Money Transfer

Nowadays, everyone is eager to earn money from the comfort of the home. There are many ways and means to earn money easily if you are well-versed in one of the technologies. The writing, video marketing and digital marketing has been proved to be a boon for the people. The people have been receiving handsome amount money with far-less effort and time from the comfort of their home and computer. For many 9 to 5 jobs have been completely obsolete.

If you know some of the technology like website development, design and development then earning some bucks at home can be extremely easy. Writing has a plethora of opportunities in the overseas market. You can search on the Google as to the new technology by which the freelancer gets money. Some of the new comers in the field of freelancing face some problem in the beginning to receive money and even they don’t know as to how to save money from inward remittance.

We will guide you as to how to save money if someonesend money to India from Australia or from any other countries of the world.

Understanding the exchange rate

If you are a new comer, you may not know as to the exchange rate. Before receiving money you should check the exchange rate on the internet. There are various portals that offers free checking of currency exchange rate. The portal xe.com is highly popular for the checking exchange rate of any countries in the world. If you know the exchange rate, then there is a possibility that no one can cheat you while getting money.

Finding the difference

You should not believe always on the xe.com as it offers only mid-market rate. Sometimes the bank may offer you the best rate than xe.com

Getting money by PayPal

Though PayPal is one of the best ways to remit money and receive money from across the world, it is expensive once it reaches your account. You will be surprised that even you lost almost 7% of the money after receiving money in your account.

Getting money by Western Union

The western union is one of the traditional companies in the world that helps getting money from the international market. Your client maytransfer money to Sri Lanka or my remit it to Singapore Western Union does it very well. If you have demanded 100 USD, then you don’t need to pay extra charges. Your client is likely to bear all.

Receiving money by Wire transfer

Wire transfer is synonymous to bank transfer. It is a kind of electronic money transfer that remits money from one country to another country between 24 hours to 72 hours.

There are many other ways to receive money from the international market as a freelancer. However, you need to check which country is giving you more money. You may get more money for clients in the USA than Singapore since US dollar is more valuable than Singapore. Basically, you can get more money if you work for the clients in Europe, North America and Australia as well. Getting clients from USA, UK, Canada and Australia is easier than other countries.

Trading in the forex market often becomes a very complicated business. Although it offers a good opportunity to earn additional income, it also has some risks entailed. There may be instances if your trading strategy is not well planned out, this will result to you experiencing great losses instead of earning profits. That is why it is best to know important details about forex trading and to plan good strategies and a trading system.You can start out by getting familiar with the market and how it works and truly learn forex trading from the inside out. Being able to understand how trading works within the forex market would allow you to formulate plans and strategies that can be used to your advantage. This can enhance the chances of success in trading. You can do this by utilizing online forex simulations. These simulations provide you with a virtual forex market environment, where you will be able to practice trading and work out certain forex trading strategies. Because this is only a simulation of the real thing, you do not have to deal with real money.In trading within the forex market, it is important to note that you are trading with pairs of currencies. As you purchase one, you are also selling one. You should remember to trade in pairs. You should know the value of both currencies that you are trading with. Being right about both currencies that you are trading with, will determine the success that you can have from trading.Do not allow your emotions to take part in making decisions for your trade orders. Allowing your emotions to play a part in making trade decisions can cloud your logical judgment, which can ruin your chance of success. Traders who become emotional while trading often end up losing profits rather than gaining them. When emotions take part, a trader can become greedy or fearful depending on the circumstances. Both however, are not healthy for trading.

In the money transfer business, Transfer means sending the money from one account to another, it can be national or International. While remittance of money is a term used nowadays to describe the money that is transferred by a person working abroad to his family or dear once at his/her home nation.

Money Transfer

Money transfer business refers to sending money from one account to another account. Despite of the fact that there are various methods of money transfer; Migrants and labours from within the country generally uses DMT (Domestic Money Transfer) to transfer the money domestically to their families as they do not have access to the formal banking system for proof of the residency or identity. This is a cash to bank transfer facility available for walk in customers (Not holding a bank account or are not convenient to use the online money transfer methods). This money transfer business surely enables them to send money to their loved ones.

How does a money transfer services franchise work?

