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I am looking to use 2checkout soon! I need more information though.

by AmandaJane
15 replies
I am looking to use 2checkout for my service here at the forum as an added payment option. I am starting to dislike paypal now.

Anyway, just a few questions though...

I am from Asia, and from the list of countries they service, I am pretty sure that my country is included. However, how do I withdraw funds from 2checkout? This is something not very clear to me. Do they also schedule payouts? If my understanding is correct, they do weekly payouts..but is this something that they can guarantee for long? I hope longtime 2checkout users will share their experience with this service.

That's all I need to know before I make the final decision of switching from paypal to 2checkout.

Thanks for all your help!
#2checkout #information
  • Profile picture of the author Burton Lancaster
    It's all done automatically which is good ... paypal doesn't tell you how much to keep in your account, but if you make too much, and then withdraw too much you'll sometimes get a not so friendly call from their risk management team asking probing questions. Good choice to move away from paypal.
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    • Profile picture of the author AmandaJane
      Originally Posted by Burton Lancaster View Post

      It's all done automatically which is good ... paypal doesn't tell you how much to keep in your account, but if you make too much, and then withdraw too much you'll sometimes get a not so friendly call from their risk management team asking probing questions. Good choice to move away from paypal.
      Yeah! Like what I said in my previous post, paypal slapped my business account last week because of two consecutive payments (WTF!) and their reason for doing the limit, is because of a suspicious activity. What is so suspicious in receiving two payments in one hour?? Anyway, my account was restored, but I had to go through A LOT!!! IDs, utility bills, customer order information blah blah blah. I don't want to go through that kind of stuff again!

      So there..I'd really like to know more about 2checkout first before I make the move.
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      • Profile picture of the author Mark Y
        Hi Amanda,

        I've used 2CO for my latest membership site, and while there was a little learning curve overall I'm pretty happy with them. I imagine it's not unique to them but I really like the way you can customise the checkout screen.

        I don't recall seeing a "time" based payout option, but rather they will pay out depending on the value in your account. I just set mine to $200, so every time my account reaches that value they do a transaction straight to my bank account. I believe the lowest payout figure is $50 from memory.

        There are a number of methods to withdraw funds from 2CO however your options will be dependent on what country you current live in. You could ask them directly for more information or let us know what country you're from and we'll see if we can nail it down for you.

        If you need to know anything else about my experience with 2CO just let me know, happy to help!
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        • Profile picture of the author AmandaJane
          Originally Posted by Mark Y View Post

          Hi Amanda,

          I've used 2CO for my latest membership site, and while there was a little learning curve overall I'm pretty happy with them. I imagine it's not unique to them but I really like the way you can customise the checkout screen.

          I don't recall seeing a "time" based payout option, but rather they will pay out depending on the value in your account. I just set mine to $200, so every time my account reaches that value they do a transaction straight to my bank account. I believe the lowest payout figure is $50 from memory.

          There are a number of methods to withdraw funds from 2CO however your options will be dependent on what country you current live in. You could ask them directly for more information or let us know what country you're from and we'll see if we can nail it down for you.

          If you need to know anything else about my experience with 2CO just let me know, happy to help!
          Hello Mark Y,

          Thanks for the loads of information! This will help. So far, I am getting more positive reviews about 2checkout. I already submitted my application, so I am just waiting for their approval. I don't know how much time is needed though for the approval.

          I am from Asia, Philippines to be exact. I also submitted a ticket to know the following banks that I can use in order to withdraw money from 2checkout. However, if you have this information already, I'd appreciate if you can let me know about it right now.

          Thanks! You are a BIG help!

          Amanda
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  • Profile picture of the author johnben1444
    Any question you have can be tailored towards 2CO, they definitely respond on a timely basis.

    I don't use them for my service or any other credit card processor due to the high charge backs.

    I don't know if they have a good measure in place now that takes care of this mess.
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  • Profile picture of the author mrgoe
    Don`t burn bridges with paypal though. There are a lot of services you can buy ONLY with paypal.. but for receiving money, yes, 2CO is a great choice.
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    • Profile picture of the author Mark Y
      Here's a list of the methods we have available to get paid by 2CO: PAYOUT METHODS

      Looks like your best bet is the Payoneer Card or Currency Wire. The Payoneer Card appears to be free although I have no idea how to actually obtain one sorry. The Currency Wire is probably easier to setup however you do have to weigh the cost of those transfers and the USD$300 minimum transfer amount.

