Vendors have a wide variety of choices in how payments should be sent out from their 2Checkout account. 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. Vendors are able to transfer very small amounts (minimum of $10 USD) from their 2Checkout account to their bank, hence enabling vendors to potentially be paid every week without the penalty of transfer fees. It is recommended by the banking systems for the safety of the vendors that no more than $10,000 USD be transferred per payment for vendors who can receive EFTs, as they are rescindable. Although EFTs are not available in all countries, vendors always have the option of signing up for a Payoneer card to enable their ability receive EFTs.
- Payoneer — The 2Checkout.com-branded Re-Loadable MasterCard® (powered by Payoneer) is the solution for vendors 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. Click on the following link if you would like to sign up for the 2Checkout.com-branded Re-Loadable MasterCard®.
- 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: $6 USD
Release Level: $300 - Wire Transfer (In USD to destination bank based in a supported foreign currency country)
Transfer: 14-21 business days
Fee: $15 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
- 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
- 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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28 Comments »
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Good options are available, my question is i am living india, if 2co receives money how can i withdraw. my clients will pay in dollars and euros etc. will 2co convert the dollars or euros to my currency and can it help in transferring to my bank account.
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Hello Lakshman,
The customer is able to purchase the products in any currency that we have available, including US dollars and Euros. Here is a full list of 2Checkout’s payment currencies.
Once the purchase is made, we add the money to your 2Checkout account, and track it in US dollars. We will then pay you using the option you choose. For India, there are two ways that you can be paid directly in Rupees– wire transfer and the Payoneer card.
The wire transfer option will deposit the money directly into your India based bank account in Rupees, and you can draw your money directly from your bank. Because of regulations from the Indian government, the payment must be at least 100,000 INR in order for us to be able to wire you the money, so this is something to be considered.
The 2Checkout MasterCard powered by Payoneer allows you to be paid by a prepaid debit card that you can use anywhere that MasterCard is accepted. You can also withdraw money in the local currency at any ATM worldwide.
I hope that this clarified things for you. If you have any further questions, please let us know!
Julie
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What exactly does this mean: “It is recommended by the banking systems for the safety of the vendors that no more than $10,000 USD be transferred per payment for vendors who can receive EFTs, as they are rescindable.”
Do you mean you can reverse the transfer but why would that be done? And if a refund is due, isn’t the vendor responsible for that anyway.
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The statement means that wire transfers are considered safer because of the fact that they are not rescindable. 2Checkout can technically rescind an EFT transfer but we do not do it without the suppliers permission. This would only come up if the supplier owes 2Checkout money because of refunded orders and prefers that we rescind the payment rather than waiting for incoming orders to cover the balance. We recommend EFT over wire transfers as they are quicker, free and you don’t have to worry about going though multiple corresponding banks that may add on their own fees.
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Can they be rescinded at any time or up to a certain time only?
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Hi, Julie, Craig or anyone from 2co. Mi name is Roberto, I live in Guatemala, city, Central America (Greetings from here!), I want to start making money with my web pages, so far the options I am venturing are: Google Adsense, Affiliate programs, e-books, review me, links. Some of them only accept PayPal as a payment method for me, but I can not withdraw funds from PayPal in my country. As far as I have looked 2co I have seen that I can do this with you, so I have 2 questions: 1) Which ways are available in my country to withdraw funds from you?. 2) I also saw that you are now accepting Payments with PayPal, I quite do not understand that very well, but my real doubt with this point is if I can transfer my PayPal earnings to my 2CO account, so you can release that money for me, and If so, what would be the fee?. Thank You. Roberto
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You cannot transfer funds from your PayPal account to your 2Checkout account. If you open a 2Checkout account your customers can pay for their orders by the PayPal payment option through 2Checkout. The funds are then deposited into your 2Checkout account just as credit card transactions are and can be paid out to you directly. Payments from your 2Checkout account can be issued to your Guatemalan bank account by USD wire at a rate of $10.00 per wire. Your payment can also be issued by mailed check payment at $4.00 per check or by using the the Payoneer card. Please visit our payments article for more information on payment options.
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Hey 2CO staff!
Im planning on signing up ASAP, but I have 1 quick question. I live in South Africa, would I be able to withdraw via the EFT method? I’m not much of a fan of Payoneer.
Kind Regards!
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ryanza – Banks in South Africa can receive payments via Air Mail Check and International Wire in addition to the 2Checkout Re-loadable Debit MasterCard®, Powered by Payoneer®.
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Hey Joel, are you sure that south african’s cant recieve an EFT? Because i recieved one from elance.com last week?
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2Checkout.com cannot release payments to banks in South
AmericaAfrica using the EFT method. I apologize for any inconvenience this may cause you.+0
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South America or South Africa? If South Africa, would the only electronic payment method be “Wire Transfer (In USD to destination bank based in an un-supported foreign currency country)”?
