ONLINE BANKING

If you are thinking of starting an online business, you will definitely consider online banking. in-case you are not, you are surely missing out on something invaluable. look at it this way, in today's world, almost everybody is highly educated and getting a job is becoming a nightmare. in order to survive the hard economic times we  not only need to be educated but also need to be street smart. The internet has provided us with an opportunity to beat recession if we think outside the box. I personally prefer to be my own boss and work at my convenience. Am not against getting employed because if you look at it, under employment , you get a regular income, but for the internet business, your income will increase exponentially as you continue to network, not to mention that you work at your own convenience... so be the judge.

Currently, we have quite a handful of online financial service providers. Online businesses are gradually taking over traditional offline businesses. Financial and IT gigs have taken advantage of this opportunity, and have designed amazing online bank accounts and they are all tailored to suite the needs for their different customers. I have a strong feeling that in near future, anyone who does not initiate the use of the internet in their business will be irrelevant. However, when using these services, there is a risk of falling a victim of a scam. Some examples of online bank accounts are: PayPal, Alert Pay, Liberty Reserve, among others. I recommend these because they have mechanisms put in place to ensure the safety of your money.

You are maybe wondering how these online accounts work. The good news is that they are quite easy to  use. You only need an email address to sign up, plus a few details. Note that they do not ask for sensitive information such your credit card number. Once your account is ready, you can deposit your money through: bank wire, bank transfer, credit card, depending on the account you are using. Once you have loaded your account, you can easily send money or receive payments directly in to your account. all transactions are easy to perform and are confirmed via email by both parties, as a way of authorization. You can also withdraw your money from your online bank account using: bank wire, bank transfer, credit/debit card, or having a check sent to you via post. Again, it all depends on which online bank you are using. The financial websites have a friendly user interface, to facilitate you through each step, so no need to worry about the jargon. With such convenience, you will conquer with me that online banking is the way to go.

What of security concerns? May be that's what ringing in your mind right now, and i feel you because even I cannot get into something that does not guarantee me a sufficient level of security. Bearing in mind that we are dealing with real money here, it makes sense to only accept if we get a highest level of assurance. One thing I love about PayPal and Alert Pay is that they have features that ensure security of the data you enter. These features include SSL Encryption, VeriSign, Mc Afee. They are useful in ensuring that any information that could be used by a third party to siphon your funds does not leak to such crooks. These are just but a few of security features that online bank accounts put in place to ensure maximum security.

Its very important to have a credit card or a master card for easy withdrawals and deposits. You can use the card to load money to the online bank account, or even from the online account to the card account. A good example is the KCB General Purpose Card. I prefer this particular one because it is easy to get, plus you do NOT need an account with KCB to get it. All you need is a copy of your ID/Passport, a passport size photo, a completed form and Kshs.1000. The card should be ready within not more than 5 business days.

I will give you more details of these online bank accounts in forthcoming articles. Before i finish, let me say that you can mint some extra bucks from the internet, regardless of what profession you are in. Just do your research well and you will be amazed of your discovery. Even if you are employed, a few more bucks from a side online business is not bad after all.

Written by:
 tsmunyeki