This year many of our projects have been the direct result of your feedback and requests. One request we get regularly is the addition of supported currencies. In October, we added the Argentina Peso (ARS), Brazilian Real (BRL), Indian Rupee (INR), Mexican Peso (MXN), and the South African Rand (ZAR) to our list of supported currencies.

In May we launched a new way for your customers to make purchases. Our PIN-Debit payment option is the first software-only service of its kind in the U.S. Through PaySecure’s encrypted software, your customers who prefer to use PIN debit, or have PIN-only debit cards can buy using their debit card and their 4-digit ID. This is just one more way we are making shopping online easier and more accessible to people all over the world.

These are in addition to our Beta API release (which should be released soon), improved navigation within our vendor area, and numerous fixes and modifications that have been a direct response to your feedback. We appreciate all the comments and feedback we receive. I want to thank all of you who have offered suggestions over the past few years – your needs and ideas are a large part of what informs our decisions.

Speaking of the Beta API, our API has been one of the biggest projects we have undertaken. Based on your requests and our beta-tester’s feedback, we have been developing and finalizing the API. Look for some good news in early 2010.

We are also continuing to make our vendor area as useful and easy to navigate as possible. We have more big plans, and some equally big announcements for next year. We will be focused on giving you easier access to more tools and more information, and more options for both you and your customers. I really wish I could be more specific, because I’m excited about every one of these projects…but I need to leave you with some surprises for the new year!

What a year 2009 has been and what a year 2010 will be!

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.

Related Articles:

• Payment Countries

CHF or Swiss Franks
EURO
MXM or Mexican Peso
NZD or New Zealand Dollar

When you are entering your bank information into the Banking Wizard, you will be required to enter your IRC (International Routing Code). This can sometimes be confusing due to different countries referring to it by different names. The following information will help you determine what your IRC is.

AUD: If you are in Australia and you would like to receive an FCEFT (AEFT) in AUD, you will use your BSB (Bank, State, Branch) number for the IRC. The BSB is a six-digit number consisting of a two-digit bank number, a one-digit state number, and a three-digit branch number.

You can find this number at the bottom of your checks, it is the second set of numbers. You should also contact the banking institution where the account is held to obtain this information.

CAD: If you are in Canada and you would like to receive an FCEFT (DEFT) in CAD, your IRC will consist of 9 numeric numbers and include the following. A four-digit institution number and a five-digit branch transit number.

When you go to enter this number into the Banking Wizard, you will notice that the leading zero is built in for you, so you will drop the first zero and only enter the last eight numbers.

Example: Enter 00410202 consisting of eight-digits instead of 000410202 that consist of nine-digits.

You can find this number at the bottom of your checks; it is the second and third set of numbers. You should also contact the banking institution where the account is held to obtain this information.

GBP: If you are in Great Britain and you would like to receive an FCEFT (BACS) in GBP, you will use your sort code or branch number that will consist of 6 numeric numbers. This will be the second group of numbers located on the bottom of your checks. You should also contact the banking instituting where the account is held to obtain this information.

(Please be advised that your IBAN number will not be required, only your account number)

CHF: If you are in Switzerland and you would like to receive an FCEFT in CHF,you will have to contact the financial institution where the account is held to obtain the IRC. The IRC is a five-digit numeric number commonly referred to as the SIC. number

(Please be advised that your IBAN number will not be required, only your account number)

MXM: If you are in Mexico and you would like to receive an FCEFT in MXM, you will not have an IRC and so you will leave the field for the IRC blank .

NZD: If you are in New Zealand and you would like to receive an FCEFT in NZD, you will use the bank/branch code or BSB number for the IRC. You will locate this number at the bottom of your checks. It will be the second set of numbers and will consist of a numeric six-digit number. You should also contact the banking institution where the account is held to obtain this information.

Euro: Since the Euro is used in a number of counties, different numbers will be used for the IRC.

(Please be advised that your IBAN number will not be required, only your account number)

The Netherlands: If you are in the Netherlands and you would like to receive an FCEFT in Euros, you will not have to enter an IRC number because the IRC is contained in the account number. You should contact the banking institution where the account is held to obtain this information.

Ireland: If you are in Ireland and you would like to receive a FCEFT in Euros, you will use the six-digit numeric sort code for the IRC number. You will have to contact the financial institution where the account is held to obtain this information.

Spain: If you are in Spain and you would like to receive an FCEFT in Euros, your IRC will consist of a nine-digit numeric number consisting of bank and branch codes. You will have to contact the financial institution where the account is held to obtain this information.

Austria: If you are in Austria and you would like to receive an FCEFT in Euros, your IRC will consist of a five-digit numeric number consisting of the bank and branch codes. To obtain your IRC, you will have to contact the financial institution where the account is held.

Belgium: If you are in Belgium and you would like to receive an FCEFT in Euros, you will leave the IRC field blank because the IRC is contained in the account number. To obtain your account number, you will have to contact the financial institution where the account is held.

France: If you are in France and you would like to receive an FCEFT in Euros, you will use your RIB number for your IRC. The RIB number is a ten-digit numeric number that consists of your bank and branch codes. Your RIB number is located at the bottom of your checks. It is the first two groups of numbers. You should also contact your banking institution to obtain this information.

Germany: If you are in Germany and you would like to receive an FCEFT in Euros, you will have to contact your banking institution to obtain your BLZ. The BLZ will be numeric and eight characters in length.

The new Payment methods are currently available to all vendors through the new Vendor Admin area. You will need to log into your account via the new vendor area here and Click the Account tab and then the Bank Account tab to access the account details and run the banking wizard.

Updated Feb. 20, 2008.
Updated Dec. 13, 2007.
Updated Nov. 15, 2007.
Originally posted Nov. 9, 2007.

Currencies that are supported:

• US Dollars
• Argentina Peso
• Australian Dollars
• Brazilian Real
• Canadian Dollars
• Danish Kroner
• Euro
• GBP-Sterlings
• Hong Kong Dollars
• Indian Rupee
• Israel Shekel
• Japanese Yen
• Lithuania Litas
• Malaysia Ringgit
• Mexican Peso
• New Zealand Dollars
• Norwegian Kroner
• Philippines Peso
• Romania Leu
• Russian Federation Ruble
• Singapore Dollar
• South African Rand
• Swedish Kroner
• Swiss Francs
• Turkish Lira
• United Arab Emirates Dirham

The reason we’ve wanted to offer multi-currency support (in addition to the requests from our users) is that the USD price or approximation listed is always subjected to additional conversion costs by the card issuing bank. This usually results in a higher-than-necessary charge to the customer on their bank statement.

This rate is also frozen so that if, for example, your customer requires a refund (full or partial), they are receiving the same conversion rate at that time as they did at the time of service.

Additionally, all currencies are automatically supported, but the customer experiences the conversion rate imposed by their card-issuing bank for the US Dollar sale where the currency is not supported by 2CO.

Not all payment methods are available to all currencies.  The customer will only be shown payment methods that are available for the currency that they have selected.