      As Johnben has said though, 2CO does have good customer service so any questions you have will be fully answered in a timely manner.
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    • Profile picture of the author JessZ07
      Originally Posted by mrgoe View Post

      Don`t burn bridges with paypal though. There are a lot of services you can buy ONLY with paypal.. but for receiving money, yes, 2CO is a great choice.
      Agree with this! Generally, people also feel more comfortable using PayPal and so it is one less reason for them 'not to click'.

      Not discouraging use of 2CO, just a consideration for you ...
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      • Profile picture of the author Alexa Smith
        Banned
        There's some confusion and misunderstanding in this thread: 2Checkout is being discussed, in some posts above, as if it's an alternative to "being able to take payment by PayPal".

        It isn't: taking PayPal isn't a facility you lose by using 2Checkout.

        Indeed, for many vendors/merchants, the purpose of using 2CheckOut is that that way their customers can pay by PayPal, but without them needing to use their own PayPal accounts to receive the money.
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        • Profile picture of the author Mark Y
          Originally Posted by Alexa Smith View Post

          Indeed, for many vendors/merchants, the purpose of using 2CheckOut is that that way their customers can pay by PayPal, but without them needing to use their own PayPal accounts to receive the money.
          This... ^^^
          You won't lose the ability for your customers to pay via PayPal, it's already integrated into the checkout system along with the usual creditcard methods.


          With regards to the application process I didn't find it too bad and they weren't overly taxing or unrealistic in their expectations - perhaps things have changed. And at $10 now it's quite reasonable. One thing I will say, and this comes from owning companies in the finance industry, is that after 9/11 and the GFC anything to do with finance, money, currency, etc, is staggeringly more paperwork intense! It's just how the world spins now.
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  • Profile picture of the author stoltingmediagroup
    Can't say that we've had a great experience with 2CO's application process a few years ago, when a $49.99 fee was charged for the privilege of applying, but then to not be approved (while keeping our fee). Thus since then this service has left a bad taste, and is never recommended from this end when asked.
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    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by stoltingmediagroup View Post

      a $49.99 fee was charged for the privilege of applying, but then to not be approved (while keeping our fee).
      I don't blame you! That's surprising - that would leave a bad taste with anyone, you'd think, and cost more in lost goodwill than it gained in $50 fees?

      I'd always imagined they handled that like ClickBank (i.e. that you didn't actually have to pay the fee until you'd been approved). What a peculiar way to run a business! :p
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      • Profile picture of the author stoltingmediagroup
        Originally Posted by Alexa Smith View Post

        I don't blame you! That's surprising - that would leave a bad taste with anyone, you'd think, and cost more in lost goodwill than it gained in $50 fees?
        That's a good point, and one worth passing on to merchants who choose not to refund their customers when the anticipated service paid for has not been provided. It will result in that same customer not recommending your service to others, even years later.
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        Arnold Stolting - Stolting Media Group
        "I LOVE The Song! The Vibe Is Positive And Firm!" - Kymani Marley. (Son of Bob Marley).
        "Very High Quality!" Jeremy Harding - Manager / Producer. Sean Paul.
        "They Are FANTASTIC!" - Willie Crawford.
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  • Profile picture of the author Nissim
    Originally Posted by AmandaJane View Post

    However, how do I withdraw funds from 2checkout?
    One option you should consider for receiving your funds from 2CO is Payoneer. We provide you with a Prepaid Debit MasterCard card that will be linked to your 2CO account, allowing you to withdraw funds from 2CO directly to the card. You can then use the card to make purchases online, in stores, and at ATMs worldwide.

    We support over 200 countries including most of Asia. I'd be more than happy to answer any questions about Payoneer.
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    Nissim
    Director of Community at Payoneer

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  • Profile picture of the author CyberSEO
    Originally Posted by AmandaJane View Post

    However, how do I withdraw funds from 2checkout?
    There are two ways to do it:
    1) Bank wire
    2) Payoneer
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