Written on: 30/03/2013 by craigedmonds (1 review written)
I have (had) an account with them for 8 years, never had any chargebacks no issues with my account and processed ten of thousands of $ in that time. I am a registered legit US business for over 12 years and not a back alley fraudster.
Recently I had TWO chargebacks for €15 each (first ones ever after thousands of transactions) and they advised me not to refund the chargebacks through the 2checkout control panel and let the chargeback system do its work. I followed the advice of 2checkout to the letter.
In fact, I even contacted the customer who is a good friend of mine for many years and he had no ideas about the chargebacks!!!!!
Yesterday however, out of the blue, I received an email from 2checkout saying my account was closed and all my funds were now on hold for 90 days.
No warning, just my account is closed, we have your money and nothing you can do.
Here is the email.......
Dear XXXXXX LLC,
The following notes have been added to your account.
Please review this information and take corrective action, if needed by: as soon as possible.
Details: We regret to inform you that 2Checkout can no longer support your payment processing. Because of high recent chargeback activity, we were required by our upstream provider to close your account 1289898.
Whenever an account is closed, we try to provide time to locate a different payment processor, but we were not given this option in this case and were forced to close your account immediately. Your account has been closed and has read-only access and you will still be able to review your sales information. The account will be paid out 13 cycles after your most recent sale. We hold payment for 90 days to allow time for refund and chargeback activity.
We sincerely apologize for the inconvenience this may create for your business. Although we are no longer able to work with you, we do wish you the very best for your business going forward. If you have any questions, please contact us at firstname.lastname@example.org.
WHAT DA FRACK???
DONT USE THEM UNLESS YOU ARE DESPERATE!!!