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Old 11-20-2002, 04:18 PM   #1
consent
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Default 2CheckOut policy changes

2CheckOut.com has announced several new policy changes.

One of the new changes:

the "new reserve policy" of a 5% / 90 day rolling reserve
will be mandatory (even for accounts previously grandfathered) and will replace the existing reserve policy.


I am not sure what the above means. Can anyone who uses 2CheckOut explain?
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Old 11-20-2002, 05:45 PM   #2
jokearound
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I think that when each payday comes around they keep 5% back. Then after 90 days it is released, and added to the next paycheck due..

I think..
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Old 11-20-2002, 08:18 PM   #3
consent
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Thanks.

Glad it's not a drastic change.

Not yet.
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Old 11-21-2002, 04:22 PM   #4
darnell
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Quote:
Originally posted by jokearound
I think that when each payday comes around they keep 5% back. Then after 90 days it is released, and added to the next paycheck due..

I think..
That would be correct .

Some other noteworthy changes from my reading of the changes in their Terms of Service:[list=1][*]They will hold ALL your money till your balance due is over 100. See the section related to releasing funds.[*]You have to honor any returns and give a refund. I don't think that was part of their rules before. So now if a customer orders software, they could copy it, request a refund and you're stuck .[*]You have only 7 days to mark an item as shipped or you lose the sale. If you mark an item shipped before actually shipping it you can be kicked out. The customer's card will not be charged till you mark the item a shipped. (I think the TOS mentions we have to inform customers of this.)[/list=1]

I've asked questions about these changes via their support ticket system and I also asked on their message board. I received no response at all to my ticket or my post on their message board. At first they were answering all questions on their message board, but now it seems many questions go unanswered. I have no idea how long we have to honor refund request. (30days, 60days, 90days....I don't know.)

Also, their e-mail mentions another statement that must be on our websites about 2checkout doing the sale, but the need to display that statement is not in the TOS. Seems it would be included in the TOS.
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Old 11-22-2002, 01:07 AM   #5
consent
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Yes, it does seem difficult to get an immediate answer out of the 2CheckOut message board...it's one reason I posted my question here.

I am assuming that if an ordered item is a service and not a tangible item (ie., not shipped) then it is not necessary to mark it as shipped for the sale to go through.

Regarding the statement about 2CheckOut doing the sale...I haven't added it yet.
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Old 11-22-2002, 11:31 AM   #6
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Quote:
Originally posted by consent
I am assuming that if an ordered item is a service and not a tangible item (ie., not shipped) then it is not necessary to mark it as shipped for the sale to go through.
You still do have to mark it as shipped, but they are suppose to provide a method for that to be done automatically if needed. There has been talk about that in the forums.
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