I have been reading the TOS for 2CheckOut and as best as I can tell they only send you your money once a week on Thursday.
A. Standard Pay Periods.
A standard pay period is one week in length, commencing at 12:00 p.m. on Thursday and ending immediately prior to 12:00 p.m. on the following Thursday (“Payment Cycle”). Payments due to you, consisting of the sum of the money received for all Transactions less all fees and charges due to us (“Purchase Payment”) will be paid each Thursday. The period upon which the payments due to you are calculated shall include the forty-eight (48) hour period immediately preceding the start of the Payment Cycle and exclude the forty-eight (48) hours immediately preceding the end of the Payment Cycle.
That is another downside to using them that I can see. I have never seen any merchant account that didn't at least promise to have your money to you in 3 business days or less.
I can't recall how fast I have seen a transfer between PayPal and my bank, but with the addition of an credit card to your account they post your money to your bank quickly.
I also have Square Pay and they have a 3 day window before you get your funds. I could be wrong seems like it was 3 days. Or that might just have been for transactions on a Friday.
Another odd thing I found in the 2CheckOut TOS is they say they hold a reserve equal to a percentage of your gross sales.
We will withhold from you a reserve equal to the percentage of your gross sales (“Reserve”) for each day you participate in our programs.
I know many people use them and I remember when they first came onto the scene for taking credit cards seems like I was analyzing them back then along with other merchant options.
I am curious if 2CheckOut redirects the users to a payment page like PayPal standard does or if all the processing goes on at your website shopping cart and gets transmitted via SSL?
Thanks again for the feed back this is really interesting getting to know how other systems work.
One thing I did notice that sounded good was that Quantum allows you to use a virtual terminal whereas 2CheckOut forbids it not that I have done manually processing more than a few times ever. It is sometimes nice to have that option though.