 Online
Cash Advances
As one of the hottest topics up for debate in the financial world,
the subject of online cash advances has certainly gotten a lot of buzz
in the media. Are online cash advances
safe? Are they secure? Do you get the same benefits as a regular cash
advance? This article describes the pros (and cons) of online cash advances,
and how to determine if this option is the right one for you.
Facts About Safety and Security
A common misconception about online cash advances is the impending
threat of hackers or corrupt parties that scheme online to get your
financial data. Though these types of people do exist out on the internet,
the same people have just as much of an opportunity to do so in the
real world. The truth is that transactions conducted online are just
as safe (many experts will argue that they're safer) than in-person
transactions, based on recent laws and agency practices that act as
guarantees to consumers that choose to utilize the services of shops,
financial providers, and so on in an online environment.
As America's economy becomes more and more about the ability to request,
process, and deliver information in the most quick and efficient method
possible, the need for internet security (and the subsequent need for
backup plans should that security fail) is both apparent and vital if
online companies are to survive. The federal government makes use of
a few bodies that sanction this activity - specifically the Federal
Deposit Insurance Corporation (responsible for the security of your
bank account), the Federal Reserve
(which enacted Regulation
E, a provision that guarantees against fraud when transferring monies
electronically/online), and finally, the Federal
Trade Commission (allows consumers to investigate, report, and file
claims against unethical companies and business practices.)
Cash advance companies are no exception, so as a consumer you are charged
with evaluating a company before you commit yourself to their business.
Things to Look For
Most fraudulent companies post websites that are unprofessional and
poorly constructed, so the first red flag should come to you if a website
"just doesn't look right." Trust your gut on this one, many
consumers are much more savvy than they realize. Remember that a company
with any sense will try to "wow" you with a website's presence,
which costs money, which is something that e-criminals simply aren't
interested in; in other words, if it looks (and sounds) like a cash
advance company is up to something then they probably are.
One way to tell the legitimacy of a website is to find out how long
they've been around. Try visiting Alexa,
which is an online search engine geared toward website performance.
Select the traffic rankings search and type in the name of the website
you're investigating and then get the traffic details. The results displayed
will show you the traffic ranking (a lower number means the site is
more popular, stick to sites with numbers below 500,000) as well as
the date that the site went online. Cash advance companies are notorious
for going online and then shutting down immediately, so if your cash
advance provider has been online in excess of a year or two, that's
a good sign that the are running a clean business.
In Summary
Cash advances are absolutely safe
to conduct online, provided you use your common sense and a variety
of other tools to evaluate your provider. Many websites, banks, and
even the federal government and its institutions have setup a number
of rules and guarantees that are meant to make online transactions safer
and simpler. Just use your judgment and don't be afraid to ask a lot
of questions to anyone that claims to offer any type of cash advance
product; this attitude will prove to the cash advance provider that
you're serious about your business, and will save you a lot of heartache
and trouble in the long run.
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