We use Oscommerce shopping cart and offer multiple currencies.2CO is one of our payment options.
Is there anything in the pipeline where we can automatically update our currencies to the same as 2CO’s everyday,even a download of the current rates would be very useful.
We alter the rates manually in our shopping cart to reflect 2CO’s at present,but this is not ideal,either would be opening 5 different 2Checkout accounts with different currencies as default.
I’m sure this affects many vendors.
Thanks
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2CO usually updates the currencies at the same time each day which I am told is done automatically.This is good as we can make sure that our rates are the same by checking 2CO at the same time each day.
However today the exchange rates have not been changed at all by 2CO and it is 6 hours past the usual time. We now don’t know when you will be revising the rates and other than us keeping checking with 2CO all the time we have no idea when you will be changing your exchange rates.This means that our prices will be different to 2CO.
This has happened a few times and it would really help if we could be notified when the rates will be updated.
Would this be posible?
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robbo,
We are currently researching the issues you had addressed in your posts and we will update you as soon as we have more information.
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At this time, there is not a method to automatically update product prices within a 3rd-party software package to the currency rates that 2Checkout receives. We also do not currently have a way to notify vendors when the currency rates are updated.
Since 2Checkout accounts can only be set to one currency at a time, one way to accomplish what you are trying to do is to have multiple accounts. We do offer a $19 discount when purchasing additional accounts, so if you are interested in this you can contact our Risk Department for more information on receiving this discount at: risk@2co.com
If you choose to stay with one account, the best solution is to set your cart software to use only a single currency type. Passing amounts to 2Checkout’s purchase routine that are of differing currencies than the one in which your account is set will cause discrepancies in the actual amount being charged to the customer due to mis-matching currency types and varying currency conversion rates.
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For a risk assessment by 2co are multiple accounts with different default currencies treated under the umbrella of one website i.e do 2co not treat these as new accounts but take into account the merchants history from his original account.
I am thinking in terms of reserves held etc.
Also,are payment release levels based on each individual currency account(subject to additional wire charges on each account),or the group of accounts as a whole.
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Neither account history nor finances are lumped together. Payments are released for each individual account you have. If you wish to offer multiple currencies under one website, you can certainly do this, but you would need a separate 2Checkout account for each currency offered on your site. So, whenever a customer would choose a currency to purchase their items, your website would need to make sure that the sale is being placed under the seller ID of the customer’s desired currency type.
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Also, keep in mind that any new 2Checkout account must go through a Risk assessment, even if the accounts you open all use the same URLs.