Suppliers who are currently choosing to be paid by wire transfer in any currency other than USD need to be aware of some potential changes in their weekly payments. To provide better service, 2Checkout.com is changing foreign currency providers for wire transfers. This transition will occur over the next few months.
What this means for your everyday business:
- No disruption in the payout of your 2Checkout payment.
- A potential change of reference information on your wire.
- A potential change in the fee charged by your bank as funds will now originate from a US bank.
2Checkout would like to encourage you to select the most cost effective payment option – Foreign Currency Electronic Funds Transfer (FCEFT). The FCEFT payment option can be selected through the VA Bank Wizard and is available in the following currencies:
- AUD – Australian Dollar
- CAD – Canadian Dollar
- CHF – Swiss Franc
- EUR – Euro (Selected Countries)
- GBP – British Pound
- MXN – Mexican Peso
- NZD – New Zealand Dollar
Coming Soon:
- HKD – Hong Kong Dollar
- INR – Indian Rupee
- SGD – Singapore Dollar
The FCEFT payment option allows 2Checkout to pay vendors in certain currencies directly through the banking system of a given country. The following provides a description of the potential fees for these two payment options:
Foreign Currency Electronic Funds Transfer
- 2Checkout fee is $0.00 USD per payment.
- Usually no fee charged by the receiving bank.
- No corresponding bank used.
- Delivery time is usually 2-5 business days.
Currency Wire
- 2Checkout fee $6.00 USD per payment.
- Possibility of additional bank fees charged by the receiving bank.
- Possibility of additional bank fees charged by the corresponding bank.
- Delivery time can range from 14 business days to a few weeks.
2Checkout welcomes your feedback. Please contact us directly with your account related questions or concerns.
