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WTF 2checkout

Discussion in 'Offline Marketing' started by usama18, Feb 1, 2012.

  1. usama18

    usama18 Jr. VIP Jr. VIP

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    Hello Friends

    I was firstly using Plimus to get payments but after they change their policies of not getting payments through paypal if you dont have paypal. I switched to 2checkout as everybody in this forum also recommend 2co. It took 15 days to be approved from them ok now what happened to me.

    Yesterday i sold one of my product for 349$ in 2checkout my clients pay through paypal but Pending balance is only 291$ this is shit.

    They Deducted
    2Co Fees = 19.65$
    R Held = 17.45$ (Why This ??)
    Payment Fees = 20$ (Also Why This ??)
    Total Fees = 57.1$ from 349$

    Is this not Insane ??

    One more thing For Wire Transfer Realease Level is 300$ and the Fucking thing is i will not get paid still .

    If someone experienced can shed lite on this so please.
     
  2. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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    WOW.... nearly 20%

    Thats f@ckd up main.
     
  3. usama18

    usama18 Jr. VIP Jr. VIP

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    Absolutely Destroying . . .
     
  4. boom1

    boom1 BANNED BANNED

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    bit of guessing here so you should really ask 2co for full details

    the R held, is normally a rolling reserve thet they keep and pay back to you after 30-60 days

    their fee is self explanatory

    the other $20 my guess is that is a paypal fee
     
  5. accelerator_dd

    accelerator_dd Jr. VIP Jr. VIP Premium Member

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    Yeah that's too much. If someone was to open up a new payment gateway service like this they'd make a killing.

    There's nothing you can do really as any alternative will be close to that.
     
  6. seoguru13

    seoguru13 Senior Member

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    Will help you understand this better...

    1. 2CO charges 5.5%+ $.05 per transaction 5% of 349= 17.15+.5= $17.65
    2. A reserve of 5% is made on total transaction, which will be released at the end of 3 months. This is for chargebacks. I just realized my reserve is now more than $1000 in 3 months! But, it's a rolling reserve. At the end of 3 months, the reserve on the first payment is released and so on.
    3. $20 must be your wire transfer fee. For me, it's just $6, and that seems very fair, when compared to banks that charge 40-50$ for that.

    It seems tough not to get money this week, but plimus pays once a month, so 2CO seems a far better alternative IMHO.
     
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  7. OldSalt

    OldSalt Moderator Staff Member Moderator Jr. VIP Premium Member

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    I used 2CO a long while back and I will say that we got our checks like clockwork - never late. Don't remember what the fees where back then, but I do remember the Reserve but that's already been explained and after 3 months you won't even notice it. :)
     
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  8. BreakAllTheClocks

    BreakAllTheClocks Regular Member

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    A 5% 90-day RR is very low. If you get your own merchant account with no charge history it will likely be 10%++ and 6-months.
     
  9. Seo Lover

    Seo Lover Jr. Executive VIP Jr. VIP Premium Member

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    I am using it and they deduct flat tax rate of 5% and 0.45$ per transaction .
     
  10. usama18

    usama18 Jr. VIP Jr. VIP

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    The Reserve held is ok for me but 20$ payment if its for paypal payment then its very expensive else if its wire transfer fees then its ok.

    But anyone can tell that is there any way to release payments through wire before it reaches 300$

    @how your wire fee is low is there any way to decrease it.
     
  11. seoguru13

    seoguru13 Senior Member

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    I'm not sure if $300 is the minimum payment, as my reserve is $1k. In the account settings>bank account, you can manage the reserve. I'm not able to check the min level, as the settings are locked on a few days during payment processing.

    The $20 has nothing to do with paypal. it is only for releasing your payment I guess.
     
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  12. poweronics

    poweronics Jr. VIP Jr. VIP Premium Member

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    Is moneybookers not a better option as compared to 2co?
     
  13. wbdzgnr

    wbdzgnr BANNED BANNED

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    $300 is the minimum if you chose to be paid using wire transfer. I just got my first payment yesterday. Got $430 in total sales but only paid $368.94.

    Here's the breakdown:

    R Held: $21.50
    2CO Fees: $24.56

    :(

    edit:

    Added them all it's only $415, i don't know where the other $15 went
     
    Last edited: Feb 2, 2012
  14. seoguru13

    seoguru13 Senior Member

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    the $15 must be the transfer fee. Ideally setting the minimum release level high, you'd save on the transfer fee. I'm charged $6 per transfer, so on $300 bucks that's about 2%, and in ur case, it work's out to more than 4%. Also, there's no rule to take put payments every week. If you find payments low ina week, I'd leave that money then and take a larger payment the next week.
     
  15. dheer

    dheer Jr. VIP Jr. VIP Premium Member

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    wondering how you are paying only $6 for wire fee. Here on this page

    https://www.2checkout.com/documentation/sub-merchant_fee_schedule.html

    we can see minimum is $15 for each wire. Even if you get INR the minimum should be $15. Seems like you are getting some special love from 2co ;)
     
    Last edited: Feb 2, 2012
  16. azghanvi

    azghanvi Newbie

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    Little confusion, when you don't get paid ... why is payment fees (wire) $20 is deducted?
    Any idea ? Thanks