Learn how to Save Money and Time on International Currency Transfers

Although international travel is, obviously, one of the most enjoyable and exciting adventures available for many us, current logistical hassles can transform what should otherwise be a carefree and thrilling experience into an annoying and cumbersome series of trials and blunders. International currency transfer remains one of the most important and yet annoying and time-intensive elements of traveling abroad. It’s not uncommon for travelers who have little experience with international money transfer to lose a large part of their initial travel fund on transfer fees and poor exchange rates.

It’s often tempting to approach one of the major high street banks when you first begin pursuing international money exchange services. That being said, these institutions often do not offer customers the best possible exchange rates. A variety of independent money exchange services are available for travelers across the United Kingdom that provide competitive exchange and allow you to spend more of your money on your vacation as opposed to exchange fees.

Due to the fact that foreign currency exchange rates often change on a second-to-second basis, it’s highly important that individuals who may be new to international exchange seek expert advice from those who make foreign exchange their primary business. Fortunately, a growing number of independent services do offer consultation services in addition to standard exchange services. Instead of wasting time and money at the major high street banks, we highly recommend that you explore the numerous advantages offered by independent services in business in virtually every major city in the UK.

For those whose interests fall more in line with long-term international adventures, including buying property in a foreign country, independent currency exchange / transfer services can also be particularly helpful. These businesses can help you establish a regular payment plan which ensures that you won’t miss any important milestones in your payment schedule.

As you can see, there are numerous reasons why an independent exchange service may be helpful for those interested in pursuing cost-effective, budget-friendly money transfers. While the fine details of any transfer or exchange-related endeavour will, obviously, have to be settled between the independent exchange service and the individual seeking to transfer money, it is likely that these issues will not present any long-term difficulties which would impede future plans. Ultimately, using an independent exchange service allows you to invest more of your money into your long-term goals and, simultaneously, prepare for a more exciting future! There’s never been a better time to explore international money transfers and exchange rate services. Contact your nearest independent exchange service today, and learn more about the wide variety of services that may currently be available for you, your friends or your family. Good luck!

Bitcoin Software is the future for money exchange

For many investors who have spent the last six months of their life proclaiming loudly that Bitcoin is the way of the future, the current price fluctuations that have led to the lowest price points for the currency since 2013 may be causing cold sweats, nightmares and vigorous bouts of rage/denial. That being said, taking to the time to breathe deeply and think about the history of Bitcoin may provide a more realistic and, hopefully, optimistic feeling of where this currency may be headed.

When Bitcoin first arrived on the internet, early adopters proclaimed that this currency would rattle the foundations of the current marketplace and, to be honest, it did. With values absolutely skyrocketing prior to the Mt. Gox catastrophe, many investors were swept into thinking that Bitcoin truly had revolutionized currency. That assumption, really, isn’t too far off the mark. Regardless of what the future of Bitcoin as a single cryptocurrency may be, the technology powering it and the ideas it has generated will live on long past this particular payment vehicle.

That being said, for those who are committed to gaining the most clear picture of the coin itself, the news is going to feel demoralizing. For a currency as young and volatile as Bitcoin, “first” impressions are everything. Given the absolute plunge of the currency in recent months, there’s virtually no way that an experienced investor looking to tuck away millions in a promising opportunity will give Bitcoin a second thought. The less transactions that occur, the fewer opportunities that Bitcoin has to reach new segments of the population who may find it a valuable tool. The fewer people who find the currency useful, the less credibility it is able to hold on to. And this, of course, is how the currency could die.

The idea of Bitcoin, however, will likely stay alive for decades to come, due in large part to the revolutionary nature of the blockchain, a system of reinforced anonymity and security which, due to its inherent flexibility, will likely become a ubiquitous element of the online arena.

Therefore, Bitcoin enthusiasts really have two choices when it comes to thinking about their favorite currency. They can acknowledge that the coin itself was bound to face a turbulent period of growth and change that may lead to its demise, or they can think of the bigger picture, i.e. the blockchain, and revel in the fact that Bitcoin truly is just the beginning of something much larger and more revolutionary than they could have ever imagined.

Shanghai Stock Exchange Rates are booming

The interest rate on overnight loans on the Shanghai Stock Exchange experienced some of the largest gains in nearly seven weeks as new market subscribers rushed to borrow cash in order to finance new share sales. According to experts, it is estimated that the initial public offerings on the Shanghai Stock Exchange will amount to nearly 2 trillion yuan.

