Prepaid credit cards are convenient for those people who do not have access to traditional credit card approval, because they are available to people who even have terrible credit histories and a really low credit score. Normally credit card companies want to reduce their risk – which mean the risk that those they lend money to will fail to repay the debt – by using credit scores and other means of predicting how responsible the cardholder will be. But that is no necessary with a prepaid credit card because the cash that backs up the debt – and covers any credit card charges or monthly payments due on the outstanding balance – is already on deposit.
There is no guesswork regarding whether or not the cardholder will have enough money saved to cover the credit card balance, in other words, because the cash needed to do that is already in a secure account. That makes it easy to get a credit card through the prepaid credit card approach, but what many consumers don’t realize is that it also offers them a golden opportunity to repair their credit, raise the all-important FICO credit score number, and take significant and intelligent steps toward getting their own traditional credit card account with a major card from Visa, Mastercard, American Express, or other recognized card names.
Getting the prepaid card is the first step, but then using it responsibly takes care of the rest. Just use it as you normally would to do things like shop or pay bills. But be sure that you have a prepaid card whose issuing company tracks your credit and then makes regular reports and updates to the big three credit reporting agencies. That way if you have good credit habits and pay your bills on time, you get noticed for that. The more credit you build, the faster you can repair your credit and raise your score, and soon you’ll be well on your way to approval for your own non-secured credit card.
Offshore Pro Group
Sunday 15 August 2010
What Are the Benefits of Co-Branding in Credit Cards?
Co-branding is a marketing strategy in which two companies form a partnership to achieve greater brand recognition, reach larger markets, and increase consumer spending. The co-branding of credit cards is an effective way for businesses to achieve these goals.
Appearance
- Co-branded credit cards bear the design of the partner company as the background of the card, while the card issuer's logo remains in the corner. Some examples of this are the Shell Gasoline MasterCard and the Jet Airways Visa.
Benefits to Businesses
- Co-branding is successful when both members of the partnership bring value to the new product. Thorough market research is necessary to determine what products will catch on with consumers, but if co-branding is done properly, both partners will gain business. For example, MasterCard will gain loyal Shell customers and vice versa.
Business Risks
- Co-branding is widely regarded as an easy, attractive strategy for a business to pursue to increase profits. The risk in this strategy is that a company could enact an ineffective partnership, which would result in wasted time and resources. For example, while supermarket co-branding with credit cards is a popular in Europe, the idea has thus far failed to catch on in the U.S.
Consumer Benefits
- Co-branded credit cards offer consumers a range of advantages related to the products or services of the business partner. For example, the holder of a Jet Airways Visa Card earns mileage points by using the card, which results in free airline tickets or upgrades.
Consumer Drawbacks
- There are no major drawbacks to the consumer in holding a co-branded credit card versus a standard card, however, some co-branded cards, such as the Shell Gasoline MasterCard are subject to annual fees.
Offshore Pro Group
Sunday 25 July 2010
Smart Banking: Avoiding Hidden Bank Charges & Other Fees
All the information regarding the underhanded tactics that banks employ may have turned you off. You're probably thinking you should do away with banks altogether but before you make that decision, know that all you need is to get smart about your banking behavior, and you won't have to deal with hidden fees or any other sneaky tricks.
Debit Versus Credit
Most banks issue a debit card to customers who open an account and a lot of people use it extensively because it is convenient. However, there are many disadvantages to debit cards that it actually makes more sense to use a credit card.
Banks charge you a fee for in-store purchases and withdrawals from rival ATMs. Plus, if you use your debit card in certain establishments such as a gas station or hotel, your card can be blocked. A certain amount of money (from your account) is frozen, where you won't have access to that amount for about three days. This is a form of security measure for the merchant. Since they are not sure how much you will actually spend at the establishment, they make an estimate and put a hold on that amount to make sure the expenses will be adequately covered.
