The Hidden Costs of Sending Money Internationally

There are certain fees associated with money transfers that you should know before sending your money overseas. These fees can be broken down into three different components: The cost of sending money, the cost of exchanging money, and the cost of receiving money.

1. The Cost of Sending Money

The cost of sending money is dependent on the method in which you decide to send your money. Using a reloadable debit card is the most affordable option for sending small amounts. This system involves using an online service to send a debit card to any location in the world. Once the recipient gets the card they can go to any ATM machine to withdraw the funds. The price for this action is 5 USD for every 1000 USD sent.

Sending funds internationally from one bank to another is another method to make a money transfer. The price of using this service is dependent on the bank which you choose to make the transfer with. Bank of America charges a flat rate of 45 USD per international transfer, while CitiBank charges 30 USD for every international transfer (this rate applies for any amount of money up to 50,000 USD). Wells Fargo charges different rates depending on the country you choose to send your money to. For example, a 1000 USD wire transfer to China costs the sender 12 USD, transferring the same amount to El Salvador costs 8 USD.

2. Exchange Rates

The exchange rate, or rate that one currency will be traded for another, is very important to consider when transferring funds. These rates are continuously changing and can thus affect the amount of money which is received outside of the United States. For example, when sending money to China, one needs to consider how many Yuan (CNY) you can trade for each USD. If the exchange rate of USD/CNY is 1/6, then sending 1000 USD to someone will be like sending 6000 CNY. However, if the exchange rate changes to 1USD/7CNY, then the same 1000 USD you send will afford your recipient 7000 CNY.

3. Cost to Recipient for Accessing Sent Funds

Once the money arrives in a foreign country there are some fees that the recipient will have to pay. As noted in the "cost of sending money", these fees will vary depending on the method in which you send your money. When using a reloadable debit card the recipient will have to pay an ATM fee every time they withdraw funds. These fees range from 3-6 USD per withdrawal.

Receiving funds from a bank transfer requires exchanging the money to the local currency. Banks and exchange shops will charge a commission fee for this action which is based on supply and demand. This means that you will receive less than the rate that is being quoted in the global foreign exchange market. Alternatively, if you choose to send money by check, the recipient of the funds will have to pay an international deposit fee. This fee varies from bank to bank, and can range from 25 to 50 USD.

Knowing the cost of sending your money, the current exchange rate, and the cost of receiving money will give you a more accurate picture of what happens to the funds you send overseas.

Oded Porat is a writer who strives to inform people of the safest, easiest and most affordable ways to conduct business online. To learn more about how you can make a money transfer visit the ATMCASH website.

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New Money System Required! Hyperinflation Coming!

New Money System

Do you believe the world is on the verge of a global financial crisis? If you do, what is your plan to protect your family and your assets from evaporating? If you do not have one you had better get one and soon! In this article, I am going to share my personal financial protection plan.

I am by nature an optimistic person. Nevertheless, I believe with my entire being that the United States and the rest of the world is in big trouble. Here is why I believe that so strongly.

With the US National Debt at $14.4 trillion dollars (that's 14,500,000,000,000!). That number grows at the rate of $500,000 every 10 seconds! The debt owed by each citizen in the country is $46,210!

Irresponsible and out-of-control spending by the Federal Government and State Government is driving the country to bankruptcy! I am not taking sides with either political party! Both sides are guilty!

Economic stimulus packages that didn't work, corporate bailouts for greedy corporations, real unemployment of 20%, skyrocketing cost of gas, energy and food, involvement if multiple wars or conflicts all over the world, the Federal Reserve's perpetual printing of paper money as the solution to our country's fiscal problems are leading head first into an economic crisis called HYPERINFLATION!

US Fiat Currency

The term fiat money is used to mean "any money declared by a government to be legal tender."*state-issued money which is neither legally convertible to any other thing, nor fixed in value in terms of any objective standard

At one time, the US dollar was backed by gold. Paper dollars were merely receipts that could be redeemed for a fixed amount of gold. This gold was stored under super security in Fort Knox, KY.

In 1971, President Nixon signed a bill taking the United States off the gold standard. Since then our dollars have become fiat money that is, merely paper with nothing of value backing it!

Throughout history, there have been numerous civilizations that adopted a fiat system. Without exception, every one of those fiat money systems has failed!

The United States dollar has had a nice run as a fiat currency but that run is about to come to an end! The value of the dollar will continue to plummet. Our cash will be trash!

What Is Hyperinflation?

