mshwari best way to save and access loans through your mobile phone

M-shwari and Mshwari: A new way to save and access loans from your mobile phone

Mshwari is a Safaricom product that allows MPESA users to save money and earn interest with the lowest bankable amount being KES1. The product was launched late last year amid protests from faulu Kenya another financial institution in Kenya, who claimed being the inventors. Mshwari also allows existing MPESA users to borrow money and pay back with interest of 7.5% per month.

With Mshwari you can save or withdraw money as often as you prefer without any charges. Withdrawal charges are applicable only when you withdraw money from an MPESA agent or ATM.

To save money to your Mshwari or M-shwari account go to MPESA Choose Mshwari Send TO Bank Enter your MPESA pin and press OK/Call To withdraw money from your Mshwari or M-shwari account , go to MPESA Choose Mshwari Withdraw from Bank Enter your MPESA pin and press OK/call

Information Note that your Mshwari balance earns you interest.

For KES1 to KES10,000 you earn an interest of 2% per annum.

KES10,001 upto KES20,000 you earn an interest of 3% per annum

KES20,001 upto KES50,000 you earn an interest of 4% per annum

KES50,001 upwards you earn an interest of 5% per annum better than any old banking system in Kenya.

With an interest rate of 5% per year, you may double your savings in less than 20 years better than Malipo  ya uzeeni fund.

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save money with Mshwari
Use Mshwari to accumulate wealth
Earn Interest with Mshwari

Automated Clearing House

Automated Clearing House an internet payment solution

 

 

ACH or Automated Clearing House

 

ACH or Automated Clearing House is a network for electronic financial transactions that allows money to be transferred to any U.S. bank account. Incoming Automated Clearing House transfers is called Direct Deposit. ACH withdrawals are free of normal bank charges. In order for anyone to withdraw money from ACH account, a W-9 form must be filed in order to activate ACH or Automated Clearing House withdrawals.

People living outside the U.S., but have a US bank accounts, cannot use Automated Clearing House as a means of withdrawal method. Some banks only permit ACH withdrawals if a client is eligible to file a W-9. Unfortunately, some online work at home agencies does not accept a W-8BEN to file in place of the W-9.

ACH withdrawals usually arrive in a bank account in two to five business days. Processing times may vary significantly from financial institution to another financial institution (bank to bank). It is dependant to your bank how long it will take for your funds to clear; the funds may be available right away or held for processing purposes overnight.

ACH withdrawals are independent of any fees or any other cost, meaning that they are completely free for any who qualify. Neither the online work agency nor your financial institution will charge a fee for this type of withdrawal. Howbeit, ATM fees may apply when withdrawing money from a bank

 

skrill online payment method

Skrill : an online payment system

 

 

Skrill is a rebrand of Moneybookers which is an e-commerce business that allows payment transactions to be made through the internet. individuals using Moneybookers rebranded skrill, the payment system offers an online deposit account and a low-cost, internet-based alternative to traditional money transfer methods such as cheques, money orders and wire transfers. Users with merchant accounts, Skrill or Moneybookers allows accepting online payments made with major payment cards like Visa and Mastercard or Skrill's own online accounts.

Skrill ownership

The Skrill  payment system is owned and operated by Moneybookers Limited which is a company based in the united Kingdom and registered as a money service business.

As of date Skrill allows for sending and receiving payments to and from 200 countries around the world using 41 different currencies,

Skrill regional availability

Skrill supports major credit and debit cards and around almost 100 local payment options that covers the majority of a good number of economies. Some countries in the United states and United Kingdom are included on the Skrill economic sanctions list.

Sometimes since 2008, Unuted States based customers could not receive money from non-US Skrill  account holders, and either way non-United States customers could not upload funds or send payments using United States payment cards or bank accounts. As of February 2013, United States remained among the countries not included on the list of supported countries.

As a Skrill user you can hold an account in any of the major currencies but once you begin transacting you cannot change the accounts currency since use of multiple currencies are not supported.

As an Individual customer, you can open an account with Skrill by registering with your email address and some personal data on Skrill’s website.

Skrill identity verification

To complete your identity verification which is rather optional, you will be required to send or receive higher value payment. Skrill Accounts are identified by email address(es) associated with any given account.

Payments from Skrill’s account are sent to an email account and once an email address has been assigned to Skrill account, it cannot be altered or removed. As a Skrill account holder you can add upto 4 different email addresses per account.

For marchant accounts, Skrill offers a payment gateway, escrow payments as well as web SMS and fax sending services.

 

 

 

payoneer MasterCard

Payoneer can be used to receive payments for online Jobs

  
Receive payments using payoneer account in your local currency without a bank account

 Payoneer

Are you Eligible for payoneer card

Payoneer card usage

The payoneer card

Getting money using your payoneer card

Loading your payoneer card

Using the payoneer card

Payoneer Mastercard
Payoneer VISA card

Payoneer is a company based in New York that offers Internet-based financial services business to its users allowing them to transfer money and receive payments through re-loadable electronic cards known as prepaid MasterCard debit cards. The payoneer company’s main focus is itself on certain payment solutions, basically affiliate, mass payments, Local Electronic Funds Transfer (EFT), merchant accounts, and payout programs in countries with underdeveloped banking infrastructure. payoneer services are much identical to paypal but with much flexibility.

Are you eligible to register for Payoneer withdrawals?

If you are a Contractor working from anywhere in the world you can register for an account with Payoneer Debit MasterCard. Payoneer Debit MasterCard can be used anywhere MasterCard is accepted. These includes stores both online and physical, supermarkets, and ATMs. However, Payoneer will place loading (the amount of money that can be loaded at any given time) and spending (the amount of money you can spend at a given time) limits on your Payoneer Debit MasterCard card.

The Payoneer payment option seems to be the only means available for withdrawal option that any contractor working from home and who do not already have access to a bank account can count on.

contractors working in the United States, Australia, Canada, India, Philippines, SEPA (Euro), United Kingdom and other selected countries can avoid third-party fees and complications always experienced by other contractors from countries not in the list by registering for direct-to-bank, low-cost, local-currency alternatives.

The third party fees and other complications are usually due to currency exchange rate fluctuations and bank charges.

Payoneer Usage

You can use payoneer for many other different purposes once your payoneer account becomes active. As mentioned above payoneer account requires no bank account to be operational.

The payoneer card

Getting money with your payoneer card

Loading your payoneer card

Using the payoneer card