I received this e-mail from 2Checkout today. Is this a new development? Its just been a month that I started using 2CO on my site and now I am stuck. I never saw or read anything about such restrictions with Indian bank accounts in either 2CO blog or other public forums. Even the other Indian users who use 2CO on their websites never mentioned of it. Could it be something specific to my 2CO account or my bank account? If this is something new, will it affect all other Indian users of 2CO? I can’t have $2500 as my release level as I will have to wait for several months for a payment in that case. I don’t do that much business. Is there anyone or any Indian user of 2CO who can advise me on this?

Regards,
Akash

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Dear ***********,

The following notes have been added to your account.
Please review this information and take corrective action, if needed by: as soon as possible.

Details: Hello,
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.
When you have this information please update the Banking Wizard by entering the IFSC code in the Sort Code field.
Due to this regulation you will need to update your Banking Wizard.
1-To receive funds in INR you will need to update your release level to 2500.00 USD.
2-To receive funds under 2500.00 USD you will need to select a new payment option.
Please contact us upon updating the Banking Wizard so you funds can released on the next available payment cycle.
The Banking Wizard will be available Thursday afternoon, approx. 3 pm EST.

Thank you,
2Checkout.com Inc
1785 O’Brien Road
Columbus, OH 43228
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