Arty
Well-known member
I used to use them for many years, but few years ago dropped them.
Its good if you do transactions in USD, but if you do transactions in any other currency, look elsewhere. What happens if you accept money in EUR with 2co? They convert money to USD before putting it on your balance, then back to EUR when you withdraw money. What they forget to mention is they use actual currency conversion for that, its not just for display. Rates for EUR -> USD and USD -> EUR exchanges are different by about 10%.
Its not mentioned anywhere on their website, I found out about it hard way after losing a lot of money.
So if customer pays you 100 EUR, it gets changed to USD then back to EUR and amount suddenly becomes 90 EUR. Subtract 2co fees from that and you end up with losing up to 15% of money.
Accepting anything other than USD with 2co means losing about 10% of transaction + fees.
