Erm ... CONVERT is a SQL function, not a Perl one, likewise the money is a SQL constant, not a Perl one. And is you enclose a variable in singlequotes you do not get the value of the variable inserted into the string, but the dollar and the name of the variable. I believe you meant:

$sql_net="UPDATE today_records
        SET current_prem = CONVERT(money, ?)
        WHERE  account_num= ? AND type='OK'";
my $sth2 = $dbh_2->prepare($sql_net);

...

$sth2->execute( $ABC7, $ABC2) || die $sth2->errstr;
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BTW, are you sure the CONVERT() is needed?

#Get all accounts for current term:::

my $sql_back="SELECT ABC1,ABC2,ABC3,ABC4,ABC5,ABC6, ABC7, ABC8
                         FROM TBIBM
                         WHERE ABC2='$account_num'  AND ABC6 = '$accou
+nt_due_date' AND ABC5='$n_year'";

my $sth = $dbh->prepare($sql_back);
   $sth->execute() || die $sth->errstr;

        $sql_net="UPDATE today_records
                  SET current_prem= ?
                  WHERE  account_num= ? AND type='OK'";
        my $sth2 = $dbh_2->prepare($sql_net);
        
    while (my $pointer = $sth->fetchrow_hashref){
          $count++;
       $ABC1 = $pointer->{'ABC1'}; 
       $ABC2 = $pointer->{'ABC2'}; 
           $ABC3 = $pointer->{'ABC3'};
           $ABC4 = $pointer->{'ABC4'};
       $ABC5 = $pointer->{'ABC5'};
       $ABC6 = $pointer->{'ABC6'}; 
       $ABC7 = $pointer->{'ABC7'}; 
           $ABC8 = $pointer->{'ABC8'};

       #done getting all accounts , need to update web db once again w
+ith new data!

                      #$sql_net="UPDATE today_records
                        #SET current_prem= CONVERT(money, '$ABC7')
                        #WHERE  account_num='$ABC2' AND type='OK'";
                        #my $sth = $dbh_2->prepare($sql_net);
                        #$sth->execute() || die $sth->errstr;
                        
                      $sth2->execute(CONVERT(money, '$ABC7'),'$ABC2') 
+|| die $sth2->errstr;    

    }
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