Get More From Your Online E-Wallet

An E-wallet is a safe and secure way for people to shop online. It can also be used to send and receive money transfers from the around the world. But not all E-wallet service providers are created equal, which is why it’s vital to do your research before settling on one.

So how do you get more from your online E-wallet provider? If you’re searching for an E-wallet provider on the web, it’s important to find one that meets your needs and budget. It’s also important to research the benefits available to you before you sign up for an E-wallet account. This is because not all personal account providers offer the same benefits. Here’s a list of benefits you should keep an eye out for when researching E-wallet providers.

Affiliate program: Why not make money with your new E-wallet account? A small number of E-wallet providers, such as Solid Trust Pay, offer their members great affiliate programs. An affiliate program is a great way for members to earn extra money simply by referring the company to their friends and family members. In fact, SolidTrustPay’s affiliate program makes it possible for members to earn commissions for life, plus commissions on the referrals of your affiliates.

Emergency Funding Services: There comes in a time in everyone’s life when they need money fast. Why not have access to emergency funding services through your E-wallet account. SolidTrustPay allows members to receive money when they need it most, in less than 24 hours. And if you’re really in a jam, you can pay a higher fee and get priority services.

Looking for new revenue, banks role out “payday advance” products

Communities of all sizes in the U.S. are flooded with “payday advance loan” boutiques tucked away in strip-malls.  They trap financially strapped consumers in a vicious circle once come in through the door.  A borrower required to provide a signed check in order to borrow against their weekly, bi-weekly or monthly wages.  They collect outrageous fees that amount to 300 – 550 percent annual interest rate.  A typical loan could cost $1 for each $10 borrowed.  A typical two-week $100 loan could charge a fee of $15 that equals to 395 percent annual percentage rate.  It is a lucrative but loosely regulated financial instrument.

Banks are highly regulated financial institutions.  However, curtailed by new financial regulations and dwindling revenue, some banks are venturing into the “payday advance” arena.  Bloomberg Businessweek reports that Wells Fargo ($500 limit with $7.50 charge for each $100 borrowed), U.S. Bancorp (up to $500 for 35 days with charges of $2 for each $20 borrowed), Regions Financial (product is called Ready Advance), and several others have introduced products similar to “payday advance.”  According to the report, the Federal Deposit Insurance Corp. and the Consumer Financial Protection Bureau are going over the new bank offerings.