How to Receive money online safely

Advancement in Internet technology have made online payments easier and more secure.
Online service have become an avenue for banks now. Many banks are integrating online payment into their service offerings. However, despite this development one need to be careful to avoid fraud or scam online in the process transaction. The best services, including Paypal, Clover and select banks, act as a trusted intermediary. Most services require both parties to have an account, though PayPal and Clover over point-of-sale options.

Below steps to send and receive money online safely

1. PayPal: The largest online money transfer service is PayPal. PayPal is not a bank, a fact that frees it to more fluidly transfer money from one PayPal account to the next. To receive PayPal payments, both you and the submitter must have accounts. The submitter then sends the funds to the email address you set up. You can choose to attach a bank account, and transfer money you’ve received via PayPal to that bank account within three to five days. The payer only knows your email address, protecting both of your sensitive information, and PayPal guarantees the funds.
2. Clover: Clover originally served as a cost-effective, point-of-sale system for merchants. Its mobile application, however, makes it easy to receive money from virtually anyone. Though similar to PayPal, Clover payment transfers are directly linked to your Clover smartphone app or POS system. People can give you money using any major credit or debit card, without having a Clover account of their own.
3. Wire Transfer: Nearly every bank enables you to conduct a wire transfer. Traditionally, you were required to conduct these transfers in person at your bank. Most banks today, however, enable your payer to initiate a wire transfer online. This is the most secure and instantaneous way to deliver money online between disparate banks. Receiving a wire transfer, however, requires you to give your payer a cumbersome amount of banking information, including your account number and bank routing number. International transfers require even.

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Credit: Jacob Andrew