Velocity Baking: Do or Do not?

Velocity Banking Do or Do Not featured image

Dearest Lord, when it comes to Velocity Banking, should I do or do not? Can I properly use this strategy – to use debt to pay off my debts faster and even bootstrap my online business by using OPM (other peoples’ money), and have interest working for me and not against me?

Thus says the Lord, your Redeemer, The Holy One of Israel: “I am the Lord your God, Who teaches you to profit, Who leads you by the way you should go. Isaiah 48:17 NKJV

The concept of Velocity Banking 

I heard about being my own bank months ago on YouTube and it never left my mind. 

They called it Velocity Banking where you use a Line of Credit to pay your bills and debts, saving up on interest, paying your debts faster, and freeing up more of your cashflow.

The concept was really new to me and it amazes me that, with discipline, I can apply banking principles like the use of credit to my own finances and have interest work for me, not against me.

So I’m surrendering to You here my plans and writing to You my thoughts so You can help me Lord with Your wisdom to see if this is the right path for me to use to snowball my debt payments and have a revolving cashflow to pay bills and build wealth for the work of the Kingdom.

Redirecting my money

I have 20k sitting on 2 checking accounts, 10k each, that is not earning anything.

Actually, one of those I made as an account for giving to Your work. But I realize now that I can just use bank transfers and don’t actually need a check to give.

The other one is where all my online job income comes in.

So, since I use bank transfers through my debit card anyway to pay my bills and give to You through CBN and The 700 club,  I plan to transfer this 20k to my savings account that does not have a maintaining balance.

This way I can use this 20k to work for me and not just sit in an account that does nothing.

Hopefully, with 20k in this account, I can apply for a credit card that I can use as a debt tool for Velocity Banking.

But first, I plan to deposit this 20k in a time deposit with OCCI, my credit coop, that I can lock for 1 year to earn a bit more interest.

But the good thing is, I can also use this account as collateral to borrow the same amount from the coop.

I can use this as my debt tool as well. Because, if I’m not wrong, the time deposit “back to back loan”, as they call it, is payable in a month or 2 months with very minimal interest 3% per annum! How’s that?

Also, I realized that I can use my gold jewelry that I do not use to pawn for 3% interest, diminishing balance. It’s worth 40k. I can use this also as a debt tool for emergencies.

Sadly, I already have a 40k balance on it cause I used it to pay our accumulated 3 months electricity bill. I’m to start paying next month.

So here’s my plan.

Velocity Banking Do or Do Not featured image

Using debt to pay off debts

Deposit 20k check early in the month to my savings account bank so they can get this amount from my checking account bank.

Once it’s in my savings account, I can use it to apply for a credit card with cashback rewards which will also have a 20k limit. This I can use to pay for bills that can be paid with a credit card and can earn cashback for me.

When I have a credit card, I can withdraw this amount and let it sit in my OCCI time deposit so this can be my revolving credit line collateral and I can use this as my debt tool to snowball my debt payments or pay those bills that can’t be paid with credit card. 

Or here’s another scenario.

I can deposit the 20k check into my savings account bank. Once it’s already there in my account in cash, I can withdraw it and deposit it into my OCCI special savings to start my revolving credit line.

I can borrow from this 20k to pay off my pawnshop debt down to half. So I won’t have to pay too much interest on it and start snowballing this debt payment.

Once it’s paid and my time deposit loan is also paid up, I can borrow again to have it deposited into my PNB account and use it to apply for a credit card.


This could work.

I can be my own bank.

I just have to be attentive and be aware of every cent that comes and goes in each account.

Help me, Lord.

I just want to be a good manager of the money You give me.

To have it properly working for me, earning interest for me while paying off my debts and bills as well as building wealth to give 90% to causes You care about for generations to come.

healthwealthvictory tips
  • Learn more about velocity Banking
  • Be attentive to all your finances
  • Ask for God’s wisdom to manage your finances well according to His will 
praying hands of a child

Dear Lord,

Thank You, Lord, for wisdom and power to receive and act on God-inspired ideas, like Velocity Banking. Please show me if I should do this or not. In Jesus’ name. Amen.


This is it for now. Till next time.

To our health, wealth, and victory – GODSPEED!

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