There are times when money has to be transferred to someone we know in a foreign country or to a foreign bank account either for business or personal purposes. However, the transfer process is not as simple as usually claimed as a single transfer involves quite a few factors such as service fees, exchange rates, the time period for a transaction to go through, etc. While there are different ways in which the transfer of money to a foreign bank account can be done, some of the most common services that provide flexibility according to customer needs are: Online Payment Services : This is one of the most convenient and feasible options for transferring money swiftly across countries from the comfort of one’s home. Having an account on PayPal, Skrill.com, Xoom.com, Google Wallet, Amazon Pay, etc, helps with a simple authentication process to send across money to a user account in the same domain. However, there are charges for amounts above a certain limit, as well as authentication protocols to process bank payments. On the contrary, there are no hidden fees for the transaction or exchange rate beyond the nominal charges. Money Transfer Operators : These operators have ground locations across the globe in most major cities and countries to enabling the smooth transaction of funds within a short span of time, mostly within a day.

Every business requires a standard checking account at a bank in order to carry out its financial transactions including payments and collectibles. While large corporations may pick out multiple accounts and have a dedicated team to carry out the financial transactions, a small business would usually pick a single bank to ease through its financial transaction requirements. When starting a business or when changing to an alternate bank, a business is required to provide extensive documentation to be able to carry out the bank account opening process. Documents that a small business essentially requires to open the bank account include: An ID of the business and the individual who runs the business to ensure that both of them are authentic and not a hoax startup. Getting the business’s registration papers and the individual’s picture ID that was issued by the government can be the best documentation to start a bank account with. Providing a copy of the business license is mandatory when one is opening a bank account in the business’s name be it an individual proprietor or a registered LLC For a business that is run by a group of owners or by members of an advisory board, a copy of the incorporation papers has to be presented for account opening.

If you are confused between CDs and Money Market then there are few factors to consider : Time of Deposit: This is about planning your need for part or full cash requirements. Since there is no liquidity in CDs, one must plan about the length of the deposit. For example, it can be one deposit $25000 over 5 years or 5 deposits $5000 with returns in the 1 st year, 2 nd year etc. This is called Ladder CDs. In the case, money markets the fund is available to you without any fuss as there is flexibility with the fund, unless extreme cases. Interest Rates: The anticipatory rates are the best way to invest in the short term or long term. If the rates are climbing, it is best to invest in short-term CDs, and if the rates are falling then invest in long-term CDs. You are known for your return and the tax bracket, you would fall into with CDs. However, in the money market, the interest rates vary over time since it is locked away like CDs. FDIC Insurance: CDs are insured by FDIC for $250,000 while money markets are not insured. Since money market funds are offered by investment companies, there is a slim chance you could lose your money.

By keeping your money in the savings account of the bank doesn’t mean you are doing the best thing. Different financial institutions have different rates to offer to the customer. One may give you 0.1% interest rate, and for the same amount of money, another will give 1%. Here are some tips for you on how to find the best High-Yield Savings Accounts or firms paying high rates on savings accounts: Avoid going out of the home In today’s world, online banks give more interest rates than the one which is made up of cement and bricks. Due to negligible branches of the online bank, they can provide high-interest rates. Avoid switching banks Traditional banks change their rates temporarily to lure customers. Read the documents thoroughly before opening the account. Keep your money liquid When the market is up, and interest rates begin to climb, keep your money liquid by keeping it in savings account rather than putting it into a certificate of deposit in which the rate is fixed for a specific period of time. Check terms and conditions Not every financial institute have the same terms for interest rates. Some might allow opening an account with a minimum limit of 1 $ and some asks for 10000$ as minimum credit.

A checking account, also known as a transactional account, is one that can be easily opened and allows easy access to money. This type of account is essentially used to make quick bill payments and make the most out of financial transactions. The money from checking accounts can be accessed through the setup of an automatic account, by writing a check, or by using a debit card. Checking accounts are commonly confused to be the same as saving accounts, but they work very differently. Factors to consider when picking the right checking account There are several options to choose from when selecting a checking account. It is essential to consider several features that are important to you when choosing the right one. The minimum balance requirements must be considered, and you must evaluate if you will be able to maintain the same. Being unable to maintain the minimum account balance will mean paying a low balance fee every month. There are also some checking accounts that have a limit on the number of checks and debit transactions that can be made in a month. Also, there may be further restrictions on the number of bill transactions, and this can affect your effective spending ability.

