I have been with 2co (2checkout.com) since almost a year...they seemed to be creating problems every time when I expected a payment release to my bank account in India thus I had a deep chat with one of their support guy and got a nice information that I have summarized as follows for anybody who needs to know about 2Checkout Payment procedure to Indian Bank Account, STEP 1: When the customer places their order on our website 2co gains an initial authorization from the bank that the funds will be available to them. There are no transaction fees charged at this time. We can view the details of these sales as soon as they are placed by following the instructions at the link below. https://www2.2checkout.com/documentation/UsersGuide2/chapter4/find-sale.html STEP 2: 2co then allow 2 to 24 hours for fraud review and for us or customer to make any necessary changes or cancellation to the order. The 'Status' section of the Sales Details page will display as 'approved' during this period. The 'Date Paid' section of the Sales details page will display as 'Not Yet Paid'. STEP 3: Within that 2 to 24 hours we receive notification from 2co's fraud department of the Fraud status of the order. After the order has passed Fraud it sends a request to the customer's bank to withdraw the funds for the order. It can take from 24 to 48 hours for the funds to deposit. The "Status' section of the Sales Details page will display as 'pending' once this request has been sent. The 'Date Paid' section will still display as 'Not Yet Paid'. STEP 4: Once the funds have reached the 2co's account they are deposited into our pending payment. The 'Status' will now display as deposited. The 'Date Paid' section will change to 'pending'. IMPORTANT NOTE: For most orders the status changes from 'pending' to 'deposited' within 24 to 48 hours. However, American Express orders can sometimes take between 3-7 days to deposit into your 2Checkout.com account. We are then able to see all deposited orders which are included in payment by checking in the 'pending' row of payment history page. More information on Payment History screen can be found at the link below. https://www2.2checkout.com/documentation/UsersGuide2/chapter2/payment-cycles.html STEP 5: Total payment is calculated at 12:00 pm (noon) EST on Wednesdays. This payment includes all sales which have 'deposited' into our account by that time. The payment is then released out to us on Thursday. (usually gets deposited by Friday night to bank account in India) Once its released, we can notice that the 'Date Paid' section of the sales details page changes from 'Not Yet Paid' to the date which payment was actually sent to us. P.S: I recently got their mail about "IFSC code required for payments to India", to avoid any unwanted delays in payment release as currently with paypal. For more info, http://www.2checkout.com/community/blog/2checkout-blog/important-notice-for-indian-suppliers
Since this thread was started 2 years back ... I would like to know if anything has changed with payment tranfer to merchant bank in India. Some rules were implemented by Indian govt and Paypal had to change their way of transferring money to Indian banks. I guess 2checkout also must have made some changes.
Hi, I'd like to know about the first payout. I have about 2 grand which I made over the last 10 days but they didn't pay me this week because I "hadn't set bank info live". The bank account is now "live" so do I expect to get paid this Friday or are they going to pull some more shit?
Is it necessary for us to "mark as shipped" intangible services that we have completed? I just tried doing so but get the error message "An error was encountered while trying to mark a sale shipped. Please contact customer support." My account status is Account Status: Y (Allowed to Sell, Allowed to Pay). But I haven't got the first payout yet.