Finance

The exchange of money from one currency to another occurs every minute of every day among banks, institutions and individuals. Therefore, making a wire transfer should be straightforward - you select the service provider, request the transfer, and provide the required information. While wire transfers have become more efficient with the advancement of technology, they still have an unsettling element of hidden costs and surprises. The answer to this mystery cost lies in a concept few have heard of - middle-market rates, better known as mid-market rates. The process of transferring money involves the sale of one currency to buy another at a defined exchange rate: the value of one currency against the other. Exchange rates fluctuate rapidly, and it's important to understand this rate because...

ECS or Electronic Clearing Service allows for funds to be transferred from one bank account to another. Institutions often take advantage of ECS as it allows for various payments to be made with ease. These payments range from the distribution of interest and the payment of salaries to the allocation of pension and more. You can also use ECS to pay a number of bills including those pertaining to but not limited to your -telephone usage water consumption electricity equated monthly installments (or EMIs) SIP investmentsECS allows you to conduct credit and debit transactions with ease.Understanding the ECS Mandate Form Should you want to activate ECS transactions, you need to inform your bank of the same with the aid of an ECS mandate form that gives authorization ...

In this article let’s first understand what is a Demat and 3 in 1 account. Let’s begin with a Demat account. Remember the times when we had to rely on a bunch of papers while investing in the stock market? Every time, while buying or selling shares, new documents/papers kept on adding up. This created a lot of hassle and we had put more effort into organizing and securing the documents. To overcome this issue, the concept of a Demat account was introduced in India by the National Securities Depository Limited (NSDL) in 1996. Demat account stands for a Dematerialized account. NSDL is a depository institution that holds our security assets or helps us in trading them through a Depository Participant (DP). DPs are brokerage firms or banks that get a license from the NSDL to work as DP. DP i...

Electronic payments and online invoice are a necessity in the growing digital era. With businesses moving towards digital, having ways to simplify the invoicing and payments is mandatory. Many software service providers offer online invoicing and payment services. Electronic billing and stock management software will have all the features for electronic invoicing and payments. The benefits of moving to electronic invoicing and payments from manual processes are plenty. The traditional practice causes many issues for business owners with a high volume of transactions. Using pdf and print invoices is less efficient, harder to account for, and a difficult process. There are chances for errors and it may reduce the trust connecting the brand and customer. Read below to know more why electroni...

Forex rates or the foreign-exchange rate is one of the cardinal instruments deploying a country's relative portion of the overall economic stability. It provides or opens a gate to strengthen a region's financial stability. That's why the rate is continuously being monitored and analyzed. Anyone who has the idea of receiving and sending currencies overseas, needs to know the exchange prices of that currency.Factors That Affect a Currency's Value This article will examine some of the leading aspects and instruments that impact the fluctuations and variations in the exchange price. It will also explain some reasons behind the volatile nature of the market.1. Inflation Any type of change in market inflation affects the demand of the currencies.  Even a tiny, meager amount of change in the...

Do you have more gold than you need? If so, it's not going to do any good for anyone by just sitting around in your attic. But it will do a lot of good once you find a buyer.The truth is, it's easier than you might think to get cash for gold. There are several trustworthy ways to trade your trove of golden treasures for sweet, spendable cash.We've listed 5 such methods on this list. Actually, there are 4 good methods and 1 to avoid. In any case, learn all you need to know about how to sell gold by reading this guide.Online Gold BuyersSelling to online gold buying companies is generally the best way to get cash for your gold. Without question, it's the easiest and most convenient way. You just go to the website of your choice, follow the instructions, mail your gold, and ...

Not all business owners love to work with numbers. In fact, some find accounting for small businesses a monumental task, especially as they wear a lot of hats. They may be left unattended for and this can result in business issues down the road. But, this can be prevented by becoming more aware of possible accounting challenges. Here are the most common challenges small business owners can solve while crunching the numbers for their business.Keeping the Business Organized Managing a small business can be stressful. You will have to track down clients, manage employees, and do other core tasks. That is why you can quickly lose track of time. But, no matter how busy you are, you need to keep your business organized. Losing business accounting practices can result in mistakes and even po...