moment I receive $ deposits on my € account and then have to make payments again in $ to the traffic sources.

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why not open a USD account?

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Yes its about time I get that sorted. The best option is probably to get a USD bankaccount + credit card with a local bank. The bankaccount can be used for receiving deposits and the credit card for making payments

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The day Amex Canada offer a USD CC that earns membership reward points I will literally cry with joy.

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Paxum is pretty cool, another way to use it besides saving on fees is to save on VAT - for European advertisers.

If the ad network is EU based they will charge you VAT if you're a physical EU person without a company in EU. Opening an EU company can be a drag with all the accounting and stuff and also if the ad network is not EU based you get no VAT benefits (you cant deduct VAT on income).

So the workaround is to open a non EU company - eg offshore like Delaware and a bank account. The cons of that is that the banks that you are able to get an account with charge a small fortune for wire transfers - from 50 -200-300 eur depending on ammount. Here paxum comes into play. Instead of paying X feeds for each wire to advertiser, you only pay it 1x .. to fund the paxum, then you can pay ad networks via paxum at 1 usd charge (irrespective of the ammount).

Reroute payment from sponsor to DW account also - here the benefit is no accouting hassle.

Then the only thing left to do is to transfer the actual profit to your personal or company account each month - its only 1 transaction. And pay taxes only on the actual profit.

Saves a shitload of accouting hassle + fees.

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Code for $45 credit for new Paxum accounts: 8V7Z MMEA BYGL 1AQI

First person to snag this gets the credit.

Got it as a network promotion but can't use it since I already have a Paxum account.

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I find Paxum quite antiquated to deal with. I think their interface definitely would benefit from an overhaul. When I first started using them I didn't even feel like the site was trustworthy. It's very... 80s looking.

That said - if it works it works but I don't think it's as effective solution as choosing the right banking partner for your requirements.

Wire loads cost $50 a time on top of your own bank fees. That's quite expensive and would require a pretty hefty chunk of coin to make it worthwhile.

I tend to just do regular bank wires. I pay my fees (about $15). The traffic source pays theirs. That seems fair to me. I expect the same from networks otherwise I tend to not work with them.

Kind of understand what you're saying here with regard to VAT but surely this is purely down to your place of incorporation rather than using Paxum?

If you're EU-incorporated you pay VAT (but can be zero-rated if you register for VAT).

If you're incorporated outside the EU you don't pay VAT.

How you send the money is irrelevant.

It's also worth mentioning that Paxum (or Paypal or any similar E-Wallet) should be treated like a bank account for accounting purposes if you're sending money there regularly. Otherwise I wouldn't fancy your chances in a tax audit if you're in a jurisdiction that requires detailed record keeping.

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Thanks Attila. Registered with Paxum.

I currently pay hundreds (possibly more) per month to a few ad networks that only accept Paypal, and deduct the fees from the payment. The alternative would be to pay via wire, but at $60 per wire (international) the fees add up quickly.

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I agree more ad networks have to accept paxum!

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Doesn't Paxum charge to deposit $ from CC?

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Paxum hasn't approve my account until today (since 6 months ago), despite the fact that I've sent them countless times of my documents to prove that I'm legit person. Speechless...

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Email: ruth@paxum.com ~ Skype: PaxumRuth
Probably the fastest way to get it fixed or create a post on gfy.com

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Sorry, but what's the catch? I have a decent amount of experience in both the banking and payments sectors. It is simply not possible to profitability process a transfer of funds (regardless of amount) for a flat fee of $0.25.

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approvals process is a pain but definitely worth it. cheapest way to load up is by bank wire which is like a 45$ flat fee. Says it takes up to a week to process but usually really quick within 24hrs every time for me. Way easier than sending out wires to all these sketch looking adult advertising companies in cyprus/panama/Czech republic ect. that takes days to process when doing direct buys, you can just have a centralized account at paxum to send all wires to and go form there.

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Ill ask because i dont know and post what they say...

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Any of you guys try loading funds via ACH? Looks like it's only $5. Just curious if there are any security issues with this (vs. wire).

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Its virtual funds.. Cost of transferring from account A to account B is actually 0 since its just change of virtual currency. When party A loads up the funds he is hit with a load funds charge, when party B withdraws funds to his wire account or via the card he is charged a withdrawal fee. These fees are not 0, they are in normal range. But they occur at the entry and exit to the system. They dont occur via X transfers within the system.

The benefit comes in this situation:

From perspective of ad buyer. You fund your account with 10k, you pay 1x 50$ fee, you pay 10x advertisers, each transfer costs 1$. You save 9x50 - 10 = 440$.

From perspective of ad network. You get money from 10 advertisers - total ammount 50k. You pay money to 100 publishers - total ammount 20k. Your fees are (only for the publishers, the advertiser pays his 1$) - 100x1 = 100$. If you paid via wire to all 100, it would be 100x50 = 5k. You save 4900.

Its same system as paypal, payooner, but the fees are different.

Its not a solution to all payment problems. It still smart to fund your primary accounts via wire direct especially if we are talking about big ammounts. But for the multitude of other accounts, where you only need 4-5 digits in account its a perfect solution. Not to mention that its instant , like paypal... ; and doesnt take days like wire.

ACH is supposed to solve the SWIFT (standard wire) issues such as high fees, long turnaround times. But as far as I know its available only for US-US transfers ?

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If your are interesting in getting a Paxum card for free, http://www.crakrevenue.com/ is offering it for all affiliate until the end of the month.
I plan to get one with them.

More infos here : http://static.crakrevenue.com/mailin...axumCard_1.jpg

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I am sure you mean well, but I don't think you really understand how the global banking and payment system works.

The global banking/payments system is not based on physical cash. When you deposit a cheque or your employer pays your salary into your account, an errand boy doesn't suddenly appear out of thin air to stack a pile of $20 bills and put them in a bank's vault and then later hand it off to another errand boy to count those bills from the bank's vault and then move it to your safe deposit box.

The majority of ALL transfers in the global banking system are "virtual" as you call it, in the sense that they are accounting entries where no physical exchange of cash actually takes place. And no, the cost of processing these "virtual" transactions is not zero.

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OK let me put it this way.

If you are a bank, and you transfer money from account of client1 to client2 in your own bank, what is the cost of that? What do you think its the actual cost of such a transfer? 1$, 0,1$, 0,01$ ? You get charged 1-2$ for it.. normally, at least I do. But the actual cost of such a transfer is very very low. I think in the range of 0,0X$ when everythign is included (amortisation of equipment, software development, security etc. .etc).

Your financial situation as a bank didn't change, you didn't incur any fees from other parties. All that was done was a change occured withing your system, and 2 clients now have a different ammout in their accounts.

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They make a lot of money on their loading and withdrawal fees from what I can see.

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