Has anybody opted for 2checkout's international wire transfers in local currency since they have started offering this? Have you received your wire? We had a payment supposedly go out on 16/7 which has not arrived at the bank, of course 2CO have not answered the emails and support tickets about this.... Wondering if anyone else has had a problem?

how much do they charge you? it seems to be listed as $5 on their site, which is incredible.

I've received my 1/8 remittance few days ago and everthing went smoothly.

The greatest problem is the conversion rate, their USD to SGD rate is only 1.66, which is much lower than our local bank's rate (1.70).

efunc,
$5 - They convert your money to your local currency before they transfer it by wire.

$20 - They transfer your money in USD directly.

If you are transferring a huge amount you might need to consider to pay the $20 processing fee because of their extremely bad rate.

[Edited by request]

cyberultra --> Thank you for the info
I'm looking for a company exactly like 2CO but with lower fees , Also I want to be able to transfer funds to my local bank account in USD not in local currency any ideas ?
BTW I'm not interested of paypal nor Ikobo

Hi,

Please note that 2CO is playing no role in the conversion factors obtained and we are definitely registering and reporting all complaints as to unfair conversion rates.

We at 2CO have not built in any additional basis points to the conversion rates as this is intended to be the implementation of something our vendors have requested for a long time. It is not a revenue stream and additional tweaks to the remittance fee structure will be forthcoming if other changes do not solve the currency exchange issue.

Originally posted by kdach
Hi,

Please note that 2CO is playing no role in the conversion factors obtained and we are definitely registering and reporting all complaints as to unfair conversion rates.

We at 2CO have not built in any additional basis points to the conversion rates as this is intended to be the implementation of something our vendors have requested for a long time. It is not a revenue stream and additional tweaks to the remittance fee structure will be forthcoming if other changes do not solve the currency exchange issue.

My issue is not with the conversion ratio it is with not getting the wire at all 20+ days later, I have unanswered emails and support tickets for days and I am still none the wiser as to where my money has gone. I got on to my bank and they tell me you should do a tracer on it. That's all well and good if you ever get back to me. This is a serious issue going unanswered by you for many days.

@all:
The best solution would be for 2co to issue users an ATM card so the users would be able to cash in on any ATM machine. I hear that is being mentioned among various 2co users on various forums, but nobody described in detail.
So, a question
@kdach:
Does 2co issue ATM cards. I see there is a topic in the FAQ
(sorry, cannot post url, because the WHT doesn't allow if I don't have 5 posts at least, and I don't :| )
but it is empty.
Any feed back would be highly appreciated.

Thanks!

yes best thing is getting InterCash ATM card from 2co. it is fast :)

but first time I get problem with my ATM withdrew it say you haven't founds but my account have money :D

Still waiting reply form Bank of Alabama.

@forumtalk:
But how did you get tem to give you the ATM card? They seem to have no info about it whatsoever on their website. Can you tell me anything more? (fees, charges)

Thanks

Originally posted by intrepid
@forumtalk:
But how did you get tem to give you the ATM card? They seem to have no info about it whatsoever on their website. Can you tell me anything more? (fees, charges)

Thanks

There are information about ATM card in 2co member area. you can find " Account details - > banking details - > now you can see "ATM PAY CARD "

Here is information I can get from 2co

There is a required initial deposit of USD 25.00 plus a USD 25.00 setup fee for a total of USD 50.00 that will be deducted from your 2checkout account and transferred to Intercash and the Bank of Alabama. Please view the table below for details.


One time card setup fee - USD 25.00 [unlimited validity
Withdrawal from InterCash balance to ATM card - NONE
Opening deposit amount - USD 25.00
Monthly charge - USD 6.00 ( this must be a 7 not 6 :D )

ATM withdrawal limit per day - USD 307.00 but i say I can only get 207 per day :D

ATM withdrawal international - USD 3.50

hey please PM me if you need help I am happay to help ;)

@forumtalk:
I'm not a member at 2co yet, so I couldn't reach that section. Thanks for the most detailed info!
I've already had experience in making a php script to accept payments through 2co, but I used someone else's test account.

forumtalk --> Thank you for the info , But what about the exchage rate is it fair ?
When I withdraw funds from my paypal account to my local bank account ( not US bank ) I lose 5%-6% in exchange rate which is not fair :(

Normally I get my founds Draft Encashment Rate in my country :)

If my memory serves me correctly last August Kristi Dach from 2CO fame, sent our money to the Bahamas instead of London and then did it all over again. They repeatedly kept losing the Sort code of British Banks even after they were REPEATEDLY reminded that british banks MUST have a sort code..Don't listen to a word they say as they are the biggest l**** on the Net today,if you don't believe us ask the BBB Institute of Ohio.Andy is his name. If you think Paysytems are a problem then 2CO are a bigger one!!

Well, it wasn't actually me but I take the blame for any of the A/P Department's errors when they are avoidable.

The issue with British sort code acceptance was a software limitation between 2CO and our banking institution at the time. In short, providing info didn't necessarily mean that someone was going to use that info at the bank.

There are reasons we change vendors just as there are reasons you may have found 2CO unacceptable. Unfortunately, changing banks isn't the work of a day or a month and we wanted to make certain that we would be able to provide you with timely and accurate payments. We're very happy (so far) with our new banking relationship as problems like this appear to have been eliminated.

Good try Kristi, IT WAS YOU!!

My name is Kristin (note the "N") and I have not personally handled an A/P payment for nearly two years.

I do supervise the A/P Dept, however, and also answer tickets and emails as need and my own schedule permit. Additionally, one of my staff is called Kristi (no "N" although her given name is actually Kristine) so that may account for the confusion.

This is really splitting hairs and I do accept accountability for my department's errors but I always feel a neener-neener type of post requires clarification. The balance of my initial response stating that A/P routes through a new financial institution is also accurate.