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Wire Transfer vs. Airmail Check (2CO)

Discussion in 'Payment Processing' started by libervisco, Jan 10, 2007.

  1. #1
    Hello

    I am considering changing my 2CO payment option from an Airmail Check to Wire Transfer, but I am not sure about whether that would really end up being better.

    I just got my first check from 2CO, very timely I gotta say, and the fee for that is $4. For a wire transfer the fee to my country is $10. Is it worth it?

    If anyone has an active 2CO account what have you found to work better for you?

    Thanks
    Danijel
     
    libervisco, Jan 10, 2007 IP
  2. Corey Bryant

    Corey Bryant Texan at Heart

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    #2
    Depends on how much money you are making and when you need that money.

    If the check was fast enough - and you have everything covered, then it would seem the heck is fine
     
    Corey Bryant, Jan 10, 2007 IP
  3. adwordz

    adwordz Banned

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    #3
    Chose wire transfer. Takes 3 days. Checks needs time to be delivered and more time to be cleared by the bank.
     
    adwordz, Jan 10, 2007 IP
  4. libervisco

    libervisco Well-Known Member

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    #4
    Well the last payment was bigger than $250 which is the maximum allowed without that long bank clearance (they call it "inkaso" here and I think it's something like "collection" in english) which lasts more than three weeks so yeah it's quite long.

    I guess the wire transfer might be worth the extra fee then, though to be honest 2CO fees are really high. There are fees per every sale plus these transfer fees and plus some reserves (that are released only later).

    Anyway, thanks.
     
    libervisco, Jan 10, 2007 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    Checks typically make take a while to clear as it needs to be sent back to the US for clearing. It could take up to a month to clear. Because of the additional work by the bank, there may be some associated charges involved.

    Wire transfer just takes a few days to clear and there is usually no fees or low fees on your end.
     
    eddy2099, Jan 10, 2007 IP
  6. Amoy

    Amoy Active Member

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    #6
    fees seem to be low for u so wire seem better
     
    Amoy, Jan 11, 2007 IP
  7. libervisco

    libervisco Well-Known Member

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    #7
    OK, I'll set up a wire then.

    Thanks guys!
     
    libervisco, Jan 12, 2007 IP