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 .
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