Keeping track of debit card purchases is a little trickier so the tendency to overspend is higher. If you inadvertently spend more than what your account contains, banks offer a clever little service called courtesy overdraft protection. Courtesy overdraft fees are exorbitant and the last thing you want is to have these fees pile up
Speaking of Overdrafts
If you opened a checking account, do away with overdraft programs altogether. Overdraft fees are typically pegged at $20 t0 $40 yearly and some banks will charge you a small fee each time you make use of an overdraft.
Courtesy overdrafts are even more of a no-no. Some banks charge as much as $40 per transaction. They also charge a daily fee for as long as your account has negative balance.
It helps to know as well that checks are usually cleared very quickly while banks can take a few days before they credit deposits to your account. What does this mean? You should be careful when issuing checks and make sure your account has more than enough to cover the amount. You might be thinking that you can deposit more money later but your check might have already been encashed before your deposit has been credited. This will result in an overdraft.
Credit Union Versus Banks
If you find banks might not be the establishment to keep your money in, consider joining a credit union. A credit union has some significant advantages over a bank. Credit unions typically charge lower fees and offer higher interest rates on your savings essentially because they non-profit organizations. Also, the fact that they are mostly tax-exempt might also be a factor.
Credit cards from credit unions also tend to have friendlier features. If you are late in payment once, for instance, you won't be charged additional interest. Also, most credit unions don't require you to pay annual credit card fees.
Incorporate in Cyprus
Debit Versus Credit
Most banks issue a debit card to customers who open an account and a lot of people use it extensively because it is convenient. However, there are many disadvantages to debit cards that it actually makes more sense to use a credit card.
Banks charge you a fee for in-store purchases and withdrawals from rival ATMs. Plus, if you use your debit card in certain establishments such as a gas station or hotel, your card can be blocked. A certain amount of money (from your account) is frozen, where you won't have access to that amount for about three days. This is a form of security measure for the merchant. Since they are not sure how much you will actually spend at the establishment, they make an estimate and put a hold on that amount to make sure the expenses will be adequately covered.
Keeping track of debit card purchases is a little trickier so the tendency to overspend is higher. If you inadvertently spend more than what your account contains, banks offer a clever little service called courtesy overdraft protection. Courtesy overdraft fees are exorbitant and the last thing you want is to have these fees pile up
Speaking of Overdrafts
If you opened a checking account, do away with overdraft programs altogether. Overdraft fees are typically pegged at $20 t0 $40 yearly and some banks will charge you a small fee each time you make use of an overdraft.
Courtesy overdrafts are even more of a no-no. Some banks charge as much as $40 per transaction. They also charge a daily fee for as long as your account has negative balance.
It helps to know as well that checks are usually cleared very quickly while banks can take a few days before they credit deposits to your account. What does this mean? You should be careful when issuing checks and make sure your account has more than enough to cover the amount. You might be thinking that you can deposit more money later but your check might have already been encashed before your deposit has been credited. This will result in an overdraft.
Credit Union Versus Banks
If you find banks might not be the establishment to keep your money in, consider joining a credit union. A credit union has some significant advantages over a bank. Credit unions typically charge lower fees and offer higher interest rates on your savings essentially because they non-profit organizations. Also, the fact that they are mostly tax-exempt might also be a factor.
Credit cards from credit unions also tend to have friendlier features. If you are late in payment once, for instance, you won't be charged additional interest. Also, most credit unions don't require you to pay annual credit card fees.
Incorporate in Cyprus
US Bank Account as a Non-Resident - A Must to Make Money Online?
We all have Bank accounts in our respective home countries or residences. No problem with that - it is easy to get. We need this to run our lives, do our day to day activities off-line and so on. It is no big deal or a problem. So it is until I got online to make money two years ago.
When you get online and try to make money, then you realize that the rule of the game will change for you. Suddenly you will realize that you need a US Bank account with a Bank over there in the US. Why? Because 80%-90% of the Internet businesses are controlled by people in US / Canada. That is the way it is for now and in the foreseeable future. And I doubt if the equation is ever going to change at all.
When you want to make money online, in most cases the buyer will be a US native who is either using PayPal or a Credit card to pay for things online. You have got to hook up with PayPal by opening an account with them to receive your payments from other PayPal users. But PayPal only allows people from about 50 countries of the world to use her services. In other words, you can not open an account with them if you are not from these 48-50 countries. Then you realize you are stuck.
