Personal and Business Banks – Choosing One for You

download (15)As you browse various banks to choose the one that fits your needs, take the time to learn about the assistance and services offered because many differences exist. By asking questions, you can learn what financial institutions offer and choose one that matches your lifestyle and investment requirements.

Location and Convenience

The way you manage your money will determine what type of institution you need for your money. If you need an organization with a convenient location to enable you to stop in while you’re running errands or on your way to or from work throughout the week, narrow your search to include only institutions with convenient locations. Don’t forget to consider the hours of the organization, also, to ensure that it will be open when you typically stop in.


Ask about the services offered by any branch you consider using. Compare interest rates for all organizations you consider to enable you to receive the most return for your investment dollars. A full-service institution will likely offer both online banking and a walk-in branch to service customers. Online services should enable you to check your account

How Investment Banks Changed the American Landscape

download (14)19th Century – Civil War

Investment banking has been around since the start of the 19th century. To put that in perspective, Napoleon was still winning wars, and Ohio just became the 17th state. Private banks were offering investment-banking functions during this time and up until the Civil War. In the 1860’s, Jay Cooke started the largest securities selling operation the United States had ever seen. He amassed more than $1.5 billion dollars in war bonds for the U.S. treasury, supplying much needed capital to the Union Army.


The period after the Civil War was tumultuous for the financial market. In older established countries such as Great Britain, capital could be sourced from a vast number of international banks. The United States, on the other hand, was growing rapidly but had no such resources. Investment banks emerged to connect investors with capital and firms who needed that capital during the time of western expansion. Large amounts of capital were needed to fund heavy industry, mining companies, and railroads, such as the Union Pacific and the Central Pacific.

The Great Depression

Skipping ahead to the 1930’s, The Great

Great Banks Bring You Comfort

download (13)You want to keep track of your money, and the best way to do this is by finding a financial institution that offers many options for banking. These types of businesses want their customers to feel secure and appreciated, and the right bank will bring you a sense of comfort. Learn what to look for when choosing a place to safely house your earnings.

Customer Service

When it comes to banks, customer service is key. You want to choose a facility that has short wait times when you are standing in line. Efficient and helpful associates help you place money in the appropriate accounts for maximum benefit.

If you are opening an account for the first time, choose a branch that has lots of friendly people who are willing to work with you to choose the right account for your needs. You want to compare checking, savings, and other accounts side by side with an associate who will have patience while explaining the differences to you.


You don’t just want to throw your funds into any account and walk away. You want options to maximize your benefit.

Opportunities for Microfinance in Sub-Saharan Africa

images (3)A burgeoning market for micro financial institutions (MFI) is set to take hold. The Sub-Saharan African low-income market is set to explode by 25 percent in 2015. Currently 863 million people live in 47 countries. Total gross domestic product (GDP) is $1 billion. It grew to an average of 5.4 percent every year from 2009 until 2015. Today it has the potential for microfinance institutions to generate deposits of $59 billion from those earning less than $10 a day.

The challenge of delivering affordable financial services to low-income markets in Sub-Saharan Africa is an urgent one.

Extended Reach

It’s starts with local financial institutions bridging geographic, cultural gaps and administrative constraints through innovative distribution models.

While the Roland Berger Strategy Consultants study on Delivering Financial Services

in Sub-Saharan Africa, the City Town Vehicle (CTV model) already exists and is a conceptual framework, the existing infrastructure that takes into account distances, population densities and economic potential, there is a third element that can facilitate an even greater outreach.

The model combines different channels to handle a variety of products across geographical areas. It allows banks to keep their operations simple

Retail Banking Trends in the Middle East in 2015

download (12)The Middle East market with the UAE, Kuwait and Saudi Arabia – to name the most important – is a special one.

Customers in this region are used to receive an excellent service. Banks need to take care of this.

One way to try to attract and satisfy customers is the permanent investment into the latest available technology on the banking and finance market.

More important than ever is the marketing point of view towards the market. Retail banks need to get media coverage to get customers attention. To obtain this they try to implement new features and even gadgets to be one step beyond their competitors.

This could be a fancy new application for smartphones or new functions to facilitate the daily bank account maintenance.

Digital banking is for sure one of the hottest topics in 2015, we can clearly observe this trend in the last 6 month of this year. The customers are paying more and more attention to get everything done on their smartphones so mobile banking is very important too.

