Personal Finance

Firewall Checking Accounts

If you have an account with PayPal or Neteller, this is a fantastic idea. Set up a no minimum balance checking account (if your financial instutitution allows it) and have that be the checking account hooked to your PayPal account. That way, if your PayPal account gets compromised the thief hits a blank checking account rather than your real checking account.

Of course, you have to remember to transfer money into the account whenever you are doing a legitimate transfer lest you be hit with NSF fees.

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Possibly Related Posts (Auto Generated):

1. Use Tax-Deferred Accounts
2. Oops, they did it again
3. The “Zero Interest” Game
4. More on Identity Theft
5. A look at Roth 401(k)s

© 2006 Kirk Walsh.