A hyperinflation definition would be "the economy condition that occurs when the price of goods and services increases at a VERY, VERY high rate causing a collapse in the monetary exchange system."

Is Hyperinflation Coming?

There is an ever-increasing school of financial thought that believes hyperinflation is not only a possibility but it is inevitable.

If the US economy reaches the state of hyperinflation our fiat currency, that is our paper money will be worthless or as Robert Kiyasoki puts it, "cash will be trash!" The value of the US dollar is tanking and we are headed for a full-blown currency crisis!

We are already in the initial stages of hyperinflation. Look at what is happening to the price of gas, of oil, of energy, of food, and commodities like coffee and sugar. This is a direct result of the actions of our fiscal irresponsibility!

When that happens people will revert to using precious metals, gold and silver for transactions. In effect, gold and silver will be our new money system!

Why Is The Price Of Gold And Silver Skyrocketing?

By now, everyone knows what has been happening with the price of gold and silver in the market! They are reaching historical highs!

This is happening for two reasons. First, because the price of gold and silver has an inverse relationship with the value of the dollar, when the dollar falls the price of precious metals goes up!

Secondly, smart investors who anticipate the coming of hyperinflation are buying up as much gold and silver as they can get! Demand is high; supply is limited so the price goes up!

In addition, many experts forecast that the price ceiling has a long way to go!

Problem With Gold As An Exchange Currency

If you took a gold bar to the grocery store to buy stuff the store would be hard pressed to give you change! So as a matter of practicality using ounces of gold, gold coins, and gold bars poses a big problem. The problem with using gold as a practical exchange currency is that you cannot get a lot of it in small denominations. Until now that is.

The New World Currency

Today in Europe, they have adopted a new money system. They use what is called a gold currency card. These cards are the size of a regular credit card. Each card contains a gold ingot, which has been hermetically sealed in the middle. The ingots in these cards are typically.5 gram, 1 gram, 1.5 gram, and 2-gram denominations.

These cards are certified by the Swiss Government as being 99.99% kine-bar quality, the highest purity of gold.

These cards make it possible as well as practical for gold to be used as a new global currency exchange system! Unlike fiat money, physical gold will always have value.

Gold has been a universally accepted form of value for thousands of years and continues today!

So imagine this. Soon you will be able to take a gold currency card to a store like Home Depot. When you check out at Home Depot and go to pay for your purchases you hand one of your gold currency cards to the cashier. The cashier swipes the card through a machine that determines what the daily market value is of your 1 gram ingot of gold.

Gold Backed Savings Accounts

People in Europe are trading their paper money for these gold cards. Instead of putting their cash into a savings account where their Euros are losing value, they are building gold savings accounts.

The important point to understand here is that the purpose of buying gold currency cards is not for speculative investment purposes. The point is not to play the buy low and sell high game. Yes, right now gold (and silver) are on a very bullish run. People have been predicting the gold and silver bubble to burst for over a year now. However, the run continues to break records. However, the point of owning your own physical gold is to build a store of value for the coming currency crisis so when our cash becomes trash you will have something with value to exchange for goods and services!

My Personal Financial Protection Plan

I am starting to exchange my cash assets for gold and silver. My immediate gold is to have 25% of my portfolio in gold and silver. Silver has been on a great run, even better than gold, and experts predict the prices of these precious metal to continue to increase for the near future!

I am opening a Gold Backed Savings Account with a company in Germany that makes gold currency cards. I will store most of my gold cards in a Swiss Bank account, the safest and most secure place on the planet. I will keep enough gold cards on hand here at home in a secure place for purchasing goods and services when cash is not practical anymore.

If you want to know more about this new global world currency please visit my blog and click on the New Money System.....!

You owe it to your family to educate yourself RIGHT NOW about the benefits of owning physical gold and silver.

A good place to start is by reading "The Guide To Purchasing Gold and Silver" by Michael Maloney.

Please feel free to contact me anytime. Your feedback is welcome. Please leave a comment.

Thanks for your time and consideration.

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Save More Money With Planning

You have probably heard the saying "if you don't plan, then you plan to fail". The same can be said when you are trying to save money. You will save more money if you have a plan that you can follow. Planning is the first administrative role because it provides a basis for other functions. This function determines in advance what the objectives to be accomplished and should be done to achieve them, so is a theoretical model to act in the future. Planning begins with setting objectives and detail the plans necessary to achieve the best possible way. Planning determines where targeted, to be done, how, when and in what order should be made.