What is the alternative if this is your situation?
Get a Merchant account or a third party payment processor to take credit and debit cards payments for you. From our earlier equation, 80%-90% of the time, the guys will be in the US. When it is time for the card company to transfer your money to you less their charges, you are going to receive a check which might take 2-4 weeks to get to you, depending on your location. You get the check, assuming you are lucky it did not get lost in transit, and deposit the same with your Bank in your home country. Your bank sends the check for collection in US - another 2-4 weeks. In US, your funds get cleared in 2-3 business days. Then you get your credit. Now your Bank will charge you about $25 - $45 for the check: remember they have to pay DHL / FedEx to transport your check along with other documents, plus they are in business. Get it?
Now for all they care, your check may be for an amount of between $100 and $200, especially if you are just starting out. If you get 10 - 20 checks in a year (yes you can be getting many checks from various affiliate programs) you might find yourself paying $250 - $900 for the year.
Now compare yourself with someone with a US Bank account. He gets paid by what they call ACH (Automated Clearing House) system. This is just an electronic fund transfer system initiated by individual account owners in US to pay others within a network of some banks in US / Canada. This takes just 2-3 days and bang, your money is in your US bank account. It is mostly free to go. In some case you pay a token. I pay $3 to receive ACH into my US Bank account. I live in Africa and I have access to my funds by use of the Card issued to me by the US bank. I can withdraw money daily at the ATM in my country, no problem! My problem is to make the money go into my US bank account:- Also I can use my Card to buy things online, a privilege not enjoyed by many especially in the developing and under-developed countries.
Now you can see that it is a must for you to have a US bank account if you want to make and retain money from the Internet. But getting one is one of your greatest nightmares as a non-resident. A non-resident refers to the non-US citizens, having no residential base in the country. It is generally put in to the use by the country's banking sector.
The banking laws as it concerns a non-resident are very strict. It is almost impossible if you do not know how to go about it. The thing is complex and complicated and most Banks will just avoid doing this for non-residents. For them it is a mine field which only a few have mastered. I spent 4 years researching this after I found myself in the above situation earlier mentioned. In my case I even had money trapped with PayPal, after opening my account in PayPal with a US mailing address (perfectly legal).
I found a way to do it and this is now documented in a Special Report. If you need a US Bank account - I think you should get one and start making money online. This is an amazingly lucrative thing to do if mastered rightly. I have opened my US Bank account and I now sell through PayPal, having satisfied all their requirements. You can now get a US Bank account as a non-resident.
You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach. Follow the above link to get what you need. I feel you have now realized the importance of a US account as a non-resident. So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.
Incorporate in Panama
When you get online and try to make money, then you realize that the rule of the game will change for you. Suddenly you will realize that you need a US Bank account with a Bank over there in the US. Why? Because 80%-90% of the Internet businesses are controlled by people in US / Canada. That is the way it is for now and in the foreseeable future. And I doubt if the equation is ever going to change at all.
When you want to make money online, in most cases the buyer will be a US native who is either using PayPal or a Credit card to pay for things online. You have got to hook up with PayPal by opening an account with them to receive your payments from other PayPal users. But PayPal only allows people from about 50 countries of the world to use her services. In other words, you can not open an account with them if you are not from these 48-50 countries. Then you realize you are stuck.
What is the alternative if this is your situation?
Get a Merchant account or a third party payment processor to take credit and debit cards payments for you. From our earlier equation, 80%-90% of the time, the guys will be in the US. When it is time for the card company to transfer your money to you less their charges, you are going to receive a check which might take 2-4 weeks to get to you, depending on your location. You get the check, assuming you are lucky it did not get lost in transit, and deposit the same with your Bank in your home country. Your bank sends the check for collection in US - another 2-4 weeks. In US, your funds get cleared in 2-3 business days. Then you get your credit. Now your Bank will charge you about $25 - $45 for the check: remember they have to pay DHL / FedEx to transport your check along with other documents, plus they are in business. Get it?
