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.
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.
11 Comments »
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[quote]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)[/quote]
Looking forward to see these features.
Wonder Euro payments via ACH would be applicable to all European counties for which Euro is come as default currency even to those not in EU?
And will it affect payment schedule, release level and payments fees in any way?
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Sensovision,
Only the countries that are listed, would be able to receive payment via ACH in Euros. This is due to bank relations, and as those relations grow we hope to add more countries.
The addition of the new ACH’s will have no impact on the fee structure, release level, or payment schedule.
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thanks for clarification, Geno!
Since you say that it wouldn’t affect fee structure, release level, or payment schedule, than I don’t see big benefits except that transfers would take less time to complete(am I right?).
Anyway I hope that my country would appear on this list some day as well.
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The benefits may be fairly substantial, depending on the supplier’s specific circumstances.
While this doesn’t effect the fee structure, it does avoid the fees associated with payments made by wire.
It also lowers the release level to $10 USD (down from $300 USD) which, while this doesn’t effect the payment schedule, may result in receiving payments more frequently.
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Thanks for info, Cliff! than ACH would be really useful to me as lowering release level could be very useful sometimes. And excluding wire associated fees is also very good point.
So I’m looking forward for implementing it with my country if not whole than at least with my bank
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Could you please advice whether these currencies will be also supported for purcharses through 2checkout? I am particularly interested in the MXN peso.
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Unfortunately, I cannot estimate when currencies will be added to the transaction process. The decisions about which currencies to support is not a decision 2CO can make directly.
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Iam from Mexico and Iam trying to fill the Foreign Currency Electronic Funds Transfer wizard.
What Iam supossed to put in the “Name on Account (Payee)” row?
I have tried with my name, my vendor number, my login name and my company name and I always get the following error:
Missing: Payee name must be filled in and a valid user on the account Name on Account (Payee)
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gingi, Please contact us directly, so we can assist you with this. Just click the “Help” tab at the top of the page for our contact information.
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2Checkout, could we please have an update on when this new service will be available - I am especially interested FCEFT funds in NZD currency. If you could please provide an update… Thanks!
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The new FCEFT option is available to you in NZD using our new vendor admin area. You can access this area at http://www.2checkout.com/va/. You will then need to run the banking wizard to set the new method. You can find this by clicking on Account, then Bank Account, then click the Banking Wizard button located on the right hand side.