Paxum review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Paxum suits freelancers and small businesses who want a no monthly fee wallet with instant peer to peer payments. Costs stay low for sending between users, yet the exchange rate markup of 3.5% and local bank transfer fees add up for larger payouts.
Key facts
- Best for
- Freelancers and small businesses wanting fee free holding with instant payments to other Paxum users.
- Transfer fee
- USD 0.25 P2P to another Paxum user, USD 5.00 local bank transfer to own account, USD 25.00-50.00 wire to own account↗
- Exchange rate markup
- 3.5%↗
- Delivery time
- Instant for P2P, under 24 hours for local bank transfers, up to 3 business days for external Visa card↗
- Licence type
- Payment institution↗
- Payout methods
- Bank, Wallet, Card↗
- Currencies
- from 20↗
- Fee to send 1,000
- $0.25 to $50↗
- Legal entity
- Segregated Payments Ireland Limited↗
- Headquarters
- Ireland↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Official website
- paxum.com
Everyday accounts
- Monthly fee
- $0↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currency conversion fee
- 3.5%↗
- Local account details
- IBAN↗
- Free ATM withdrawals
- $0↗
- Audience
- Freelancers, Business
- Pricing model
- No monthly fee
Facts checked September 26, 2026, 5 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
- Elsewhere
- Trustpilot
Pros and cons
Pros
- No monthly fee on the personal account, at $0
- Peer to peer transfers between Paxum users cost $0.25 to $50
- Balances sit with an EU licensed payment institution, with EU DGS up to EUR 100,000
- Support covers email, chat and phone
Cons
- Exchange rate markup of 3.5% is high against a 2.75% site figure
- Local bank transfers to your own account cost a flat fee, with wires far higher on $0.25 to $50
- Currency conversion adds 3.5% on top of the markup, and only from 20 currencies are held
Who it suits
- Freelancers invoicing other Paxum users for instant settlement
- Small businesses paying staff and suppliers in the same currency
- Anyone who wants a multi currency wallet with a free ATM allowance of $0
Who should look elsewhere
- PayPal Colombia, if you want to send in more than from 20 currencies
- Skrill, if you pay a fee on every card top up instead of a flat local bank charge
- Paysera, if you want euro area transfers to other users without a per transfer charge
Safety of your money
Paxum runs through Segregated Payments Ireland Limited as a payment institution registered with the IE_CBI in Ireland, so it is supervised as a payments firm rather than a deposit taker. Balances held with the institution are covered by EU DGS up to EUR 100,000, which is the EU deposit guarantee arrangement rather than a banking guarantee. The Irish registration is listed under reference PSD_PI IE_CBI!C193896.
How Paxum compares
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Where Paxum is available
- Licence in Dominica
- Financial Service Unit (FSU), Dominica, checked September 26, 2026
- Licence in Ireland
- IE_CBI (PSD_PI IE_CBI!C193896), checked September 26, 2026, also valid in Austria, Belgium, Bulgaria, Cyprus, Czechia, Germany, Denmark, Estonia, Spain, Finland, Greece, Croatia, Hungary, Ireland, Italy, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia
Frequently asked questions
What does Paxum cost to hold and send money?+
There is no monthly charge on the personal account, at $0. Sending to another Paxum user costs a small flat fee, on $0.25 to $50. A local bank transfer to your own account costs more, and a wire to your own account costs the most, still within $0.25 to $50.
How much does Paxum add to the exchange rate?+
Paxum applies a markup of 3.5% on currency conversion, which sits above the 2.75% typical figure across the site. A separate conversion fee of 3.5% can also apply, so converting a large balance costs noticeably more than sending in the same currency.
Is my money protected and who regulates Paxum?+
Paxum operates as a payment institution through Segregated Payments Ireland Limited, supervised by the IE_CBI in Ireland. Funds held with the institution are covered by EU DGS up to EUR 100,000 under the EU deposit guarantee scheme. The Irish registration appears as PSD_PI IE_CBI!C193896 on the regulator register.
How fast can I get money out of Paxum?+
A transfer to another Paxum user is instant. Local bank transfers to your own account arrive within a day, while an external Visa card can take several business days. Withdrawals go to a bank, a wallet or a card, according to bank, wallet and card.
What local bank details does Paxum give me?+
Paxum provides an IBAN for local transfers, listed in iban. UK sort codes and US ACH details are not part of what it supplies, so a US payer would need another way to fund the account. A free ATM allowance of $0 applies where a card is used.
Can I hold more than one currency in Paxum?+
A single Paxum account can hold from 20 currencies, well above the 5 median across the site. Converting between them costs the conversion fee of 3.5% plus the 3.5% markup, so holding several and switching often is the expensive part.
Who does Paxum build its accounts for?+
Paxum designs its accounts around freelancer and business rather than everyday household banking. That suits someone billing clients and paying contractors from the same balance, and the account model is no monthly fee with no monthly charge. Support is available through email, chat and phone.
How do I contact Paxum if a payment goes wrong?+
Support runs through email, chat and phone, so a help centre, live chat, email and phone are all listed for contact. Instant peer to peer transfers settle immediately, which means a disputed payment to another user may need to be raised quickly through those channels.
Sources
- euclid.eba.europa.eu/register/downloads/PSDMD/20260926/do... checked September 26, 2026
Backs: Headquarters, Legal entity, Licence type, Licences, Deposit protection
“EntityCode=IE_CBI!C193896; EntityType=PSD_PI; ENT_NAM=Segregated Payments Ireland Limited”
- paxum.com checked September 26, 2026
Backs: Currencies
“Local bank transfers - Available in 50+ countries in over 20+ Currencies”
- paxum.com/contact-us checked September 26, 2026
Backs: Support channels
“Our phone lines are open 24/7 ... In-App Chat: Mon-Fri 24 Hours Sat-Sun 24 Hours ... E-mail”
- paxum.com/faq/account-types checked September 26, 2026
Backs: Audience
“Personal accounts are suggested for those typically receiving payments for services rendered such as freelancers, affiliates, online professionals, performers and other global digital industries....”
- paxum.com/faq/adding-withdrawing-funds checked September 26, 2026
Backs: Delivery time, Payout methods
“For a withdrawal to External Mastercard most users experience instant deposit or usually within a few hours ... Withdrawal to External Visa usually takes up to 3 business days”
- paxum.com/fees/personal checked September 26, 2026
Backs: Free ATM withdrawals, Currency conversion fee, Exchange rate markup, Local account details, Pricing model, Monthly fee, Transfer fee, Fee to send 1,000
“Paxum UnionPay Prepaid Card Fees - ATM FEE in Card Currency $2.00 + 1% (no free ATM withdrawals stated)”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Related by the facts
Paxum
Freelancers and small businesses wanting fee free holding with instant payments to other Paxum users.