Online Payment Systems

Making money online will involve registering in an online payment system so you will be able to receive and send payments. With this system, Online Job firms will be able to send you payments and you can also send payments to others. Your money from the online payment system can be withdrawn to your bank account.

There are a lot of programs that you can choose from; however, online payment systems like Paypal and Money Bookers have been used extensively. A lot of people register with Paypal but if you can’t avail it in your country, you can go for MoneyBookers and other reputable programs.

Receive and Send Money on the Web

Online payment systems are very simple to use. You will only have to sign up and provide your bank account and credit card number so you will be able to send and withdraw your funds. Always keep in mind to use just reputable online systems like those that are mentioned earlier so that you will not be giving your financial information to potential scammers.

Money transfer in this payment system is made through your email address. The email address will serve as your account, which you will give to the person you are expecting to receive money from. The sender will send you money using your email address and this will be confirmed by an email sent to that address you provided. This holds true when you wish to send money as you will also enter the email address of the person you wish to send money to.

Signup Process

To sign up with these online payment systems, you will have to provide your social security number to track your earning, credit card number to charge your card if you use it to make an online payment and your bank account to allow you to withdraw your online system funds to your bank account. After this, receiving and sending money becomes possible.

Leading Payment Systems

Paypal, eGold and Money Bookers are the largest and most popular online payment systems available. These systems charge you a particular percentage of your transactions. For example, Paypal charges $.30 and 1.9-2.9 percent on every payment you get based on the amount of money you earn every month and the type of account you signed up for.

This charging system works with the other online payment systems as well. If you plan to register with a payment system on the web, Paypal is the most advisable if you can avail of it in your place. Compared to the other programs, this system is commonly used that has earned positive feedbacks from its users. As a matter of fact, eBay uses Paypal extensively for its payment tracking. However, if you do not have access to Paypal, you can use Money Bookers but it is not commonly used like eGold also.

Withdrawing Funds

Funds that are available in your online bank account can be withdrawn whenever you want to. There are payment systems that will provide you a debit card so it is always possible to withdraw money at any ATM machines. Other payment systems will provide you the option to request for a check that is addressed to your residence.  You can deposit the check in any bank in your locality so you can convert it to your currency. Only a few payment systems will allow you to use wire transfer to give you the option to withdraw money to a local bank account.

Secure Your Account

Any accounts that require login information can be protected by keeping such information like passwords and user names secretly. It can help you to have a secure email address that you will use in every transaction and take extra care with the people you are going to send and receive emails from. Make sure to join in legitimate programs so you can be sure that your information will not be stolen.

Top Online Payment Systems

  1. PayPal – This is a proven secured online payment system that charges low fees. However, it is available in just 56 countries worldwide. It facilitates the transfer of money to the banks in the U.S. For members of this system who live in other countries and with balance that is more than $150, they can request a check to be sent to their local address.
  2. MoneyBookers – This is a recommended international money transfer service. With this, you will just transfer your MB money to your bank account. Usually, the money will reach your bank after 3 to 4 days.
  3. e-gold – This is an international payment system that has no charge back and with low fees.  You can utilize Omni Pay if you wish to withdraw your e-Gold money. With omnipay you will receive checks from e-Gold through postal mail in just 3 to 5 days. However, you should expect some charges on this process.

To view all the available online payment systems, you may want to refer Wikipedia.