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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Suppliers can now be paid directly to a 2Checkout Payoneer MasterCard!

2Checkout.com is introducing a new way for our vendors all over the world to receive their weekly payment. As of July 11, 2007, you will be able to register for your own Payoneer MasterCard, and receive your 2Checkout payments directly on the card.

By choosing to be paid by the 2Checkout Payoneer MasterCard, you will reduce the time that it takes for your payment to be delivered while cutting the costs associated with other methods of payment.

Here are some benefits of choosing the Payoneer MasterCard option:

• Cards are shipped to virtually everywhere worldwide
• Cards can be used anywhere MasterCard is accepted – online and in stores
• Withdraw cash in local currency at ATMs around the world
• 2Checkout payments will be loaded directly onto the card
• Online access to view your account, payments, balance and transaction history
• If the card is lost or stolen, a new card with the remaining balance will be issued

Payoneer has stringent regulations for customer privacy and uses top of the line security technology. If you ever have any questions about your card, Payoneer offers customer support by phone, email and live chat.

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In order for 2Checkout to know how and where to issue payments, you will need to create a banking profile. To create a banking profile, you will need to log into your Vendor Administration area and go to the Account tab, then the Bank Account sub-tab. On the Banking Details page, you will see a Banking Wizard button on the right side. Click the Banking Wizard button to open the wizard and begin creating your profile. Within the Banking Wizard, you will specify what kind of transfer you wish to use (eg. ACH Deposit, Wire Transfer, Paper Check, etc.), where you would like to send your money earned from sales, what currency in which you would it to be sent, and the release level at which 2Checkout will disburse those earnings. Any questions regarding the exact information that should be entered into the Banking Wizard should be forwarded to your bank or financial institution so that you can be sure that your account receives the money safely and securely.

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 also able to receive payment via FCEFT in Swiss Francs, Euro, Mexican Peso and New Zealand Dollar. For more information FCEFT please see the information posted here.

2CO is happy to supply our contracted suppliers with a number of payment options.

Suppliers with bank accounts in Australia, Canada, Great Britain, or The United States can have payments electronically deposited directly into their bank account at no cost via our direct deposit payment methods.

Suppliers without a bank account in any of the countries above can have their payments electronically deposited into their bank account via our wire transfer payment method.

If your currency is included in the list of supported currencies below then you can choose to receive the wire in your local currency at a fee of $6.00 USD per transfer or you can choose to receive the wire in US Dollars at a fee of $15.00 USD per transfer.

If your bank’s currency is not included in the list below then you can choose to receive a US Dollar transfer at a discounted rate of $10.00 USD.

Currently, we are offering payments in the following currencies:

AUD Australian Dollars
CAD Canadian Dollars
CZK Czech Republic Koruny
DKK Denmark Kroner
EUR Euro
HKD Hong Kong Dollar
HUF Hungary Forint
INR Indian Rupee*
ILS Israel New Shekel
JPY Japanese Yen
KWD Kuwait Dinars
MXN Mexican New Peso
NZD New Zealand Dollar
NOK Norwegian Kroner
PHP Philippines Pesos
PLN Poland Zlotych
GBP Pound Sterling
ZAR South African Rand
SAR Saudi Arabia Riyals
SGD Singapore Dollar
SEK Swedish Kroner
CHF Swiss Franc
TRY Turkish Lira
AED United Arab Emirates Dirhams
USD US Dollars

All of our suppliers can choose to have their payment sent using our air-mail check payment method for a fee of $4.00 USD.

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 Swiss Francs, Euro, Mexican Peso and New Zealand Dollar. There is no fee for a FCEFT payment. More information on this payment method can be found here.

Each accounting period is a week long. A new period begins each Wednesday.

All transactions that have deposited before the close of each period will be processed and payments will be disbursed the next day, Thursday. However, if the payment date falls on a US-banking holiday, payments will be disbursed on the next business day.

Account Verification:
All accounts are subjected to our account verification processes.

While this process is usually seamless, difficulty in verifying the legitimacy and status of your account can result in the delay of your payments.

Important Note:
Suppliers selling tangible goods should not expect payment until 2CheckOut can confirm receipt of goods shipped, and they were received as per the terms advertised on the supplier’s website or auction. Delaying shipment until you receive funds is NOT considered an acceptable business practice.

Suppliers selling intangible goods, such as service related products (e-downloads, hosting, etc.), should not expect payment until 2CheckOut can confirm that your services have been rendered.

All Payments are subject to Reserve Funds.

*2Checkout.com has been informed by our bank that with the banking regulation in India that a wire can only be issued for payments that are over 100,000.00 INR and must include the IFSC (Indian Financial System Code) code for your bank, along with your bank’s full address and branch name – please contact your bank for the correct IFSC code.

The amount of reserve, and the period of time it is held, can be adjusted either higher or lower by 2Checkout at our sole discretion.

Factors that can influence reserve levels:

• Transaction, refund and chargeback history with 2Checkout
• Transaction, refund and chargeback history with a merchant account provider ( statements required )
• Suitable business references, or other documentation, establishing a concrete business history
• The nature of the product being sold
• The time required until product fulfillment ( i.e. a one year membership ).

If you experience an increase in reserve, but feel you have adequately addressed any issues that contributed to a temporary increase in refund or chargeback utilization, simply submit a ticket requesting that your account be analyzed for a reduction in reserve.

Additionally, a staff representative will always be happy to work with you and your staff in order to provide solutions to potential problems that you may experience.