Following this flurry of activity, the seven-day repurchase rate, which is commonly con-sidered to be an accurate gauge of interbank liquidity levels, rose two base points, top-ping out at 3.83 percent. According to Frank Sun, an analyst at Shanghai CFETS-ICAP International Money Brokering Co., the activity related to the IPO’s, while exciting, did little to rattle the more stable foundation of the interbank marketplace. This, of course, implies that interbank liquidity remains quite high.

According to the most recent reports, aggregate financing levels, the most broad level of credit available, reached nearly 1.69 trillion yuan in the month of December, which is almost 500 million higher than the initial estimate offered by a current Bloomberg survey. Analytics reports have also revealed that the volume of new currency loans has also fallen significantly to 697.3 billion yuan, down from 852.7 billion yuan in November of last year.

The price of one-year interest rate swaps, the fixed sum that must be paid in order to receive the current floating seven-day repo rate, was increased by nearly three basis points. Experts believe that the PBOC will most likely remain somewhat sedate on policy enactment as long as financial data does not begin to show signs of worsening. As the volume of loans continues to grow, it is likely that the economy will further stabilize.

Currently, the yield on government bonds which are slated to be due on December 2024 are unchanged. The yield remains fixed at 3.54 percent. This figure is the lowest closing that has been observed since December 1st of last year.

Given the large spate of activity that has currently been undertaken, it is likely that the marketplace will remain somewhat volatile for the coming weeks. It will be very interesting to observe how investors respond and reshape their strategies in the wake of such a substantial IPO for the Shanghai Stock Exchange. As always, it is likely that numerous opportunities will present themselves for those who are following the dynamics of this situation closely.

Is the Bitcoin Boom Over for Mining Software Providers?

When the Bitcoin hype machine tapers down, two potentially dangerous actions occur: 1.) people stop investing in the coin, which, given the absolute need for early-stage adoption, is causing significant hurdles for traders and investors alike, and 2.) Bitcoin miners stop mining Bitcoin due to a substantially decreased profit margin. Given the fact that the successful operation of the Bitcoin platform relies upon the miners to enable the transaction verification platform, commonly referred to as the Blockchain, a lack of miners means more than just a general loss of interest in this notorious alt-coin; it could mean the end of the entire operation.

It’s also important to remember that the process of mining bitcoin becomes inherently more difficult and cost ineffective as more coins are placed into circulation. The massive spike in Bitcoin miners in recent months has served to drive the operating expenses of competitive Bitcoin miners much higher than they ever could have imagined. As more and more hardware is required to mine Bitcoins, even the most experienced miners have begun to wince at the expenses they are incurring, especially as the price of Bitcoin continues to fall.

Ultimately, there are essentially two viewpoints one can adopt when discussing the current Bitcoin trends with an eye towards predicting the future. As there really exists no discernible trend or precedent for a product or idea such as Bitcoin, even on the most advanced bureau de change software available today, it’s anyone’s guess as to what exactly will happen. The coin will either flourish…or it won’t. In order for Bitcoin to remain a trending topic, however, Bitcoin miners are going to need to get excited about mining yet again. This, truly, is the first step towards keeping the Bitcoin operation in the running for status as a revolutionary product.

Is the Bitcoin boom over? It very well could be. Numerous experts have already proclaimed that the coin will be virtually worthless in coming months. As with all things revolutionary, however, a “wait and see” approach may be the best available. One thing is for sure, however: Bitcoin has dramatically redefined how we think of payment, currency, and bureau de change software in the 21st century, and that in itself is a commendable feat.

LeftoverForeign Currency? Here’s What You Can Do With It

After the summer holidays have come to a close, many individuals around the world are left with a handful of wonderful memories and an equally large handful of foreign currency from their travels abroad. Although these exotic currency pieces may prove to be a delightful memento of the previous adventure, many people are left wondering what they can do to reap the value of the money they have brought back with them.

One of the most obvious solutions is simply to take the money back to a currency exchange broker and swap it for domestic currency. That being said, it’s important to evaluate exchange rates closely, just as you did during your time abroad, in order to ensure that you get the best deals possible on the money you are returning. Some experts recommend grouping large sums of foreign currency (if you traveled with friends, for example), and exchanging all of this money at one time, as it is likely that you will all receive a more optimal exchange rate.

It’s also worth noting that some foreign exchange brokers offer a “buy-back” option on leftover currency that will ensure that you receive the equal value (according to current exchange rates, obviously) without losing money in exchange fees. Although these services are much harder to find, it may be worth spending time before your trip researching available buy-back options in your area so that you know exactly who to purchase your currency with initially.