Now for all they care, your check may be for an amount of between $100 and $200, especially if you are just starting out. If you get 10 - 20 checks in a year (yes you can be getting many checks from various affiliate programs) you might find yourself paying $250 - $900 for the year.
Now compare yourself with someone with a US Bank account. He gets paid by what they call ACH (Automated Clearing House) system. This is just an electronic fund transfer system initiated by individual account owners in US to pay others within a network of some banks in US / Canada. This takes just 2-3 days and bang, your money is in your US bank account. It is mostly free to go. In some case you pay a token. I pay $3 to receive ACH into my US Bank account. I live in Africa and I have access to my funds by use of the Card issued to me by the US bank. I can withdraw money daily at the ATM in my country, no problem! My problem is to make the money go into my US bank account:- Also I can use my Card to buy things online, a privilege not enjoyed by many especially in the developing and under-developed countries.
Now you can see that it is a must for you to have a US bank account if you want to make and retain money from the Internet. But getting one is one of your greatest nightmares as a non-resident. A non-resident refers to the non-US citizens, having no residential base in the country. It is generally put in to the use by the country's banking sector.
The banking laws as it concerns a non-resident are very strict. It is almost impossible if you do not know how to go about it. The thing is complex and complicated and most Banks will just avoid doing this for non-residents. For them it is a mine field which only a few have mastered. I spent 4 years researching this after I found myself in the above situation earlier mentioned. In my case I even had money trapped with PayPal, after opening my account in PayPal with a US mailing address (perfectly legal).
I found a way to do it and this is now documented in a Special Report. If you need a US Bank account - I think you should get one and start making money online. This is an amazingly lucrative thing to do if mastered rightly. I have opened my US Bank account and I now sell through PayPal, having satisfied all their requirements. You can now get a US Bank account as a non-resident.
You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach. Follow the above link to get what you need. I feel you have now realized the importance of a US account as a non-resident. So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.
Incorporate in Panama
Tuesday 20 July 2010
Offshore Investment Theories
The long-heralded recovery in the Japanese financial markets appears as far away as ever. Michael Wilson looks at why government reforms have been slow to spark a revival
Will the Tokyo revival ever happen? A year ago you’d probably have dismissed this as one of those stupid questions, like “Will the euro ever strengthen?” or “Will the rain ever stop?” Of course it will, you’d have said. Simple logic tells us that you can’t undervalue a perfectly satisfactory manufacturing economy indefinitely. Sooner or later, the combined effects of a weaker currency and a stronger export position are bound to have the desired effect, and simple arbitrage pressures will force the Japanese stock market back into a proper state of balance with the international investment community. Shares are bound to go up.
Offshore Investment Theories - Signs
It’s a nice theory, but this year the signs are that things are working out differently. Japan’s official growth rate has just been regraded by foreign investment analysts from 1 per cent to as much as 2.2 per cent. Industrial production levels have been rising by as much as 10 per cent year-on-year and its newly-appointed government (somewhat hastily convened and re-elected in July, after the sudden hospitalisation of the serving Prime Minister) has made a passable job of a political transition that most people thought was beyond it. The yen has tumbled back by 7 per cent in the last year, making it easier for Japanese exporters to sell into foreign markets such as China or the US.But the stock markets have been inconsolable: the Nikkei 225, Japan’s most important large-company index, has slumped by nearly a quarter since the late spring, and even the broader-based Topix is 12 per cent down on the year (all figures correct in mid-October).
Offshore Investment Theories - Japanese Private Investors
Even worse, it seems clear at present that Japanese private investors are in no mood for taking any further risks at all. They’re buying bonds, they’re opening bank accounts, they’re doing everything except investing in domestic Japanese equities. And all our recent conversations with fund managers and analysts have confirmed that, apart from a handful of small-company stock-pickers, nobody in the international markets has much of an appetite for Tokyo either.Besides, some people are saying, we haven’t defined what we mean by a revival anyway. Do we mean a stock market revival that will carry company valuations to the kinds of levels that we might expect to see on Wall Street? If so, we’ve already arrived: average Japanese price/earnings ratios are almost twice what they are in the States - 60, and rising. How much higher would it be sensible for us to go?