Besides all the interest in mobile banking the banks in the Middle East are maintaining

Considering Invoice Finance? Our Market Research Findings Summarised

download (11)If you are considering using invoice finance (which includes both factoring and invoice discounting services) you should read this article first as it summarises the last 5 years worth of research that we have conducted regarding the sector. Below I have distilled all the results into the key information that anyone considering using such products, needs to know.

Invoice finance is not used by an enormous number of businesses within the UK, but it is used extensively by fast growing businesses. We have estimated that about 0.86% of all UK businesses currently use these products, compared with the vast majority of businesses that will use some combination of overdraft, loan or family money to fund their venture. There are a number of reasons for this. Approximately 25% of businesses are likely to be eligible (higher if you include retailers for who there are now specialist funding products). Eligibility is generally linked to trade of the business. Those which sell goods or services that are “sell and forget” are most suited, and the sales have to be to other businesses, on credit terms. So if


Economic Development Assistance Programs

download (10)The United States Economic Development Administration (USEDA) has announced new funding opportunities through The Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative. This new economic effort was created to help revitalize communities that have been impacted by negative changes in the energy sector. Through this partnership, the EDA solicits applications in rural and urban areas that support construction, non-construction, technical assistance, and revolving fund projects. Economic development assistance grants and awards may be available to the companies responsible for helping with the ongoing revitalization efforts of our community.

What Are The Qualifications?

You must be a company operating in the region that supports the economic growth and revitalization of our community. Questions about whether your company meets the qualification standards may be inquired through our office.

Do I Have to Pay Interest on Grants?

No. Grants are considered gifts. Economic development assistance grants are awarded to companies and do not have to be paid back as long as the conditions of the award are met. It is important to note that you may have to file progress reports from time to time in order to

Your Guide To Choosing A Bank

download (9)If you are moving to another country to live, work and play, it can be both an exciting and nerve-wracking experience. On one hand, you will be able to open yourself up to various opportunities and experiences, all of which you can use to improve yourself. And on the converse side of the coin, you have to deal with a variety of things which may not be totally familiar to you.

Whether you are moving by yourself or with your spouse and/or whole family, you will have a lot of items to tick off your to-do list, including personal banking. Banks in most countries are at par with international standards, following major reforms enforced since the nineties.

The banking system in the country can be characterised as modern and liberal, with several key players including local and foreign banks.

If you are looking for the best credit card, you will be glad to know that your search will not be a difficult one as there are numerous bank branches strategically located in various towns and cities in the countries. And although providing cash remains as the

Mistakes Investors Make Trading Options

download (8)Mistakes Investors Trading Options Make

Many traders are eager to take the plunge and invest all their money into the market right after reading introductory information such as this. We will go through some of the key mistakes new traders make that can be very costly. Learn from these mistakes and resist the temptation to commit them.

1. Being Emotional – This is really the number one mistake traders make when they start trading options whether they realize or not. Having the discipline to control your emotions in times of stress differentiates a gambler from a great trader. The ability to do so will allow you make impartial decisions that greatly improve the odds of you winning. An excellent way we would recommend is to write a note to remind yourself and paste it somewhere you can easily see. This will serve as a reminder to keep your emotions in check.

2. Buying “out-of-the-money” Call Options – Buying OTM call options is an intuitive way trade options (buying low, selling high). However, understand that in trading intuition can often lead to big losses. Do not

Available Business Funding Sources

download (7)There are many sources who offer business funding today. Knowing the different sources will help you find the best funding options for your business.

Remember, most of these funding sources you can access right through your funding suite with us. So reach out to me to receive more information about the specific funding that will work for you and your business.

In the meantime take a look at some of the many sources of funding that are available today.

Business Charge and Credit Cards are a fast and easy way to access cash for business. You can use the money for any purpose, and you can be approved for business credit with no personal guaranty or credit check. Many merchants will approve you for individual credit cards of $10,000 or higher.

Angel investors have been responsible for funding over 30,000 small businesses each and every year. With over 250,000 active angels in the country you may want to consider an angel investor network to simplify your search. These investors are a great source of funding when banks won’t approve you, and perfect for projects where you need

Account Receivables Financing

download (6)Receivables financing or “invoice factoring” is a great way to get money for your business.