A final option may be to simply hold onto the money you’ve brought back, particularly if you are planning on traveling abroad again soon. Instead of losing fractional amounts of currency with each trade, you can simply keep the money in one currency pair and use it again when you resume your travels at a later point. This is especially recommended for business professionals and other individuals who find themselves “on the go” at regular intervals!

There are, obviously, no perfect solutions for this issue, but with a bit of creative, flexible thinking, you can ensure that you emerge victorious in the battle of the exchange rates. Good luck!

Pound will hold up against Dollar – Unless Scotland votes ‘yes’

Over the course of the past few months, it’s been readily apparent that volatility in the FX markets has become practically non-existent. Although brief swings have been seen due to tensions between Russian and Ukraine, as well as the United States and the Islamic militants in Iraq, prices have remained largely stable. Although some traders are predicting devastating fluctuations due to tensions within the UK regarding the possibility of an independent Scotland, others believe that the Pound will stay on solid ground. That is, of course, unless the UK is broken up by a majority “yes” in the upcoming vote.

The value of the Pound is largely created by the collaboration of the various political entities within the United Kingdom, including England, Scotland and Northern Ireland. If any one of these entities were to leave the UK, it seems likely that, at least over the short-term, the value of the Pound would take a hit. When asked to discuss this particular issue, Kit Juckes, a currency strategist with Societe Generale, said that, “The more divided the UK is, the weaker the pound will be…”Sterling’s correction to date has far more to do with the UK rate rethink than anything else, and there is very little political risk premium in the pricing – yet”

Other possible catalysts of price fluctuation could occur in the early months of 2015, when the Bank of England is planning on raising interest rates, the first move of its kind by any nation in recent years. That being said, it is expected that the Federal Reserve of the United States will follow up with a similar move shortly thereafter. The Federal Reserve has indicated that their strategy remains to implement a very slow, gradual increase of rates in order to ensure that the US economy, which is now developing on a much firmer footing, does not get sidetracked.

Regardless of what potential outcomes may occur, it seems likely that the rather lengthy slumber the FX markets have been in may come to an end shortly, which, for many traders, is welcome news.

How Big Should Bitcoin’s Role be in B2B Payments?

What exactly is the future of Bitcoin, and what role should this digital currency play in the B2B payments market, one of the most vital niches within the larger global infrastructure in existence today? These two questions are often asked by financial analysts and industry experts seeking some sort of invaluable insight into the future of the digital currency, not only for speculative purposes, but also in hopes of gaining some sort of traction when developing sustainable business platforms in what is arguably one of the most dynamic and volatile economic climates in recent history.

For some, Bitcoin’s precipitous rise in both value and public interest is a sign that this product (and the revolutionary system it represents) should be avoided at all costs. After all, Bitcoin has not only undermined the modern banking system as we know it, but it has also posed a credible challenge to the sovereign currencies of nations around the world.

These exact critiques are, for some, the very same reasons why they believe Bitcoin is poised to adopt an even larger role in the B2B payments market in the months and years to come. Due to the fact that Bitcoin is arguably much more secure than standard transactions, Bitcoin could trade back and forth on a B2B level without as high a risk of hacking and theft. Combined with the fact that Bitcoin transactions carry no additional charges, some are proclaiming that this method of payment is undeniably a cornerstone of the future 21st century business infrastructure that has slowly been evolving over the past decade.

Regardless of whether or not Bitcoin does indeed become a fixture in B2B payments, it stands to reason that an increasing number of businesses will begin to demand what Bitcoin provides – a no-hassle, expense-free service by which money can quickly find its way into the hands of those who need it the most, all without the threat of a security breach or online theft.

Is this the future of B2B transactions? It seems there are very few reasons why it shouldn’t be. With Bitcoin, however, success is measured not only in literal effectiveness but also public sentiment, a more elusive standard of measure that has proven itself to be a major catalyst for price increases and drops in recent history. If Bitcoin is, indeed, to become a fixture within B2B practices, it must first be embraced by the influencers and thought leaders who hold power over this particular enterprise.

Simplifying Foreign Money Exchange

Ask any traveler or international business professional what they dread most about venturing to a foreign destination, and it is quite likely that currency exchange will be at the top of their list. Not only does the process of currency exchange require a significant time investment, but it can also be quite expensive for those who are unable to secure competitive buy and sell rates during their transfers.

Like any business where transactions and commission fees go hand in hand, it pays to find a currency trader that you know and trust. Due to the fact that currency exchange rates fluctuate around the clock, it’s important for you to develop a relationship with a currency trader who is committed to finding you the best possible deals, even if those may affect his or her own profit margin on the trade.

