I have an internet business and use 7 different merchant accounts to process payments. We just started using 2CO.com (out of business) (Google says business closed) AKA 2checkout.com dba Dodie Dowden were caught dipping into my account without my consent and supposedly "refunding" orders that were already filled.
When a legitimate transaction requests a refund both parties should have the opportunity to contest the issue and submit a detailed report on what transpired...but instead, 2checkout just dips their hand into your cookie jar behind your back and simply takes money out of your account without your consent or previous knowledge..out of 178 orders we placed with them in 8 weeks they charged us almost 9% in fees, held 11% back indefinitely and gave back 14% of sales in refunds...so, in other words we paid 2checkout to go to work. Nice.
I set up a merchant account with these people and they ended up charging me over 6% on my transactions, held back 11% of my sales and would refund my customers without even asking me what happened! The worst part being that the orders they refunded I had ALREADY FILLED!! These guys call themselves your "partner" (they apparently think that they have a right to call themselves your business partner because you LET them process payments for you) Long story short if you need a merchant account don't even think about using 2 checkout.com as they are just another online scam. Particularly watch out for one of their scam managers Dodie Dowden who notified me that she has "already given a refund" on an order she knew nothing about...even though we had already filled the order and lost money on..what a complete moron Dodie is...and the owner of the company is a bigger moron for hiring incompetent scammers to skim your profits behind your back. What's worse is they rip you off and they smile while their doing it...they are much worse then someone that holds a gun to your head and steals your wallet...much worse They conveniently make it very difficult for you to track the "refunds" they give out...there is no list of refunds or credits in your account that you can track...check out the BBB and ripoffreport for more derogatory information on this illegal operation. If you need to process payments then go to paypal or google checkout for fast payouts and they don't"dip" into the cookie jar behind your back...not to mention that they are 400% cheaper and much more cost effective. Also, 2 checkout holds your money for 10 days before they release pay into your account