In a sense, all businesses “export” their products. After all, in today’s globalised world, it is almost as easy to dispatch a product to the South of France, India, or Mexico, as it is to send it a few streets away! Read more “Exporting: If You Haven’t Fixed Your Exchange Rate, You Haven’t Fixed Your Price!”
Recently, 2 Money Transfer giants; Western Union, and MoneyGram, began working with the cryptocurrency Ripple. Ripple is a blockchain based solution that could have been purpose built for the money transfer industry. It is part real-time-gross-settlement (RTGS) operation; a genuine SWIFT payments rival; and part currency exchange mechanism, capable of using its distributed ledger technology to move money across all of the world’s remittance corridors on behalf of businesses, or individuals. Read more “Can Cryptocurrencies Like Bitcoin & Ripple Become The Future of International Money Transfer?”
Instarem, the Singapore headquartered money transfer operator that offers a unique zero-margin FX transfer policy, made waves at last week’s Money 20/20 Asia conference, held in Singapore. Read more “Money Transfer Operator Instarem Makes Move Into European Market”
From time to time, we all catch ourselves daydreaming about our ideal overseas 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 “South America Dominates List of Favourite Retirement Destinations, With Costa Rica Taking Top Spot”
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. 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 “Moving Abroad. Is It Better To Rent Or Buy?”
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 “When It Comes To Overseas Money Transfer Deals, Millennial Men Are The Ultimate Bargain Hunters”
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 “3 Ways To Transfer Money Overseas That Won’t Hurt Your Bank Balance (Plus 3 That Will!)”
In late February, Edmund Ingham, The Money Cloud’s PR and Content Manager, spent 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 “Entrepreneurs & Digital Nomad’s Are More Than Welcome In Perfect Paris’ Coworking Cafés”
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 “UK Sends More Money To Nigeria Than To Any Other Country, Says Data From World Bank”
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 “World First Research Reveals Only One Quarter Of Britain’s SMEs Are Trading Overseas”
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 “Government Credit Controls Are Preventing Chinese Firms From Investing In Tech Startups”
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 “5 Blockchain Apps That Offer Money Transfer Services For Crypto & Fiat Currencies”
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 “Sainsbury’s Bank Partners With MoneyCorp, Reveals Reasons Why Brits Send Money Overseas”
Cryptocurrencies may have got off to a bad start in 2018, with valuations plummeting, but faith in its underlying technology, the blockchain, or distributed ledger technology, has never been stronger. Read more “The Rise & Rise Of Blockchain Based Payments Solution Ripple”
Do banks provide international money transfer services free of charge?
Sadly, it’s not the case; banks are generally recognised as one of the most expensive options when it comes to moving money internationally; second only to using cash, according to the World Bank’s Data. Read more “TransferWise Research Reveals Australians Making Wrong Choices When It Comes To Transferring Money Overseas”
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 “Google Tez Launches Bill Payments Service To Spice Up Mobile Disruption In India”
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 “Why Are US Corporate Giants Moving $3.1 Trillion of Assets Held Overseas Back Onshore?”
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 “How To Compare The Best Money Transfer Services”
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 “Whatsapp Pay Rumours Confirmed By Soft Launch In India?”
Bitcoin may be seen in some quarters as the answer to too much bureaucracy, red tape, and creaking, antiquated, legacy banking systems, but it can’t escape being regulated, according to IMF chief Christine Lagarde, who gave an interview to CNN Money last week. Read more “IMF Chief Christine Lagarde Weighs In On Crypto Regulation Debate”