Now that we’ve previously seen some very good ways that you can employ to protect both your privacy, as well as the security of your business online in general, here are some ways that you can make sure that financial transactions that you conduct online are better protected.
- Keep your business and personal finances separate
One of the big advantages of this is that it will make it easier to keep track of how much money you made from your online business activities and how much you have spent. This will of course simplify your accounting and make reporting taxes a lot easier. But it can also help when it comes to security. Open a separate bank account that will be used only for receiving and sending funds related to your online business. If you use an e-wallet such as PayPal, open a separate one under your business name rather than using the same account that you use for personal transactions. Use your business e-wallet to get payments from affiliate networks, clients, etc. You can always transfer funds to your personal bank account as needed.
- Use a different credit card for your business purchases
Again, this will make tracking a lot easier as you can keep your personal purchases separate from your business related expenses. For added security, you can get a reloadable prepaid credit card that you can use to sign up for services or purchase things online. Load it with enough money needed to make the purchases you expect. This will give you some protection should there be a security breach, or if you unknowingly deal with a merchant that has deceptive billing practices, such as luring you into a free trial of their service and then charging you a high monthly rate if you don’t cancel. Furthermore, if fraud does occur, it will make it easier to determine where it potentially could have come from.
- Check your records and statements often
You should check your e-wallet, credit card and bank accounts on a regular basis to make sure that everything is going right. Check to ensure that you received all the payments that you were expecting to get and see if there are any transactions that you don’t recognize. Promptly investigate any transactions that you don’t remember making or that seem suspicious for you. It could have been a merchant using a different name than on their website or a small purchase that you forgot that you made, such as a $3.99 e-book, but it’s worth checking out just in case.
By keeping all of these tips in mind, you will have some good advice on how you can do business on the internet safely while protecting your private and sensitive information. Remember that in addition to these and any other pieces of advice that you can find online, it’s also important to exercise overall common sense when you’re running an online business.