Velocity banking is a financial strategy that involves using the equity in a paid-off property to pay off other debts, such as credit card debts or car loans, more quickly. The goal of velocity banking is to reduce debt and build wealth faster than traditional methods, such as making minimum payments on debts and saving for retirement separately.

Velocity banking typically involves taking out a line of credit or loan against the equity in a paid-off property, such as a home or investment property. The funds from this loan are then used to pay off other debts, such as credit card debts or car loans. The account holder then makes payments on the line of credit or loan, which are typically lower than the combined minimum payments on the paid-off debts. This can help the account holder pay off their debts more quickly and save money on interest charges.

Whether velocity banking is right for you depends on your financial situation and goals. If you have a lot of high-interest debt and are looking for ways to pay it off more quickly and save money on interest charges, velocity banking may be worth considering. However, it's important to carefully assess your financial situation and consult with a financial advisor or professional before making any major financial decisions.