Here the person gives cash to the money transfer agency and then the money transfer distributor transfers the money into the account of the recipient. These agents can be any shopkeeper who have direct contact with labourers and offer the service in exchange of commission provide to them by the companies whose money transfer services franchise the shopkeeper has paid for.

How to avail DMT Facility?

Visit any Domestic money transfer agency (Retailer, shopkeeper, tea stall etc. who are money transfer distributor) hand over your cash and the bank details of person, you wish to transfer your money to. The agent will immediately transfer the money to recipient’s account, and earn a handsome commission in the process.

Remittance of money

Most remittance of money is made by workers in foreign countries to their families living in home-country. Remittance have comparatively a large role in the developing nation as compared to developed nation. Worker’s remittance of money is a significant part of international capital flow, especially with regard to labour exporting countries. India is one of the labour exporting countries that ranks on top as receiver of remittances, claiming more than 12% of the world’s remittance.

Working of Remittance.

Let’s assume that one wants to send money from Canada to India. Here the person needs to pre-fund his bank account with significant money that he needs to send.

Once money reaches India. The person needs to contact to contact their local branch or the treasury department to obtain the Euro to India currency as per the conversion rate.

Money Transfer

Remittance of money

Differences

Transfer of money to any account (Domestic or International).

Transfer of money from abroad to home-country.

DMT is one of the most popular mode of transferring.

Wire transfer is a popular mode of transferring.

DMT is a cash to bank transfer.

Wire transfer is a bank to bank transfer.

DMT is generally used by the migrant labours or labours who do not have access to bank account or are not comfortable using banking facilities.

This is generally done by labour working in abroad to send money to family in their home-country.

Submitted by: Trader J Howell

There may be a deal coming through in a week between the Republican president and the United States President Obama. This is helping the markets to be in the positive territory. John Canally, investment strategist and economist at LPL Financial said, “Everybody is paying close attention to the soap opera in Washington.

Yesterday was a good day. But we’ll probably have a lot of bad days before we’re through.” He feels that there may be rough days coming forward as there is this Fiscal cliff worry and tensions President Obama and the Republican President.

Technical Analysis:

The index remained flat today with a positive bias; Dow Jones rising by around 0.3 percent. This whole week has seen choppy moves by the index and that s quite disturbing. Anyways, the index is above the important psychological mark of 13000 and there is something to cheer for the investors.

The Dow Jones closed at 13074 yesterday and it is slowly inching towards the important resistance level of 13500. Once, that level breaks, it becomes easier for the Dow Jones to break that mark of or all time high of 14000. Unemployment data, too, fell sharply indicating that the economy is in a bad position.

But, that has partly to do with the hurricane Sandy, which came in last month. Because of that, most people were not able to apply for unemployment benefits. Applications for unemployment in the United States dropped to 25000 this week.

Important stocks to watch out for:

Netflix is in the news today after the SEC issued notices to the video board of the company and its CEO, Hastings. This note is regarding the company violating Regulation Fair Disclosure. Meanwhile, Hastings said, “We remain optimistic this can be cleared up quickly through the SEC’s review process.”

Honda said that it has crossed the one million mark in production of its cars yesterday. The North American plants of Honda will be able to make around 1.63 million vehicles per year and the Honda says that it will raise that figure to around 1.92 million per year by the year 2014. Because of the strong Yen, Honda s selling in Japan is not as much as it does in America.

Sirius satellite radio is also in the news today after the company announced a special dividend which is 5 cents a share and a stock repurchase scheme of $2 billion. Most of the money will go in to Liberty media, which has been the company s largest shareholder. The company was trading flat at $2.80 last time, we checked.

Forecast:

The index is slowly inching up towards the important resistance levels of 13500 and then, 14000. Meanwhile, on the down side, there is quite a strong support at that 12500 mark and that will act as a cushion for the markets going forward.

We need to watch out for the comments by the President in the next week about him clearing the deal about the Fiscal cliff. The markets traded in a narrow range this week due to that worry.

About the Author: Grab you free Interview with a trader who turned $5000 into 3 million in just 5 years –

tradingandinvesting4u.com/

Watch in live as I show you a AWESOME tip on how to read the stock market –

youtube.com/watch?v=_gSjHkxlhXQ

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1798062&ca=Finances