Accounts receivable financing is not a loan; it’s an advance against your client invoices.

You are selling your outstanding invoices to a factoring company who then gives you back up to 95% of the invoice value in the form of a loan against those invoices.

Receivable Financing is mainly used to generate immediate cash flow for the business selling the accounts receivable.

These are a great funding option as they provide an immediate advance of cash to you leveraging your outstanding invoices.

This means as your business grows so does the amount of funding you will qualify for so you can meet increasing demand.

Most major companies including most major Fortune 500 companies utilize some form of Accounts Receivable Financing.

One of the best benefits of receivable financing is giving your business an increase in working capital without needing to borrow money or tie up your business or personal assets.

This boost to your cash flow positively impacts your profitability.

You can receive money quickly, typically within 24 hours from approval. This is much faster than if

Simple Tips to Save Money On Groceries

images (2)A very important aspect of your financial plan should be to save money on groceries, as they tend to be one of the biggest expenditures of any family. All of us were already worried about recession and with inflation also on the rise it becomes very difficult to keep the budget under control. Your debt is already causing sleepless nights and the grocery bills add to the misery. Most families are shocked to see their grocery bills rising. What do you do? Is there a way you can win over inflation? Is there a financial plan to control the ever increasing prices? You are not alone, in this battle and we will help you get a plan in action to create a win-win situation. Here we go!

  • Don’t shop when you are hungry – Hungry and grocery shopping! Never do your groceries shopping when you are hungry as you tend to buy things that you don’t need. You will indulge in a lot of impulsive shopping.
  • Plan your meals – You should have a definite plan; you should know what you need and what you

Practical Ways to Save Money

download (5)Your budget is very tight and you will have to come up with practical ways to save money so that you do not get into a debt trap. How does one save money when you have to tackle recession, inflation, rising prices, unemployment and debts? Is there a solution? Can you get out of the mess? Can you really save in such tough conditions? Well, the answer is a resounding YES. All you need is a plan of action and you are on the path of success. You will be surprised to see simple changes to your lifestyle make a big difference to your finances. Well, here is the plan;

  • Eat at home instead of eating out. If you buy lunch every day, start taking it from home.
  • Make your own coffee instead of buying Starbucks daily.
  • Buy the groceries in bulk as this will help you save money. Do not indulge in impulsive shopping. Carry a list while shopping for groceries. Shop once a week and never when you are hungry.
  • Save electricity by switching off lights, fans and TV.
  • Restrict your credit card use.
  • Rent a movie

Finance At Your Fingertips

download (4)Online payment platforms bring finance from anywhere in the world, to your door steps, to the tips of your fingers at a single click. Our world started trading way back in time and it involved travelling for years on boats with a lot of commodities destroyed and lost along the way. This has become the only way to be able to earn money from people across waters. With technological advances, the world of trading and financial acquisition has improved and easier ways for transactions have been created and established. The rise of technology has, however, gone way far ahead than that of finances that is why the innovations in the financial market had only started recently with the greater demand for convenience.

Although the changes have started with the use of online network servers as bridges that cater monetary transfers, the fees involved are so high that a lot are still unable to participate and others still go back to the old ways of money transfers which still incurs a lot of lapses and loss. With the advancement of technology, people are now able

Why Your Community Bank Is Better Than a National Bank

images (1)In this day and age of national and international financial institutions proliferating throughout even the smallest of towns, it can sometimes be hard to find a local community bank. If you are lucky enough to have one nearby, you should definitely use it for all of your financial needs. You might think a larger branch can offer more services and better deals, but that is a fallacy. Here are some of the reasons why your local branch trumps the big ones.


The keyword to focus on for a community bank is “community.” Everyone who works in the building, from the night janitor to the security guard, and the rookie teller to the owner and president, is from your community. They know who you are even if you lose your wallet and desperately need to take money out, even without a photo ID or debit card. They know that even though you are occasionally a few days late on the mortgage, you always pay it. The large multi-state and multinational institutions will hire some local tellers, but there is a good chance management will not

The World’s Most Impenetrable Banks

download (3)Despite whatever Hollywood has led you to believe, breaking into banks is incredibly difficult. Some vaults are so secure that it is impossible for a heist to take place. Read on to learn about some of the world’s most impenetrable banks, as well as those belonging to some private companies, to see what extreme measures are taken to ensure that the deposits and valuables of clients are kept completely safe.

