Time to Get Practical About Online Accounts During Banking Crisis
by
Brett Bumeter
It is rapidly becoming time for people to get a little more practical about protecting their money as the international banking crisis moves beyond mortgage lenders and starts to hit banks of all sizes. Last week IndyMac was seized by the FDIC after depositors withdrew more than $1.3 billion in the 10 days prior to their failure.
Many people that work on the internet work with PayPal as their universal medium of exchange on small to medium sized projects, sales and billing.
I am not knocking PayPal, nor its parent Ebay. In fact, I think that as the economy starts to falter, Ebay stands to gain as people start buying and selling more used stuff to save money and turn some of their junk into cash for gas or food.
That said, Ebay is a US company and now could be a very good time to look at alternatives. One that I like as a solid alternative is MoneyBookers.com. They are located in the United Kingdom and generally offer up cheaper fees than Ebay. I would not recommend them to replace PayPal, but it sure would not hurt to use them more and keep some a portion of your funds or income from web work offshore in the United Kingdom with MoneyBookers.
One thing for sure, this is no time to put or keep all of your eggs in one basket and that includes both your local banks, but also your local country.
0 Responses to “Time to Get Practical About Online Accounts During Banking Crisis”