2Checkout account holders have a wide variety of choices in how payments should be released. The payment types, fees and availability can often be confusing. If you are unsure of the payment options available to your country, please visit the payment country list. Release of payments also depends on the status of your 2Checkout account, which would have to be of a “Y” or “P” status to be eligible for the funds release. Below are the definitions, geographical availability and the associated fees for each payment type.
Definitions
- EFT — Electronic Funds Transfer is the quickest method of money transfer and they do not cost anything through 2Checkout. You are able to transfer very small amounts (minimum of $10 USD) from their 2Checkout account to their bank, hence enabling you to potentially be paid every week without the penalty of transfer fees. It is recommended by the banking systems that no more than $10,000 USD be transferred per payment for those who can receive EFTs, as they are rescindable.
- Payoneer — The 2Checkout.com-branded Re-Loadable MasterCard® (powered by Payoneer) is the solution for those who wish to be able to accept EFTs in countries that do not offer the EFT service. The opportunity to receive EFTs in a country that does not support them is accompanied by the inherent benefit of being able to receive payments from your 2Checkout account with only a $20 USD minimum payment and no 2Checkout transfer fees (although, Payoneer does charge nominal fees for transferring money to your card). Additionally, it is very handy for those who wish to have direct ATM access to the funds transferred from their 2Checkout account into the Payoneer card. You can signup for a Payoneer card by clicking on the Payoneer button on the Banking Details page in your 2Checkout account.
- Wire Transfer — Monetary wires are not as quick as EFTs, although they are typically suggested for payments greater than $10,000 USD. Wire transfers give you the assurance that your check-in-hand is as good as cash and no charge-backs can take place against that amount unlike EFTs, which are rescindable.
- Paper Check — Checks are manually printed from our 3rd-party processor and then mailed out to the address you specify within the Banking Wizard.
Payments within the United States
- EFT (ACH)
Transfer: 2-3 business days
Fee: NONE
Release Level: $10 - Payoneer
Transfer: 2-3 business days
Fee: Varies (no 2Checkout fee)
Release Level: $20 - Paper Check
Transfer: Standard First Class mail
Fee: $4 USD
Release Level: $100
Payments Outside the United States
- EFT (DEFT, AEFT, BACS, other) — Click here to learn about foreign ACH transactions.
Transfer: 2-3 business days
Fee: NONE
Release Level: $10 - Payoneer
Transfer: 2-3 business days
Fee: Varies (no 2Checkout fee)
Release Level: $20 - Wire Transfer (in local currency)
Transfer: 14-21 business days
Fee: $15 USD
Release Level: $300 - Wire Transfer (In USD to destination bank based in a supported foreign currency country)
Transfer: 14-21 business days
Fee: $20 USD
Release Level: $300 - Wire Transfer (In USD to destination bank based in an un-supported foreign currency country)
Transfer: 14-21 business days
Fee: $10 USD
Release Level: $300 - Paper Check
Transfer: Standard Air Mail
Fee: $4 USD
Release Level: $100
Supported Foreign Currencies — for ACH Transactions
- AUD – Australian Dollars
- CAD – Canadian Dollars
- EUR – Euros
- MXN – Mexican New Peso
- NZD – New Zealand Dollar
- CHF – Swiss Franc
- GBP – Great Britain Pound Sterling
Supported Foreign Currencies — for Wire Transfers
- AUD – Australian Dollars
- CAD – Canadian Dollars
- EUR – Euros
- GTQ – Guatemala Quetzal
- HKD – Hong Kong Dollars
- INR – Indian Rupee
- JPY – Japanese Yen
- MXN – Mexican New Peso
- NZD – New Zealand Dollar
- NOK – Norwegian Kroner
- ZAR – South African Rand
- SGD – Singapore Dollar
- SEK – Swedish Kroner
- CHF – Swiss Franc
- TRY – Turkish Lira
- GBP – Great Britain Pound Sterling
- CZK – Czech Republic Koruny
- DKK – Denmark Kroner
- HUF – Hungary Forint
- ILS – Israel New Shekel
- KWD – Kuwait Dinars
- PEN – Peruvian Nuevo Sol
- PHP – Philippine Pesos
- PLN – Poland Zlotych
- SAR – Saudi Arabia Riyals
- AED – United Arab Emirates Dirhams
To set your payment preferences, use the Banking Wizard within your 2Checkout account.
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