Fort Knox

The United States Bullion Depository boasts a solid granite wall perimeter and squadrons of machine gun wielding guards and armed military. If by some chance a thief got past those safeguards, they will then have to contend with the 22-ton vault door guarding the loot. To go even further, the door is equipped with a lock so intricate that it takes a 10-person team to unlock it. This may be why no robbery attempt on Fort Knox has ever been reported.

The Bank of England Gold Vault

This vault houses over 4,600 tons of gold, and it is second in size only to the Federal Reserve in New York. The walls are bombproof, so sturdy

What Is a Personal Pension Plan?

download (2)Regardless of an individual’s age, appropriate retirement planning or contributions to pension plan is quintessential to ensure a secure living after retirement. As a nation, Ireland people live for a longer period and hence the need for a realistic retirement plan cannot be understated. Apart from this, in 2014, the State Transition Pension was abolished and thereby increased the age for pension to 66. Also, the age for state pension is likely increase to 67 in the year 2021 and by 2028 it would be 68 years. Now, with all these facts in place, there isn’t a better time to begin or review one’s pension.

Personal Pension Plan – Defined

Personal pension plan refers to the individually organised pensions by the employed or self – employed people of Ireland that do not have any pension scheme. In the recent years, the rules governing personal pension plans have changed significantly. Personal pension schemes are not under the purview of the Pensions Authority anymore instead they are subject to tax law and financial services legislation (even for general law on insurance). Tax exemption can be availed for

FASB Updates Recognition of Breakage for Prepaid Stored-Value Cards

imagesOne of the five issues considered at the March 19, 2015 meeting of the Emerging Issues Task Force, (“The Task Force”) was the issue of whether liabilities arising from the sale of prepaid stored value cards under three party arrangements should be categorized as financial or non-financial liabilities.

Consumers may purchase prepaid stored value cards (gift cards) under a two party arrangement, directly from vendors who stand ready to provide goods and services to the consumer upon redemption of the card. Alternatively, consumers may purchase gift cards under a three party arrangement from an intermediary such as a financial institution or a prepaid network provider.

Generally, gift cards do not expire, are not and redeemable for cash and may or may not be subject escheatment laws. Often times, gift cards go unredeemed in entirety or in part. These unredeemed balances are commonly referred to as “breakage.”

When gift cards as sold under a two party arrangement, the vendor recognizes deferred revenue (a non-financial liability) at that time of sale, with revenue being recognized when gift cards are redeemed. In addition, the vendor may also recognize revenue

Send Money Online

download (1)In the past, sending money online involved a lot of paper work and a lot of time. Often, when we are caught between businesses and there is an emergency case where we need to send money to other people, it would prove to be a painstaking task.

With the recent improvements that financial institutions are initiating to be able to make their services better and provide customers with a variety of options, an online wallet solves this problem. Having your own capacity to send money whenever and however as long as you are able to connect to the internet and the servers of your chosen financial institution gives you the power to transact in your own terms. Additionally, this will give you more freedom and time to make transactions especially when an immediacy in the need arises.

Different financial institutes – like banks and other cryptocurrency applications – provide their members with the capacity to make verified transactions as long as there accounts hold the necessary balances to complete it. The said applications differ from each other depending on the services provided by a user’s

Digital Currency What It Is, and What It Is Not

downloadThis generation can be considered to be part of the digital age. Sooner or later, everything will be easier through the help of technology. Digital processes will soon replace traditional ways, including money making.

Another booming trend in the industry is digital currency. It is oftentimes associated with information which it is not really related with. Now, what really is digital currency? What are the advantages and disadvantages of this new trend?

Digital currency also known as digital money is an internet based medium of exchange that can be used to purchase goods, pay bills and services, and other monetary transactions. It allows the instantaneous transaction and borderless transfer-of-ownership with no fees to fewer fees. Like traditional or fiat currencies, it can also be used to facilitate payment for physical goods and in-person services.

This trend is also often mistaken as virtual currency. Both can be used for purchases and for paying bills and services, the only difference is that virtual currency can only be used with a specific environment. Digital currency has no boundaries as the user can transfer funds without location limits, but with zero