If you’re looking to transfer a substantial volume of currency, securing the best possible rates becomes even more essential. Although fractional percentage difference in smaller transactions may be relatively insignificant, this can lead to substantial expenditure differences when the volume of money being transferred increases to higher levels.

A number of services are now becoming available that allow individuals to access the information they need to make responsible decisions regarding not only who they decide assist them with their currency transfers but when the best time to exchange may be. VINIT Solutions is one of several companies that have quickly distinguished themselves for their outstanding customer service and comprehensive transparency. Thanks to no hidden fees and a full-service platform which provides customers with up-to-the-second information on current exchange rates, it’s never been easier to make an informed, rewarding currency exchange that results in decreased financial loss from commissions or exchange rate fluctuations.

As the FX market continues to expand and diversify, it’s only natural that innovators and creative thinkers within the field begin to develop the next generation of tools and software that will help them ensure maximum possible gain for themselves and their clients. VINIT Solutions is definitely one of those companies. Contact them today to learn more about their available services.

Money Remittances to Developing Countries Will Grow ‘5 Percent’ This Year

In today’s volatile world climate, it should come as no surprise that analysts are predicting stronger than ever results from the international remittances market, largely due to the fact that a growing number of international migrants are being forced to leave their homes as a result of violent conflict and other issues. The current numbers are estimating a roughly $435 billion remittances total this year alone, which is nearly a five percent increase over last year’s levels.

One of the many reasons why remittances remain such an important factor in the world of international currency is the fact that this particular form of money transfer allows for expedient transfer of private cash inflows into developing nations. Studies have shown that, in 2013, remittances alone totaled well over three times the sum total of official development assistance.

It is also interesting to note that the relative cost of sending remittances to developing nations has dropped to roughly 7.9% of the total value transferred. That being said, the expenses associated with transferring money to Africa remain inordinately high. Although remittances may continue to expand and grow, the underlying factors contributing to this unprecedented growth are troubling in their own right. Experts now agree that forced migration levels are at their highest since the outbreak of the Second World War. In total, nearly 73 million individuals have been forced to leave their home country due to the outbreak of troubling conflicts.

There remains a silver lining to all of the aforementioned situations, however. A strong regional remittance platform in East Asia and the Pacific is directly helping to promote further economic stability in the area at large. It is also estimated that remittance levels will rebound in Latin America and the Caribbean in upcoming months.

While there is, obviously, no guarantee that the current global situation will remain as it stands today, it is likely that forced migrations and other shifts in global demographics will continue to create a dynamic remittances market that may prove to be advantageous for those whose business interests align with this specific phenomenon. It is likely that 2015 will be as, if not more, exciting to watch than the events of 2014.

World’s First Wearable Money Transfer Watch

As the idea of the “smart watch” quickly begins to take hold of consumers’ imaginations, a number of entrepreneurial-minded companies and individuals have become to find new and innovative ways in which these products can further facilitate daily professional and personal needs.

International money transfer has long been considered one of the most cumbersome elements of traveling or multinational business, due in large part to the lack of a convenient and powerful transfer system outside of real-world, brick and mortar banking institutions. All of that is about to change, however.

Recently, the global money transfer firm World First announced that they would soon be marketing the a new app which they are billing as “the world’s first international payments app for a wearable device”. According to the developers, this new app will allow for seamless and near-instantaneous transfer of funds for both professional and personal use across multiple currencies.

Featuring a number of flashy voice commands and innovative swiping features, the new app developed by World First allows customers to buy and sell international currency, as well as engage in transfers of all sizes, in less than 60 seconds, all from the comfort of their own wrist.

This, of course, will serve as a welcome addition to the arsenal of on-the-go business professionals around the world, many of whom simply do not have the time to stop in and engage in person-to-person transactions with banking institutions. Given the fact that many of these organisations also levy hefty commission fees against customers, the attractive rates offered by World First will likely be very appealing to those who have not yet been acquainted with them.

This all assumes, of course, that wearable technology will truly become the next “hot” item on the marketplace. The public still appears relatively divided on whether or not these products should be popularized. According to a recent UK survey, more than a third of those polled stated that they would be embarrassed to wear this particular type of technology in public. Opinions are likely to change substantially over time, however, and the new wearables being developed by major software companies around the world should withstand the test of time. For customers of World First, this will definitely be welcome news. More information about World First’s revolutionary new app can be found by visiting their official website. The company has stated they are currently in the process of developing a similar app for the Apple watch.

Category: Money Transfer Software