Or do we mean an economic revival, perhaps? Japan has the world’s third-highest per capita income (after Switzerland and the US) and its industrial performance has improved quite a lot since the redundancy programmes of the past five years. Its current industrial expansion into other parts of South-East Asia (surely the world’s biggest potential developing country market) is both timely and well-judged, for reasons we’ll examine shortly. But foreign investment analysts are still muttering darkly that it will all end in tears.
Offshore Investment Theories & Moodys
Moodys, the world’s most widely-recognised credit rating agency, has recently downgraded Japan’s domestic bond rating by two full grades, leaving Japan on the same risk rating as Portugal. Increasingly, there are fears that Japan may have got itself so heavily mired in debt that its economic growth will never become fast enough to shrug it off.Some of the most worrying trends are social. We know, of course, that Japan’s population profile is ageing faster than any other developed country in the world, because of low birth rates and much longer life spans during the past 40 years. Everyone is agreed that the question of pension provision will soon start to get very urgent and that Japanese companies will need to come up with something pretty special if they’re to pay for all these people with the money produced by a dwindling working-age population.
There are a lot of doubts out there in the marketplace about just how much it’s going to cost, and that’s part of the reason why so many fund managers are wary.
Offshore Investment Theories & Unemployment
The other main social factor is unemployment, something that we’ve already touched on. Now that unemployment levels are pushing 5 per cent, the highest rates in post-war history, people are scurrying down to their post offices and buying special government bonds with which to build up their retirement nest-eggs, rather than hitting the high streets with their credit cards. So the domestic consumer market is in crisis, shops are empty and even long-established chain stores are reporting losses.
Banking Online: Your Money and the Internet
Banking online is one of the newest and more important technological advances for the banking system. Banking online makes basic banking much more accessible. Suddenly, you can perform many basic banking tasks whenever you would please. As long as you have an Internet connection, you will be able to perform all of these tasks. There are some things to know and consider about online banking to understand the connection between your money and the Internet.
Security
There are multiple things to consider with security and online banking. There are various parts of online banking that require special security precautions. Initially, you need to make sure that you are on a secure connection. There will be a small lock at the bottom of the browser. This lock means that the connection is secure, and that your information will be safe. You also need to be secure with your password and account. You need to create a password that is random and hard to predict. You also need to make sure that, when done with online banking, you log out manually. This can help to make sure that you are the only person who can get into your online banking account.
What Can Be Done
There are a lot of different things that can be done with online banking. All of your accounts can be viewed. You can see all transactions, and can see the balances for all of your accounts. You can easily transfer money between all of these accounts. You can pay bills online. You can set up an automatic online bill payment system that will cause you to be billed monthly. This makes sure that you do not miss any payments. You can also easily check up on rewards points for your credit cards through the bank online. All of this can be done wherever there is an Internet connection.
Downtime Issues
There are some downtime issues to consider when thinking about online banking. Just like any other website, the online banking website will have downtown. Some of this will be schedule for maintenance. Sometimes, this will be without notice. While online banking is nice, it may not be smart to fully rely on it for major banking issues.
Security issues are huge when it comes to online banking. Many people fail to realize that online banking can be somewhat of a safety concern, as far as your personal information is concerned. There are a lot of positives to online banking, however. Suddenly, you can do work with your bank, even when the bank is closed. This can save people multiple trips to the bank every year. There are some downtime issues, however. Just like any other website, online banking can feature downtime and technological issues. When this happens, the usefulness of online banking is gone. With all that being said, online banking is the most efficient way to work with your bank. Take advantage of all online banking opportunities.
Get your anonymous credit cards
Security
There are multiple things to consider with security and online banking. There are various parts of online banking that require special security precautions. Initially, you need to make sure that you are on a secure connection. There will be a small lock at the bottom of the browser. This lock means that the connection is secure, and that your information will be safe. You also need to be secure with your password and account. You need to create a password that is random and hard to predict. You also need to make sure that, when done with online banking, you log out manually. This can help to make sure that you are the only person who can get into your online banking account.
