Warning about 2CO.com - Looking For New Processor

Discussion in 'Payments processing' started by uobim1, Sep 22, 2011.

  1. uobim1

    uobim1 New Member

    Joined:
    Mar 14, 2011
    Messages:
    1
    WARNING 2CO.com is not recommended based on our experience.

    2CO took us forever to integrate with. First they recommended member management of Magic Members after 4 months we gave up on that because it never worked with them. Switched to Amember which was a great choice as now we'll be able to move to another processor. All in all it took us 6 months to test payments and get everything working wth 2CO.com or 2checkout.com it was one challenge after another. After everything is working correctly including the amember 2co plugin, 2co cancels our account.

    In June we went live with a JV launch (as everything worked perfectly) no sales would go through because their offshore accounts were being blocked by all USA Banks. This not only cost us a lot of money it cost us a relationship with a large JV partner! So we decided to build our affiliate channel next. Another problem, we had a Bank that uses the ABA system to wire. After 4 months of being told it would be added to their system we finally found out from accounting they only work with banks that accept wires through the SWIFT system, which could have been told to us 4 months earlier when we sent them the PDF document for wiring instructions directly from the bank. While we were working with 2co employees this past month they shut our account down because no bank was entered without forward notice and just an email. Even though 2CO told us all along before the bank account would be added but never did add it and they knew we were getting a SWIFT based bank. After explaining the situation 2CO.com opened back up merchant account. We then rushed to open a bank that accepts SWIFT wires. We got that set up and approved for new bank account and added it to the 2co system. It was approved by their accounting department. Then we get another letter of cancelation (THE VERY SAME DAY!), which is the 2nd in 30 days! We have been working hard the last 90 days to build our affiliate channel after the disaster with that large JV and 2CO's problems with their offshore accounts being blocked by banks then we get another letter of cancellation, what the hell is going on. Then yesterday we receive the following letter.

    Thank you for selecting 2Checkout as your payment processor. Unfortunately, due to increased regulations recently placed on us, we will no longer be able to support your account. 2Checkout will continue processing payments for you through September 30, 2011, at which time your account must be closed.

    They are giving us 9 days and this totally screws our business over. We are told it has nothing to do with our business but their processor and new regulations yet they won't tell us what new regulations and how our business is included in them. They will not be specific so we have no clue.

    Only thing we can get out of them is they changed processors and the processor is terminating merchants. It's been a very expensive choice to select 2CO.com. A lot of work and effort down the drain, working with 2co has been extremely costly and created many delays this is just the awful finish after a lot of work. We believed we were going to be with them for many years. It is has been one thing after another with 2CO.com / 2checkout.com over the last year. By the way they have not returned calls to understand specifically what the issue is (as there is none) and closed our account down both times simply email without calling us to discuss, which we do not think is professional. Based on our experience we would never recommend 2CO.com because of their actions.

    Any suggestions for payment processors people are happy with long term that will process offshore businesses (not USA based) and interface for recurring membership with amember?

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