Breaking Grounds Online – Offshore Bank Account

There are several forms of accepting/making payments online : Check, Money Order, Virtual Bank Account/Online Payment Processors , Credit/Debit Card , Wire Transfer.
Some of these methods culminate with (offshore) banks .

Offshore Bank Account :
An offshore bank account is a bank account opened/operated outside your country of residence.
For internet business folks , this offshore bank account literally refers to such accounts with a U.K./U.S. bank, that offer such account; as these are the two major concentrations when it comes to online business activities.

Why You Need One :
* Doing online business – an (U.K. /U.S.) offshore bank account is essential , for a broad and efficient transaction, in online experience. 

* A U.S./U.K. drawn check received , takes two weeks or more to reach your destination – if you’re outside these shores , and another 2-3weeks to clear, plus anything from $20 - $30 bank charges (from your local bank) . lf you were to have an account with any of these offshore banks ; you would bypass all these processes and fees. 

* You can easily get your paypal account verified . you can fund/withdraw with your offshore bank account , to/from your paypal account . 

* Some sites offer direct bank deposits, as an option , too. To this , you’re at advantage if you have an offshore account.
In online business, offshore bank account cannot be dispensed.

Still Other Advantages, Attach With An Offshore Bank Account :
* You get a boost to your online reputation , with an offshore account. Is one necessity, for any aspiring netpreneur (internet entrepreneur) .

* You can open and operate this account online . You get a usual check book, deposit slips - to run your account efficiently ; just like your typical brick and mortar bank , with added advantages .


* You get an ATM (Automated Teller Machine) card ; to withdrawing your account balance – right from any ATM located around the world . 

* You can , as an offshore account holder – request checks that are sent to you - online/offline , to be sent to your bank . Your offshore bank then credit them to your account.

* There are several options to withdrawing your account balance i.e. (1) request for a wire transfer (2) ATM withdrawal, etc. 

* You needn’t travel and spend expensive air fares to open an account , as everything can be done online , and by phone.

Some of these banks you can open an account with , without necessarily having to tender a tax ID/social security number , or a high-profile guarantor or a guarantor of any sort . ls that easy !
There are several , l mean , easy-to-open offshore banks that are ready to open an offshore bank account for you in a matter of days .

Online Payments ? Everyone Needs This Pal

What Is Online Payment?
Is the making of payment(s) virtually, via the internet, basically – with your virtual bank account Online payment(s) can be done also – with a credit /debit card We will discuss that in subsequent posts . Online payment is popular, and a convenient medium of payment; for goods and services; both online and offline .

What Is Paypal ?

Paypal is an online payment processor; a virtual bank; that provides you with a virtual bank account; for making and receiving payments . Just like your typical (offline) bank .

Paypal is one of the major virtual banks/payment processors, online today . With majority of internet users that have account with them.

They have three types of account: 1) Personal 2) Premier 3) Business

1) Personal
The Personal account is basically for those ‘who shop online’ . ls for those who don’t do heavy/much transaction with their Paypal account .
To receive/send payment, with this account is free . But receiving of credit/debit card payment with this account attracts a fee . Which means you can actually receive notonly Paypal to Paypal payments, but also- credit/debit card payments !
There are limitations, to the sending, receiving and withdrawal to/from this type of account .

To view your account limits: log in to your account,click on "view limits" at the right top of your 'account balance' box.

“ Receiving limit: The maximum amount you can receive before you must upgrade to a Business or Premier account This limit is reset every month. Receiving limits apply only to the following payment types: eBay Items, Auction Goods (non-eBay), and other Goods. No other payment types affect your receiving limit. ”

NB: This implies, you can receive any amount from a Paypal account holder, aside the payment types listed above – which there are limits to receiving such eg. Receiving payments for an eBay item(s), auction goods (that’s non-eBay), and other goods .

2) Premier
Is basically for those who ‘ buy and sell online’ ( merchants ) .
This type of account attracts fee, as is not a free account, unlike the Personal account . Premier and Business accounts offer the following premium services:
· All the core features of a Personal account
· Unlimited credit or debit card payment acceptance
· Recurring payments
· PayPal Debit Card
· Mass Payment
· PayPal Shops
· Customizable Transaction History Logs
· 7-day-a-week toll-free customer service
· Multi-user access
· Ability to do business under a corporate or group name

For a list of Paypal’s comprehensive account fees list Go Here

3) Business
The business account is the same as the Premier, except that is for merchants who use company or group name . More of a defined and organized entity/body .

Why You Need Paypal .
* With Paypal, you can pay for goods/items and services online, without sharing your sensitive and vital information’s, such as your credit card/debit card or bank account information . Just simply with your (Paypal) email ( which serves as your account ) address.
* You can conveniently receive/send payments, to the millions of Paypal account holders, worldwide .

* With Paypal, is safe, secure and easy to pay/sell items/goods –
on eBay ( which is one of the biggest auction sites online, and the owners of Paypal ) .
* Paypal does not charge a fee for account to account transfers See More Here

* You can easily integrate/link (add) your bank account to your Paypal account; for funding/withdrawing to/from it .
* You can receive credit/debit card payments with your account . You don’t need a separate credit card processor, to do that .
* Paypal is a universal/worldwide payment processor/virtual bank .

How To Fund & Withdraw With Your Paypal Account
Funding
You can fund your Paypal account with these mediums:
* Your bank account ; you first add your bank account details to your Paypal account ( which also gets your account ‘verified’ ). Then you can now add funds directly from your bank account, to your Paypal account .
* Account to account funding ; a Paypal account holder can transfer funds from one account to another .

Withdrawal
You can withdraw from your Paypal account with these mediums:

* You can withdraw to your bank account
* You can request for a check, to be sent to you .
* You can withdraw using the Paypal Debit Card .
To start using Paypal today, and partake in the benefits that abounds, Go to their site