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Anyone with experience with 2co?

Discussion in 'Business & Tax Advice' started by kasher9, Mar 26, 2014.

  1. kasher9

    kasher9 Jr. VIP Jr. VIP

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    Hey guys
    My business is moving at a rapid pace now as I am doing IM fulltime, so I really want to move off paypal. I never really had this issue before as 90% of my clients paid via cash or bank transfer but now 70% of my clients are online and pay via paypal so I gotta find a solution quick. Who has experience with 2co? I think they are the only merchant I have found that accept paypal as payment, their fees are higher but paypal has majorly screwed me before even though my account is fully legal and I receive only legitimate payments. Can anyone help a fellow im'er out? Are 2co better than paypal? Is it worth all the ridiculous documents they ask for?
     
    Last edited: Mar 26, 2014
  2. bk071

    bk071 Jr. Executive VIP Jr. VIP Premium Member

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    People at their approval team are extremely picky and will probably turn down your application if you're from one of the 'high risk' countries (India, Pakistan etc).

    I applied like 3 times, provide ALL documentation, had several calls with them over phone... and at the end, here's what I got:

    "3rd party background check?" Yeah right sounds fancy. If anyone from 2checkout is reading this, I would like to know what kind of checks you ran and the results. Prove it or admit that you guys are jerk offs with your heads up your asses :)

    I'm extremely cautious when sending someone my IDs and Passport.. so it pissed me the fuck off when I received that email. And if that wasn't enough, they're referring me to a company that is mentioned nowhere on their website... wtf.
     
    Last edited: Mar 26, 2014
  3. kasher9

    kasher9 Jr. VIP Jr. VIP

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    What the fuck seriously, they didn't give any more reasons than that? I'm from the uk so I don't think it'd be an issue, but they seem like major assholes. My driving license was being held by the police as I received some points for speeding, I told them this as they requested my license and they started to complain so I became reluctant.


    Did you try the "partner" *cough* affiliate site?
     
  4. Vanrithy

    Vanrithy Power Member

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    Trust me, they're picky but the quality of them is good! I have used them for quit some time and they were good.

    Make sure, your products/services are compliance with their policies as well as reading their TOS.
     
  5. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    It's an Algo, of course it can be gamed.
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    I use them for several of my services and they are easy for me to work with; that being said I am in the USA and although approval is a little slow (about a week or so) I get approval. Customer service is a little slow as well but once we got things set up they are fine.

    We pay 2.9%+ .30 per transaction so I think those fees are in line with PP although I am not sure.

    They do handle everything though... Visa, MC, Amex, PP, etc so you don't have to deal with a variety of revenue management systems and that is a help for me on my admin end.

    I'm actually setting up a new entity and am going to use them for it as well.
     
  6. bk071

    bk071 Jr. Executive VIP Jr. VIP Premium Member

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    LOL no didn't try it and I don't intend to try it any time soon.

    UK should be fine though. They're weary of countries with higher fraud rate and unfortunately, I happen to be a citizen of one of those countries :p
     
    Last edited: Mar 26, 2014
  7. subro82

    subro82 BANNED BANNED

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    They are only good if you are offering web design or something straight up legit that doesn't have a hint on black hat to it.
     
  8. Aty

    Aty Jr. VIP Jr. VIP

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  9. kasher9

    kasher9 Jr. VIP Jr. VIP

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    I wouldn't bother if you tried 3 times mate. What do you use now then?

    Yeah I only offer legitimate services, I'm just a bit iffy about them having a bank statement from me.

    Hmm thanks for the info

    Really? why?

    Oh wow, they showed me a rate of 6%, how did you get that rate? I don't really give a shit if they take that tbh either way, I really hate paypal so I need another option fast.
     
  10. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    It may be because I have several accounts with them but I started with them 2 or so years ago and we got the 2.9 right away. It is for SEO services obviously and perhaps because it was an established business and a USA Corp that may have helped.

    I would phone them up as they are just regular people and I am sure they are open to negotiation.
     
  11. SquirlyNutz

    SquirlyNutz Power Member

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    Im using 2co and can't complain. Their a little pricey but worth it in the end.
     
  12. kasher9

    kasher9 Jr. VIP Jr. VIP

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    Yeah I mean I'm still just a smalltime guy haha - I highly doubt I even do half of the business you do so you're probably in a better position to negotiate. What info did you have to submit back then?

    Thanks for the advice, what info did they ask you?
     
  13. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    We didn't do much with them to begin with... about 25K USD or so a month so I was not balling with them as most of our revenue is direct through Paypal. I don't believe they asked for much but I may have had to send in my incorporation papers and my tax identification number (ein) but nothing out of the ordinary.

    They are in the same time zone as NY so you can call and say that you know people getting 2.9 and you want the same rate. Heck just like buying a car, nobody pays sticker.
     
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  14. kasher9

    kasher9 Jr. VIP Jr. VIP

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    You see I'm barely on 10k/month now as my margins on most of my products are relatively low to hit mass market, so even then you were banking way more than me but thanks for the advice, I might give them a call again but they ask for a fuckload more now; 2 bank statements, 2 utility bills, driving license and passport. I don't really mind all the others bar the bank statements as some of my earnings go to my swiss account instead of my uk account. I hope I can reason with them in regards to the bank account.


     
  15. RxAff

    RxAff Regular Member

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    If you have troubles with 2Co I can recommend low and high rish processing for u, not third party as 2CO, but direct Internatioanal Payment processing
     
  16. Aty

    Aty Jr. VIP Jr. VIP

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    Tried to pay for a service like 10 times or so, they rejected my payment every time. Then I asked them to delete my account and they refused. Total jerks like bk071 said. Avoid 2CO.
     
  17. youngturkbala

    youngturkbala Power Member Premium Member

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    In India, Sucks on 2Co. I have applied 2-5 times but not approval. Each time show Application refused.