Sorry i just need to confirm this for a customer.
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ryanza – I am very sorry about that, I did mean South Africa, not South America. If the bank is located in South Africa you can receive payments via Air Mail Check and International Wire in addition to the 2Checkout Re-loadable Debit MasterCard®, Powered by Payoneer®.
You are correct that the electronic payment method would be “Wire Transfer (In USD to destination bank based in an un-supported foreign currency country)”.
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Hi guys. I am new on the e-commerce. I have 2 questions:
1.- I want to sell seats based on a bus – tour program. Is that any trouble with that?
2.- How much do you charge for the wire transfer to my bank account in Peru. All this costs i need to consider for my final prize.
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1. Please contact our Risk department at risk@2co.com and provide some further information about what you intend to sell. They will be able to tell you if we can or cannot accept your bus tour program.
2. A wire transfer to Peru in USD will cost you $10 each transfer.
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I want to start an account with 2co. I am having few questions. I am opening an template package store/product which will make transactions in USD. What is tracking mechanism of 2co? Is this real time basis or hourly basis?
secondly, can payment by PayPal be added as payment option instead of all mentioned things?
How often I can request payout in case of EFT(if paypal is not option, and if paypal is option, then what about it?)
Will you review what I am selling or digital electronic goods like website templates/ebooks/etc. are okay with you?
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Sales are created by passing CGI parameters into our purchase routine. The order session is then tracked by a session cookie that is set in the customers browser. I am not sure if this is what you mean by tracking mechanism. You can either create products in your 2Checkout account with a set price and pass the product ids using our plug and play parameter set or you can pass a custom order total into our purchase routine to create an order using our third party cart parameter set.
2Checkout does not offer supplier payments via PayPal. If you would like to be paid by EFT you can setup your banking information in your 2Checkout accounts banking wizard.
Please submit a support ticket so that our risk department can review your site.
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I want to start on 2CO soon. I am in Sri lanka. Will I be able to receive the funds in my USD bank account in a sri Lankan Bank?. What is the cost per transaction? what is the minimum amount?
What are the other fees involved?
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2Checkout supports both Sri Lankan suppliers and customers. Payments can be issued to your Sri Lankan bank account by USD wire at a rate of $10.00 per wire, by mailed check payment in USD at $4.00 per check or by using the the Payoneer MasterCard. The transaction fees are a 5.5% commission on each transaction, plus a $0.45 charge per transaction. 2Checkout does not require a minimum sales amount other than a transaction cannot go through for 0.00. Please review our fees section for more information.
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Hello,
I represent an IT Solution Company based in Pakistan. We provide designing and website development services to our client.
Can you tell me whether I can sell my services through 2CO?
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2Checkout supports both suppliers and customers from Pakistan. 2Checkout also supports suppliers who offer web design and web development services. Please feel free to submit a support ticket so that your site and services can be reviewed by us.
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Can you tell me the buzz about the URL??? Is it necessary to have a specific URL of the website on which I am selling products??
What if I am selling same product on multiple websites? Would I required to have separate account for each website I sell my products on??
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Vendors wishing to sell products from more than 1 domain would need to sign-up for additional accounts. Please reference this recent community post for more information.
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some more queries.
What is the minimum amount that should be collected in 2CO, to release a payment to my account?
Can I receive the funds into a Sri Lanka Rupee Bank Account in a Local Bank? If so what is the cost of a transfer ?
I use perl as the development tool of the website and the cart. How easy is it to integrate the payment gateway to my system?
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What is the minimum amount that should be collected in 2CO, to release a payment to my account?
The minimum release levels are shown under each payment method under the “Payments Outside the United States” in the above article. These are the minimums that must be in the account, after fees, in order to release the funds. The minimum amount will depend on what payment method you choose.
Can I receive the funds into a Sri Lanka Rupee Bank Account in a Local Bank? If so what is the cost of a transfer ?
Payments can be issued to your Sri Lankan bank account by USD wire at a rate of $10.00 per wire, by mailed check payment in USD at $4.00 per check or by using the the Payoneer MasterCard. We cannot send your payment in Sri Lanka Rupee.
I use perl as the development tool of the website and the cart. How easy is it to integrate the payment gateway to my system?
Please contact our technical support department directly using our online ticket system for assistance integrating your site with our service. Be sure to include a link to your website, if possible, so we may review your system and make the best recommendation on how to integrate our service.
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Hi I’m from Ecuador. I want to be sure before I sign in, what are the payment methods available for my country, what are the costs?
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Hi, I’m from China, are the payment will be like this?
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
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Yes, you are correct. Since we currently do not offer wire transfers in CNY, suppliers in China can choose to receive their payments by USD wire transfer at a rate of $10 per wire. They may also receive payment by mailed USD check at $4.00 per check or by using the the Payoneer MasterCard.