What Can Be Done
There are a lot of different things that can be done with online banking. All of your accounts can be viewed. You can see all transactions, and can see the balances for all of your accounts. You can easily transfer money between all of these accounts. You can pay bills online. You can set up an automatic online bill payment system that will cause you to be billed monthly. This makes sure that you do not miss any payments. You can also easily check up on rewards points for your credit cards through the bank online. All of this can be done wherever there is an Internet connection.
Downtime Issues
There are some downtime issues to consider when thinking about online banking. Just like any other website, the online banking website will have downtown. Some of this will be schedule for maintenance. Sometimes, this will be without notice. While online banking is nice, it may not be smart to fully rely on it for major banking issues.
Security issues are huge when it comes to online banking. Many people fail to realize that online banking can be somewhat of a safety concern, as far as your personal information is concerned. There are a lot of positives to online banking, however. Suddenly, you can do work with your bank, even when the bank is closed. This can save people multiple trips to the bank every year. There are some downtime issues, however. Just like any other website, online banking can feature downtime and technological issues. When this happens, the usefulness of online banking is gone. With all that being said, online banking is the most efficient way to work with your bank. Take advantage of all online banking opportunities.
Get your anonymous credit cards
Sunday 18 July 2010
US Bank Account as a Non-Resident - A Must to Make Money Online?
We all have Bank accounts in our respective home countries or residences. No problem with that - it is easy to get. We need this to run our lives, do our day to day activities off-line and so on. It is no big deal or a problem. So it is until I got online to make money two years ago.
When you get online and try to make money, then you realize that the rule of the game will change for you. Suddenly you will realize that you need a US Bank account with a Bank over there in the US. Why? Because 80%-90% of the Internet businesses are controlled by people in US / Canada. That is the way it is for now and in the foreseeable future. And I doubt if the equation is ever going to change at all.
When you want to make money online, in most cases the buyer will be a US native who is either using PayPal or a Credit card to pay for things online. You have got to hook up with PayPal by opening an account with them to receive your payments from other PayPal users. But PayPal only allows people from about 50 countries of the world to use her services. In other words, you can not open an account with them if you are not from these 48-50 countries. Then you realize you are stuck.
What is the alternative if this is your situation?
Get a Merchant account or a third party payment processor to take credit and debit cards payments for you. From our earlier equation, 80%-90% of the time, the guys will be in the US. When it is time for the card company to transfer your money to you less their charges, you are going to receive a check which might take 2-4 weeks to get to you, depending on your location. You get the check, assuming you are lucky it did not get lost in transit, and deposit the same with your Bank in your home country. Your bank sends the check for collection in US - another 2-4 weeks. In US, your funds get cleared in 2-3 business days. Then you get your credit. Now your Bank will charge you about $25 - $45 for the check: remember they have to pay DHL / FedEx to transport your check along with other documents, plus they are in business. Get it?
Now for all they care, your check may be for an amount of between $100 and $200, especially if you are just starting out. If you get 10 - 20 checks in a year (yes you can be getting many checks from various affiliate programs) you might find yourself paying $250 - $900 for the year.
Now compare yourself with someone with a US Bank account. He gets paid by what they call ACH (Automated Clearing House) system. This is just an electronic fund transfer system initiated by individual account owners in US to pay others within a network of some banks in US / Canada. This takes just 2-3 days and bang, your money is in your US bank account. It is mostly free to go. In some case you pay a token. I pay $3 to receive ACH into my US Bank account. I live in Africa and I have access to my funds by use of the Card issued to me by the US bank. I can withdraw money daily at the ATM in my country, no problem! My problem is to make the money go into my US bank account:- Also I can use my Card to buy things online, a privilege not enjoyed by many especially in the developing and under-developed countries.
Now you can see that it is a must for you to have a US bank account if you want to make and retain money from the Internet. But getting one is one of your greatest nightmares as a non-resident. A non-resident refers to the non-US citizens, having no residential base in the country. It is generally put in to the use by the country's banking sector.
