We all love to indulge in a bit of daydreaming about our ideal retirement destination. Of course, many of us take things a step further and end up living that dream. There’s no doubt that the advantages a warmer climate, better healthcare, or a place where your money goes a little further demand serious consideration, and with the world getting “smaller” everyday, it’s never been easier to turn a dream of the perfect retirement lifestyle into a reality. Read more
If you are reading this post then it is probably safe to assume that you have decided to move overseas, or are at least considering it.
Of course, this is a big decision in anybody’s life and it is rarely taken lightly. And the worst part is that making the decision to move abroad is just the first step in a process that may take years before you feel properly “at home” somewhere again! Read more
When it comes to hunting the best overseas money transfer deals, it seems that millennial men, amongst all the demographics, are desperate to stay ahead of the game.
Data from The Money Cloud reveals that a surprising 63% of all site visitors are male; accounting for nearly two thirds of all traffic; and that just over 40% of all visitors are aged between 25-34; meaning millennial men really do aspire to be society’s hunter-gatherers when it comes to scouting money transfer deals. Read more
From overseas weddings, to purchasing property abroad, to sending money to contacts or family members living in a different country, international money transfer is a reality that most of us will face at some point in our lives, and for many of us, it’s a regular occurrence.
So it’s a good idea to get to grips with the basics of sending money overseas. In today’s tech savvy world it is easier than ever to arrange an overseas money transfer, but finding the best deals can be a little trickier. Read more
Edmund Ingham, The Money Cloud’s PR and Content Manager, spends a week in Paris exploring the city from the Digital Nomad’s perspective
Ooh la la! Let’s start with a cliché, because the cliché I had hoped to explore, that Paris is at its most remarkable in springtime, will have to be postponed until after the twin furies of the Beast from the East and Storm Emma have stopped battering the towns and cities of Europe.
Yes, Paris last week was just as cold as London, if not quite as dramatic in terms of snowfall or stranded commuters. Paris, it turns out, holds up remarkably well whatever the weather. Read more
The World bank studies the global remittance industry closely and its data is often revealing, especially because it is not always easy to track the real amounts of money sent overseas from one country to another – there are many different ways it can be done, and many different reasons for doing so.
Finder.com recently used World bank data to reveal that Nigeria is the most popular destination for outward remittances from the UK. The country accounts for almost 15% of all money sent abroad from the UK, followed by India (14.1%), France (6.7%), Pakistan (6.7%), and Germany (4.9%). Read more
With Brexit looming, it would make sense for Britain’s small business community to be revisiting contingency plans for trading abroad, but it seems that instead, firms are losing their appetite for overseas trade altogether, research from Money Transfer firm World First has revealed. Read more
The Chinese government is determined to prevent its entrepreneurs from moving large sums of money out of the country, to try to encourage them to reinvest their profits back into the domestic economy.
The strategy, however, is proving tough to enforce, and doesn’t always succeed in promoting Chinese interests abroad, it seems. Read more
Many people consider the blockchain, and the crypto economy, to be the future of the financial industry. The ability to log transactions in a decentralised manner, i.e. without the requirement for a third party regulator, with transactions verified by a network of “miners”, has unleashed a new wave of financial services products built on the blockchain. Read more
Last year, Sainsbury’s bank moved into the money transfer space, announcing a partnership with MoneyCorp that will allow their customers to transfer up to £100,000 overseas, either online or over the telephone.
In the process of setting up the partnership, Sainsbury’s uncovered some interesting facts about why Brits might want to make international payments. Read more
Cryptocurrencies may have got off to a bad start in 2018, with valuations plummeting (although a promising late February revival has restored confidence levels, despite a slight overnight correction put down to profit taking), but faith in its underlying software, the blockchain, has never been stronger. Read more
To say the mobile payments and money transfer industry in India is crowded is the understatement of the year. Paytm, Facebook, Tencent, through the Hike app, and a thousand other disruptive services are jostling for position in a mobile friendly market, with Whatsapp set to join the battle after soft launching their new payments service earlier this month. Read more
President Trump’s tax reforms have paved the way for some of America’s biggest companies to start moving the enormous piles of cash they have been storing overseas back into the country.
Firms like Cisco, which announced last week that it plans to repatriate around $67 billion in foreign profits during 2018, and Apple, which intends to bring back hundreds of billions of dollars, are taking advantage of Trump’s tax reforms, which have slashed the cost of paying tax on accumulated foreign income to just 15.5% for cash, payable over 8 years. Read more
The way that we send money abroad has changed almost beyond recognition recently, with the emergence of money transfer apps, instant transfer platforms, and even wearable technologies, that can arrange transfers in a matter of a few swipes.
Although this tech disruption has made the money transfer industry a much better market for consumers, it can still be confusing to navigate through all the noise, and find the best deals. Read more
Mobile to mobile money transfer is currently the biggest trend in payments. Facebook Messenger Pay has been available for more than 2 years in the US, and finally crossed the Atlantic, launching in the UK and France, in late November last year. Now it’s the turn of Facebook-owned Whatsapp. Read more
Silicon Valley’s Hash Cash & Singapore’s United Overseas Bank Join Forces For Blockchain Based Remittance Service
Singapore and Silicon Valley are arguably the fintech industry’s two geographical titans. Both are renowned for the ability of their supremely well educated and entrepreneurial populations to become early adopters of new technologies and commercial trends, and successfully turn them into globally dominant enterprises.
In Silicon Valley’s case it tends to be technologically advanced and trendsetting media and social media companies that rule the roost, whilst in Singapore, financial acumen, international trade, notably shipping, and now, financial technology are the industries that have helped to make one in every twenty of the City state’s citizens a millionaire, if reports are to be believed. Read more
When it comes to mobile wallets, and indeed most things instant payments related, Africa tends to be ahead of the game.
During the 80’s and 90’s, much of the continent missed out on the desktop PC revolution, and in the 90’s, internet penetration across the region was negligible. Since then, however, the pendulum has swung very much in Africa’s favour, and especially so in the last decade. Read more
The Role Of Import, Export & Exchange Rates On BoE’s Interest Rate Decision, & What It Means For The Rest Of 2018
Bank of England Governor Mark Carney announced today that the BoE’s Monetary Policy Committee have voted unanimously to hold interest rates at 0.5%, before warning; don’t be surprised if we raise them twice before the year is out.
Carney and the BoE are battling rising inflation, which has fallen 0.1%, to 3% from November to December. It’s not enough, they say, and have now set a target of bringing the level down below 2% within 2 years, as opposed to the 3 year timeframe that had previously been indicated. Read more