Overview

• PAXUM BANK LIMITED is an international bank based in Dominica, member of PAXUM GROUP, offering financial solutions for individuals and companies.PAXUM BANK is licensed and authorized by the The Financial Service Unit (FSU) of Dominica since 2016.Paxum Bank offers traditional banking services to individuals and companies worldwide. Due to the flexibility and ease of online and mobile banking with Paxum Bank clients are able to access digital platform from anywhere in the world without a hassle.

  Bank is working in compliance with internationally accepted best practices in global banking.

Services Offered

• Account Types: Personal and Business Accounts
• Currencies Supported: USD, EUR, GBP, and others
• Banking Services:
  • Current Accounts with no monthly maintenance fees
  • Savings Accounts with competitive interest rates
  • Free USD ACH and EUR IBAN Accounts
  • Online and Mobile Banking with 24/7 access
  • Debit Cards
  • Merchant Services with credit card processing
  • Mass Payout Solutions for businesses
  • Loan Services including overdrafts, project financing, and commercial property loans
  • Payroll Solutions tailored for e-commerce businesses
  • Prepaid Card Issuing for clients
  • Credit Card Processing for high-risk merchants
  • Compliance with international AML and sanctions regulations
  • No local taxes or exchange restrictions on accounts
  • Funds in foreign currencies are transferred freely without conversion to East Caribbean Dollar

Required Documentation for Bank Account Opening

For Corporate Accounts:

• Certified copies of corporate documents with apostille
• Certificate of Incorporation and Memorandum & Articles of Association
• Proof of Registered Address
• Identification of Beneficial Owners and Authorized Signatories
• Business License (if applicable)
• Due Diligence Checks on Directors and Principal Shareholders
• Company Business Plan or Forecast
• Bank Reference Letters for Shareholders and Directors
• Curriculum Vitae (CV) of Directors and Beneficiaries
• Detailed Description of Owned Assets and Income for Beneficiaries

For Personal Accounts:

• Valid Passport or Government-issued Photo ID
• Proof of Residential Address (e.g., utility bill, bank statement) dated within the last 90 days
• Bank Reference Letter
• Professional Reference Letter
• Curriculum Vitae (CV)
• Source of Funds and Wealth Documentation
• Screening against international sanctions lists

Account Opening Summary