As you may know, Congress passed anti-money laundering legislation, otherwise known as the Patriot Act, after the events of 9/11. The passage of the Patriot Act made it incumbent on 2Checkout to bolster our internal monitoring programs and implement Know Your Customer (KYC).

Know your customer (KYC) is the due diligence that 2Checkout must perform to identify our vendors and to ascertain relevant information pertinent to doing financial business with them.

What does this mean for you? When you open a 2Checkout account, we will ask you for information that will allow us to identify you. This may include but is not limited to: requests for copies of your driver’s license, passport, or other identifying documents. We may also ask for you to complete a ‘risk document; a form that allows us to gather additional information about you and your business.

If you have been asked to provide us with such documentation, you may send them to us either by attaching them in response to our email request, or you may fax them to our secure machine at 614-921-2451 Attention: Risk.

2Checkout’s privacy policy assures the security of your information.

Vendors that are located in Great Britain, Australia, and Canada are able to receive payment via Foreign Currency Electronic Funds Transfer (FCEFT) in their own currency. Vendors are now able to receive payment via FCEFT in the following currencies as well.

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.

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2Checkout.com has determined that there is a reasonable risk that a 2CO account may be used in an unauthorized manner. As a reseller, 2Checkout.com must diligently assure that all of our accounts are being used strictly in accordance with our Supplier Agreement and Operating Regulations only to sell actual products and services as permitted by our Prohibited Products list.

There is a reasonable risk that an account may be used to avoid Venezuelan currency restrictions or to convert Venezuelan Bolivars (VEB) into U.S. dollars.

This decision is made only with regard to our reasonable uncertainty to the use of the account, and is not an accusation of wrongdoing on the supplier’s part.

The following conditions will apply to Venezuelan suppliers:

• Orders must be marked shipped only when they are indeed shipped. Orders must have verifiable tracking numbers. We unfortunately cannot accept the sale if it is delivered via in-store pick up. Shipping information and tracking numbers must be provided for all orders in order for you to be paid for them. If an order is shipped without verifiable tracking numbers, we will have to refund the sale.
• Further documentation may be required by the fraud department prior to approving the sale. Once the Fraud Department has confirmed the sale with the card holder; the order can then be Passed and is ready to be shipped to the customer.
• Your account will go through a verifications process. Please see What is the Verifications Process? All orders must be voice verified received before the funds are released to you. It is important for customers to enter valid phone numbers to avoid any delays of the verifications process.
• Please be aware that any account that is found to be converting currency, or commiting other ToS violations in an attempt to circumvent our restrictions, will be assessed a fine equaling no less than 25% of it’s sales total. This penalty will be assessed at the time of account closure, prior to any funds releasing for completed transactions.

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We want to hear from you! Most articles on 2Checkout.com are open to your comments, questions and suggestions. Just click on the comments link at the bottom of the article you want to talk about. Continue reading…

For the 2CO Purchase Terms please see:
https://www2.2checkout.com/documentation/purchaseterms.html