Category: Finance

What is a Wire Transfer? Wire transfers are a convenient way to transfer money globally, using electronic channels and the networks of financial institutions or transfer agencies. When someone initiates a wire transfer at their bank, they provide important information about the recipient, such as their name, bank account number, and the amount being transferred.…

If you have ever done a wire transfer, you’ve almost certainly been charged an international wire transfer fee. These fees are inconvenient and can be quite costly. The question is, what can you do to reduce or remove your international money transfer costs? How can you get the speed, security, and convenience you expect from…

The Central Know Your Customer (CKYC) is a central repository of important KYC documents for customers wanting to avail of services in the financial sector. It is an initiative by the government of India started with the aim to have a streamlined structure in place to verify documents when a person wants to use a…

Sending money to family, business, or even friends has become pretty easy, thanks to the numerous online services and apps, including those specializing in transferring money abroad. Unfortunately, the associated time and costs involved in sending the money to its intended recipient varies widely. And so, we’ve put together a list of the cheapest and…

Credit Score plays a vital role in determining the creditworthiness of an individual. Before determining whether or not to lend to an individual, the lender evaluates their credit score. A credit score also affects the loan amount and the interest rate payable on the loan by the borrower. In case if an individual has a…

This year has given everyone a crash course on the necessity to be equipped for unprecedented times. The Covid-19 outbreak that resulted in lockdowns, has added to the financial woes of most of us. With 2021 around the corner, you can turn a new leaf. A new year brings conviction and hopes to bring about…

India is one among the fastest developing economies across the world but the financial literacy amongst a common man is still limited and thus to some extent the general public makes investment decisions based on herd mentality resulting in some glaringly obvious financial mistakes. Six of these mistakes are: Not maintaining an emergency fund It…