Accessing Funds Via Paxum In Afghanistan: Exploring The Options

Paxum is a payment service that allows users to send and receive payments. It is available in 50+ countries and supports over 20 currencies. However, it is unclear if Paxum is available in Afghanistan. On 2 November 2021, there was a ban on the use of foreign currency in Afghanistan, requiring all payments to be made in the local currency, the Afghani (AFN). Some international money transfer services continue to operate in Afghanistan, but payouts are made in local currency.

Paxum's services in Afghanistan

Paxum is a payment service provider that enables clients to send and receive money worldwide. It is available in 50+ countries and supports over 20+ currencies. Paxum offers personal and business accounts, with a range of features and benefits.

In Afghanistan, Paxum users can send and receive payments via P2P transfers from other Paxum clients. This method is promoted as the most popular, fastest, and cheapest way to get paid for work or services. Paxum also offers mass wire transfer solutions, allowing businesses to issue mass wires, fund external bank cards, or issue payroll cards to clients.

It is important to note that Afghanistan has restrictions on the use of foreign currency, requiring payments to be made in the local currency, the Afghani (AFN). There are frequent shortages of local currency, and credit cards are not widely accepted. Some ATMs and banks continue to function but with restrictions on cash withdrawals. Therefore, Paxum users in Afghanistan should be mindful of these factors when using the service for sending or receiving payments.

Overall, Paxum provides a convenient and flexible platform for individuals and businesses in Afghanistan to manage their finances, with the added benefit of a mobile app for easy access to their accounts.

Paxum's withdrawal methods in Afghanistan

Paxum offers several withdrawal methods in Afghanistan. However, it is important to note that there is a ban on the use of foreign currency in Afghanistan, and payouts will be made in the local currency, Afghani (AFN).

One of the most common ways to withdraw funds from your Paxum account is through wire transfers via the SWIFT network, which allows you to transfer funds to over 200 countries in more than 14 currencies. Local bank transfers are also available in over 50 countries, including Afghanistan, in local currencies. These transfers are usually cheaper than SWIFT transfers and can take less than 24 hours to be credited to the account.

If you have a bank card (MasterCard, Visa, or UnionPay) issued by your local bank, you can also withdraw funds directly to your card, typically receiving the funds in less than 24 hours.

The Paxum Prepaid Card (available in USD) is another popular withdrawal method. This card allows you to withdraw funds from ATMs worldwide, make online purchases, or shop at local stores.

Additionally, Paxum offers a No Fee Personal Current Account, which provides multiple benefits. With this account, you can use your funds for online shopping or to fund your free Paxum Bank Debit Card. The account is available in multiple currencies, ensuring it suits your daily account needs.

It is recommended to have multiple payout methods active at the same time for added convenience and flexibility.

Paxum's availability in Afghanistan

Paxum is a payment service that allows users to send and receive payments worldwide. It is available in over 50 countries and supports more than 20 currencies.

Sending Money to Afghanistan

Although Paxum does not explicitly mention Afghanistan as a supported country, its services can be used to send money to Afghanistan through various methods. Here are some options for sending money to Afghanistan:

• Online Money Transfer Providers: These providers, such as Western Union and WorldRemit, offer money transfer services to Afghanistan. They typically provide better exchange rates and lower fees compared to local banks. It is important to compare the fees and exchange rates offered by different providers to find the most cost-effective option.
• Credit or Debit Card: You can use your credit or debit card to send money to Afghanistan through various online platforms or money transfer services. However, using a credit card may incur additional fees, so using a debit card might be more cost-effective.
• Bank Account Transfers: If you have a bank account, you can transfer funds directly to a recipient's bank account in Afghanistan. This method usually takes longer, typically around 2-5 days, compared to instant cash transfers.
• Cash Transfer Providers: If neither you nor the recipient in Afghanistan has a bank account, you can use cash transfer providers. This allows you to pay with cash, and the recipient can collect the money as cash or a mobile phone reload.

Receiving Money in Afghanistan

When receiving money in Afghanistan, it is important to note that there are frequent shortages of local currency, and credit cards are not widely accepted. Here are some considerations:

• Local Currency: On 2 November 2021, the use of foreign currency in Afghanistan was banned. All payments must be settled in the local currency, the Afghan Afghani (AFN).
• Banks and ATMs: Some banks and ATMs in Afghanistan continue to function, but there are restrictions on cash withdrawal amounts. It is recommended to check with local branches for specific information. Some ATMs will accept foreign-issued bank cards.
• International Money Transfer Services: Certain international money transfer services, such as Western Union, continue to operate in Afghanistan. However, payouts will be made in local currency (Afghan Afghani) even if foreign exchange is requested.
• Bank Operating Hours: Banks in Afghanistan are typically closed on Fridays, and the operating hours on other days may be infrequent and lead to lengthy queues.

Paxum's fees in Afghanistan

Paxum is a global payment service for businesses and individuals, and it is available in 50+ countries. It provides payment services for businesses in higher-risk industries, such as adult work and affiliate marketing.

Paxum offers a No Fee Personal Current Account, which is available in multiple currencies. There is no monthly maintenance fee for this account, and it offers free USD ACH and EUR IBAN accounts. However, there is a $10,000 USD minimum deposit requirement.

For other personal accounts, there is a monthly maintenance fee. If the account is used at least once within six months, there is no fee. However, if the account is not used within six months, there is a $5.00 fee.

There are also fees for outgoing wires, with a 0.05% fee for outgoing wires in USD or EUR with a $50.00 minimum, and a fee for outgoing wires in other currencies. Additionally, there are fees for ATM withdrawals, POS transactions, and annual account maintenance.

While Paxum does not disclose specific fees for Afghanistan, it is likely that the same fee structure applies, with possible variations in specific amounts due to currency differences and other factors.

Paxum's safety in Afghanistan

Paxum is a payment service provider that enables clients to send and receive money worldwide. It is available in 50+ countries and supports over 20 currencies. Paxum offers personal and business accounts, with the former allowing users to receive deposits, pay bills, and obtain a debit card for easy access to their funds. The business account provides current accounts, savings accounts, merchant services, and financing options.

Furthermore, Afghanistan experiences frequent shortages of local currency, and credit cards are not widely accepted. While some ATMs and banks continue to operate, they impose restrictions on cash withdrawals, and queues can be lengthy due to infrequent opening hours. These factors could affect the ease of accessing funds through Paxum in Afghanistan.

To ensure the safety of their funds, individuals in Afghanistan should seek up-to-date information on Paxum's availability and compliance with local regulations. They should also consider alternative money transfer services that are known to operate in the country, such as Western Union and WorldRemit. These services may provide more reliable options for sending and receiving money in Afghanistan, especially if they comply with relevant laws and regulations in both the sending and receiving countries.

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