Man, I really should have looked into this before .. but I guess this will serve me right :(

I signed up with an account from 2Checkout ... and had a client make a large order through it. 2CO then said some rubbish about "we have to verify the payment from the client", which they then did (4 weeks down the line). I then gave them a call, and they said it should go out via wire transfer on the 1st of this month. Now.. am I being stupid here.... or does it really take 11-12 days for a wire transfer (USA > UK) ? It would have almost been better for them to send me a cheque, and then cash that :(

Has anyone else had a similar story? This is really messing me up... as its quite a bit order (and I had to put some startup capital in myself, to make the inital purchase).

Eugh!

Andy (mod)
andy@ultranerds.co.uk

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In theory a wire transfer should happen instantly (hence the 'wire' in wire transfer), but the paperwork necessary to send out the wire can take a while.

I know it takes PayPal 3 or 4 business days to get money wired to my bank account.

You have my sympathy...

Yeah, PayPal takes 5-7 days for me to get it sent to my account ;( I swear a lot of it, is to just make interest on our money, whilst they have it :(

Cheers

Andy (mod)
andy@ultranerds.co.uk

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Yep. PayPal claims not to make any interest off of the money, but if I was them, I know I would be.

Some banks in the U.S. are notorious for claiming they haven't rec'd a wire until you go through the trouble of getting a tracking number from the Federal Reserve (Fed Reference #) and then suddenly they "find" it the first thing the next morning.

I don't know if I'd put the blame square on Paypal. There are a number of banks involved in the process, including intermediary banks. And banks often put people through the hoops. I deposited a very large US 'certified' cheque in my account from one of my clients, only to be told that it will take 15 to 30 business days for the cheque to clear - because CIBC (Canadian Imperial Bank of Commerce) has no formal banking relationship with most US banks. They have to mail the cheque to the bank in the US, and then await a response by mail.

And, I've been using 2CO for about 6 months now. No complaints. Are you sure that 2CO did not mean that they had to verify your account? This is policy for new 2CO clients. However, I was verified instantly within a few days - so the time can vary. As far as wire transfers, the time it takes does vary. However, my bimonthly wires from 2CO are deposited in my bank account the same day. Also, did your client pay via credit card or cheque? If by cheque, then it can take significantly longer to process.

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Cheers,

Dan
Principal

Virtual Solutions

Credit Card (1 month and 16 days ago!, and another large order 2 weeks later, and then a $100 one a week ago). They surely can't say that its an "unused" account? (they were trying to say this before, as I only had one payment go through, and it was a new account).

I'm gonna give them a call later. They are really pissing me off with this :(

Cheers

Andy (mod)
andy@ultranerds.co.uk

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