Planning is an ongoing and continuous is not limited to any plan of action, but is done continuously in the company. Planning is always facing the future tied to the forecast. The plan seeks to rationality in decision-making: to establish schemes for the future, planning functions as a means of guiding decision-making process, which gives more rational and reduces the uncertainty inherent in any decision-making. The plan seeks to select a course of action among several alternatives: planning a course of action is chosen from among several alternative potential paths.

Planning is systematic: the planning must take into account the system and subsystems that comprise it, must encompass the organization as a whole. Planning is repeating includes steps or phases that follow. It is a process that is part of a larger one: the administrative process. Planning is a technique for resource allocation: seeks to definition, sizing and allocation of human and nonhuman resources of the company, as has been previously studied and determined. Technical planning is a cycle: planning becomes reality as it runs. As you run, the planning allows for evaluation and measurement conditions for new planning information and perspectives more secure and correct.

Planning is an administrative function that interacts with others, is closely linked to other functions - organization, management and control - on which it influences and is influenced at all times and at all levels of the organization. Planning is a technical coordination and integration: enables the coordination and integration of various activities to achieve its objectives. Planning is a technique for change and innovation is one of the best ways to deliberate changes and innovations in a company, identified and selected in advance and properly planned for the future.

There are many advantages to planning should encourage all managers at all levels of an organization.

Activities required with order and purpose. Focuses all activities toward desired outcomes and achieves effective sequencing efforts. Planning helps the manager to visualize the future possibilities and assess the possible key areas for possible participation. Answer the questions "and what happens if..." These questions allow that makes planning, through a complexity of variables see and intuit the possible contingency plans.

The act of putting thoughts on paper and formulate a plan which provides guidance plans and drive to perform and achieve goals. Requires the display of the goals you set. The general understanding is valuable as it enables the manager to see important relationships; you get a fuller understanding of each activity and appreciated the foundation that supports administrative activities. Increases and balances the utilization of facilities. It makes better use of what is available. Help the manager to obtain status. Proper planning helps the manager to provide a confident and aggressive management.

You can use all these strategies get out of debt but they will all mean nothing unless you can get access to a Directory Resource for someone you trust to get help when you need it or get a FREE debt consolidation quote now at: http://www.debtconsolidationquote.biz/

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Personal Finance Course for Personal Money Management

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What Is a Money Market Account?

When it comes to growing your savings, you may think of putting your money away in a savings account or certificate of deposit. However, many people find that keeping their money tied up for long periods of time or earning lower interest defeats the purpose of saving and having access to funds when needed. Money accounts were set up in the 1980s as an alternative. What is a money market account? You can think of a money account as a hybrid of some of the most popular banking products available to consumers today.. Money accounts can help you reach your savings goals in several ways:

The More You Save, The More You Earn

So just what is a money market? A money account allows banking customers with little to no investment knowledge to confidently invest funds in short term financial products, without needing the experience required of stock market investors. Money accounts are managed to keep shares at an even $1 each, rather than contributing to the rollercoaster of stock market highs and lows. Oftentimes, consumers elect to save their money in a money account versus a savings account because they have the flexibility of writing a set number of checks per month while earning a competitive interest rate. Like savings accounts, the more you save, the more you earn. Plus, your interest is compounded daily and the resulting amount added to your account each month, enabling you to reach your savings goals even sooner than you may have expected.

Other Benefits of Money Market Accounts

The best money accounts can also be tied to your other banking accounts, such as checking and savings accounts, to prevent overdraft fees. Additionally, accounts are typically lower risk investments than other types of financial products such as mutual funds or the stock market. Of course, your return on investment may not be as high, but if you are a conservative saver, a market account may be an ideal short-term low risk savings vehicle.

So the next time you're wondering, just what is a money market account, you can think of it as a stable, low risk alternative to savings accounts that gives you the convenience of writing checks while earning a competitive interest rate on your savings. With all of these advantages, it's no wonder that money accounts are one of the most popular financial products available from banks today. Remember that interest rates can change on a daily basis, so if you find an attractive rate on a market account, it's best to take advantage of the higher rates when you find them, as they may not be there tomorrow.

Jess Hall writes out of Jersey City about different investment opportunities and addresses common financial questions like 'What is a money market account?'. Always looking for a trusted financial institution for advice and tips she tends to look up information at http://www.aurorabankfsb.com/ more often than not.

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Where Will You Position Your Money?

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Knock Knock Receiptable Organizer, Money

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