The banking laws as it concerns a non-resident are very strict. It is almost impossible if you do not know how to go about it. The thing is complex and complicated and most Banks will just avoid doing this for non-residents. For them it is a mine field which only a few have mastered. I spent 4 years researching this after I found myself in the above situation earlier mentioned. In my case I even had money trapped with PayPal, after opening my account in PayPal with a US mailing address (perfectly legal).
I found a way to do it and this is now documented in a Special Report. If you need a US Bank account - I think you should get one and start making money online. This is an amazingly lucrative thing to do if mastered rightly. I have opened my US Bank account and I now sell through PayPal, having satisfied all their requirements. You can now get a US Bank account as a non-resident.
You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach. Follow the above link to get what you need. I feel you have now realized the importance of a US account as a non-resident. So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.
Get your co-branded debit card
When you get online and try to make money, then you realize that the rule of the game will change for you. Suddenly you will realize that you need a US Bank account with a Bank over there in the US. Why? Because 80%-90% of the Internet businesses are controlled by people in US / Canada. That is the way it is for now and in the foreseeable future. And I doubt if the equation is ever going to change at all.
When you want to make money online, in most cases the buyer will be a US native who is either using PayPal or a Credit card to pay for things online. You have got to hook up with PayPal by opening an account with them to receive your payments from other PayPal users. But PayPal only allows people from about 50 countries of the world to use her services. In other words, you can not open an account with them if you are not from these 48-50 countries. Then you realize you are stuck.
What is the alternative if this is your situation?
Get a Merchant account or a third party payment processor to take credit and debit cards payments for you. From our earlier equation, 80%-90% of the time, the guys will be in the US. When it is time for the card company to transfer your money to you less their charges, you are going to receive a check which might take 2-4 weeks to get to you, depending on your location. You get the check, assuming you are lucky it did not get lost in transit, and deposit the same with your Bank in your home country. Your bank sends the check for collection in US - another 2-4 weeks. In US, your funds get cleared in 2-3 business days. Then you get your credit. Now your Bank will charge you about $25 - $45 for the check: remember they have to pay DHL / FedEx to transport your check along with other documents, plus they are in business. Get it?
Now for all they care, your check may be for an amount of between $100 and $200, especially if you are just starting out. If you get 10 - 20 checks in a year (yes you can be getting many checks from various affiliate programs) you might find yourself paying $250 - $900 for the year.
Now compare yourself with someone with a US Bank account. He gets paid by what they call ACH (Automated Clearing House) system. This is just an electronic fund transfer system initiated by individual account owners in US to pay others within a network of some banks in US / Canada. This takes just 2-3 days and bang, your money is in your US bank account. It is mostly free to go. In some case you pay a token. I pay $3 to receive ACH into my US Bank account. I live in Africa and I have access to my funds by use of the Card issued to me by the US bank. I can withdraw money daily at the ATM in my country, no problem! My problem is to make the money go into my US bank account:- Also I can use my Card to buy things online, a privilege not enjoyed by many especially in the developing and under-developed countries.
Now you can see that it is a must for you to have a US bank account if you want to make and retain money from the Internet. But getting one is one of your greatest nightmares as a non-resident. A non-resident refers to the non-US citizens, having no residential base in the country. It is generally put in to the use by the country's banking sector.
The banking laws as it concerns a non-resident are very strict. It is almost impossible if you do not know how to go about it. The thing is complex and complicated and most Banks will just avoid doing this for non-residents. For them it is a mine field which only a few have mastered. I spent 4 years researching this after I found myself in the above situation earlier mentioned. In my case I even had money trapped with PayPal, after opening my account in PayPal with a US mailing address (perfectly legal).
I found a way to do it and this is now documented in a Special Report. If you need a US Bank account - I think you should get one and start making money online. This is an amazingly lucrative thing to do if mastered rightly. I have opened my US Bank account and I now sell through PayPal, having satisfied all their requirements. You can now get a US Bank account as a non-resident.
You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach. Follow the above link to get what you need. I feel you have now realized the importance of a US account as a non-resident. So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.
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