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2Checkout.com / Payments are not as big as expected

1 United States Review updated:

I having been using their merchant services for my online http://www.admain.co.uk. It came to light after a few transactions that my payments where not as big as expected. I am fully aware that the company takes a percentage in the transaction. I am also fully aware that they hold back a percentage in case any of my clients reuest their money back. i am also fully aware that it cost $6.00 ( U.S. dollars) for them to wire my money across.

What I am not aware of is how around 5% of the transaction disappears from my clients making a payment to it reaching my merchant account with 2Checkout.

As an example, the last transaction was for £500.00 ( U.K. pounds). On the day of the transaction I checked with all the leading currency conversion dealers. Each and every single one said I would receive around $929.00 (U.S. Dollars). Yet the amount 2Checkout say it is $876.60 ( U.S. Dollars). Thats a missing total of almost $60.00 and that is on just one transaction, there are similar percentage amounts missing on all transaction.

When I questioned this, I was told that I had started with wrong amount (I have signed invoices which was correct my end the amount that I invoiced customers for), which coincidentally is the same amount I sent an email link to the customer for to make payment, which is also the same amount (the correct amount) which was paid by the customer, which is in big bold figures on my account with 2Checkout.

They have tried to blatantly lie to me, saying I do not know how much I am invoicing customers for, and how much my customer is paying for my services. I am not stupis, I run my own successful business. I know how much my customers are invoiced for, I know how much my customers pay, they send me a signed receipt on deliver of goods. 2Checkout themselves send me a copy of the request for payment link. Its says in my account with 2Checkout, how much in U.K. pounds the customers has paid. It always is over 5% short from converting from pounds to Dollars compared with every currency conversion firm I find. It actually says in 2Checkouts T&C's that with their buying power, converting over $1,000,000 ( U.S. dollars) a week, they get fantastic rates, so if I change currency for lets $500.00, I get a better exchange rate. In 10 tranactions done through them, I am over $500.00 short, on top of their fees.

This matter is ongoing.

Jon

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Comments

  • Ka
      17th of Jan, 2007
    0 Votes

    Jon, I read your comments about 2checkout carefully.

    Even I have had some unpleasant experience with them.

    I am a registered vendor. My compliant about them is their extremely slow wire transfers. The funds have not reached me for one month now!

    When I asked them for the details about my wire transfer they sent me a canned reply. When I pressed on seeking more details they have not replied to me. I have an open ticket (8241-TYPS-4275) in their helpdesk which is lying unanswered for the last 6 days.

    This is supposed to be a US company and we expect emails to be replied much faster.

    If they don't pay their supplier for one month, then something is wrong with their service.

    If they dont bother to reply to a complaint on their helpdesk for 6 days then it is downright it reflects very poorly on this company.

  • Me
      30th of Mar, 2009
    0 Votes

    If you are alway looking for a better service, I would check out menexis at http://menexis.com . Been using them for some time now and no complaints

  • Ja
      3rd of Oct, 2012
    0 Votes

    jak-et-bernadet@safe-mail.net

  • Ja
      3rd of Oct, 2012
    0 Votes

    “HOW TO ACCEPT 2CO”
    hello, i used 2CO for a pharmacy business (ok some people will complain but i had no choice..). i created a plug in to make them allow all kinds of business. easy to use and to integrate. you can message if you are interessed. now i decided to sell it (or get a % on the turnover after application) send me message for more information regards

  • Fa
      21st of Oct, 2018
    0 Votes
    2Checkout.com - why Not Eligible for Payments showing on 2checkout status?
    Karachi
    Pakistan
    researchconsultancyfirm.com

    ID: farazahmed2000
    #203844047

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