Banks were made for our convenience but capitalism has managed to make this social institution a money making business. You have to pay for each and every service which you may or may not have asked for. This entire scenario is quite paradoxical and difficult to explain to anyone who does not belong to our society. Bank bullying is a serious issue and many customers fall prey to the antics. Have a look at the following tips that will save you from bank bullying and keep your funds secure and safe. Go digital Making your banking habits electronic is the primary step towards preventing yourself from bank bullying. When you rely on humans more than a machine, you are prone to falling prey to bank bullying. Going digital means, you are in charge of every cent of your finance so you cannot be charged with unnecessary fees.   Keep an eye on your account balance Bank bullying is a serious problem. It is one of the main sources of income for banks. It usually happens because you are too careless with your finance. It is advisable that you be on a constant lookout to ensure your account balance is the same as you left it the last time.

Colorado houses a large number of financial institutions, including banks of all sizes and types. If you are looking for a precise number, there are 150 banks to choose from and thousands of products to navigate through. Here is a list of a few banks based on different criteria. Scroll through and decide which one suits your financial needs and requirements. Wells Fargo This financial institution is one of the largest banks operating in Colorado. It has 163 branches in the state and is the best bank for individuals who prefer to have their financial institution nearby. Wells Fargo offers checking and savings accounts that provide reasonable fees and also one of the best interest rates. Chase Bank This is the bank of choice for students because of its affordable banking options for students. The Chase College Checking account has been designed with college students and their limited budgets in mind. This account can be opened with an amount of around $25. Moreover, the bank does not charge a monthly fee to students below the age of 24 years or for up to 5 years after opening an account. BBVA Compass This bank is one of the best banks in Colorado for opening a savings account.

Every time you think of banks, you may imagine a place with human queues and complaints. Being a financial institution, a bank can take care of all your financial requirements and can provide healthy solutions for the same. There might have been issues where you might not be happy with the services that have been provided to you. But there are many ways where you can connect with your bank. Here are 12 reasons to love your bank and be thankful for their existence. They keep your money safe The primary function of the bank is secure your hard earned funds. They protect your money and if something unfortunate happens, they return everything, no questions asked. Work around the clock Not all but most of the banks now have started providing a 24×7 service, which means you can call them anytime you want. They will help you with every query. They provide you convenience at all times With so much competition, banks are trying everyday to give you the best service. For example, they are opening ATMs everywhere for your convenience. Banks monitor your accounts If there is an unusual activity that is seen in your account, you may get a message or an email regarding the same.

Credit unions and banks are both entities made for people to manage their finances and carry out daily transactions, and there are various options for both credit unions and banks available in the market. To understand the main differences between the two, let us start by looking at the basic differences. Credit Unions A credit union is a non-profit co-operative organization owned by its account holders, as opposed to a bank. Banks Banks are government organizations or owned privately and are for-profit organizations. They help run and organize the economy of the country. Both financial institutions are beneficial in their own way. Here are some more differences between the two which will help you make a more informed decision as to which one to choose. Profit and Not-for-profit One of the main differences that separated a credit union and a bank is their nature of profits. A bank basically concentrates on churning out profits through its stakeholders whereas a credit union is a not-for-profit organization. A bank is run by its stakeholders, whereas a co-operative is run by a community of people. Difference in rates and fees Since credit unions are not regulated by the Federal Reserve, they are in a position to offer better savings and rates.

Having your own savings account is practically taken as a first step of confidence in the matter of personal financial goals. One must have an account as it will help him/her during emergencies or whenever they need to invest or buy something huge. One should search for the most valued service or interest rate to get proper benefits of savings account. Savings accounts generally need not have same attributes across all banks. Every bank offers different facility under savings account. There are important considerations you must see before you open the account. Features you should look for in a savings account Interest rates The most vital element of savings account is its interest rate. The issue is, interest rates connected to most savings accounts are low, with numerous banks offering minute interest rates of 0.01 percent. With such an interest rate, you are unable to grow your money within the required time. But as they say, saving accounts are for saving your money and not a place for its growth. Since you want to reap benefits at the end of the day, you must check whether you are getting higher interest rate or not. Monthly maintenance fee The motivation behind a savings account is to keep your money securely away until the point that you require it.

Becoming a student is one of the first steps towards adulting. In student life, financial management becomes crucial. Since you have your entire life ahead of you to manage finances, it makes sense to learn all the intricacies from a very young age. Here are the six best banks that are worth considering when opening an account during your student days. Wells Fargo This bank provides a lot of benefits to students between the age of 17-24. Opening a Students Checking Account with this bank will always prove helpful for all your financial needs. It comes with the main benefit of 50% reduction in the monthly checking fees which means you only need to pay around $5 a month. Also, if you manage to deposit around $500 in your checking account, then you don’t need to pay this fees at all. Regions Bank This financial institution comes with a LifeGreen Checking for Students account where it permits students under the age of 25 to open an account with a minimum of $50 and no maintenance fee. They also offer 0% APR on balance transfers for seven months. In addition, a student does not have to pay an annual fee. But, once you turn 26, this account will turn into a normal Lifegreen Checking Account with all applicable fees.