How to Find Money Transfer Software & Apps You Can Trust

  • Posted by Tom on December 18, 2014 in Financial Tips

Are you curious about money transfer software, but still feeling hesitant due to security concerns? Just not sure which software will do what you need it to do, and do it well? In this post we’ll delve into the world of software designed for transferring money – both domestically and internationally. We’ll look at some free software options, and we’ll also look at how money transfers can be tied into finance software so that you can keep better track of your funds (this is extremely helpful when you’re trying to tighten up the budget and save!). Free Apps for Domestic Transfers If your goal is simply to perform domestic bank-to-bank transfers, the solution is pretty simple if you have a smartphone. Most major banks these days provide downloadable apps which allow you to do most of your banking from the comfort of your phone, including switching money between your own personal accounts and sending transfers to other people’s bank accounts. Be aware that there may be some limitations involved in these – for instance, sending from your account to an account with a different bank will typically mean the transfer takes longer (just like when transferring money to another bank … Continue Reading →

The Easiest Way to Transfer Money Online: A Technophobe-Friendly Guide

  • Posted by Lauren on December 17, 2014 in Financial Tips

Online money transfers are the fastest and easiest way to send money to friends, family or business associates abroad. If you are not technically minded though they can be a minefield, and you’re bound to be concerned about security and fraud. We’ve written this guide to help people who are not so technically literate, learn about the easiest way to send money online and also to demonstrate that it is both safe and secure if you do it right. Six Steps to Easily Send Money Online Step one: Choose a trusted online transfer service This is the hardest part – how do you know who to trust to handle your money and make sure that it gets where it is going safely and quickly? There are a few things you can do to satisfy yourself that the provider you are going to use can be trusted. Step two: Check them out Type the service’s name into Google or your favourite search engine followed by the word ‘review’ (for example ‘OrbitRemit review’). You will likely come up with plenty of information from other sources that rate their experience with the provider in question, and you’ll get a feel for how satisfied … Continue Reading →

How to Receive Money from Abroad (Without Getting Ripped Off)

  • Posted by Paul on December 15, 2014 in Financial Tips

When receiving money from abroad there are a lot of things that you need to take into consideration in order to mitigate your exposure to fees and charges. Many money transfer methods will involve incurring fees at both ends of the transaction. On top of this, recent years have seen very stringent Anti-Money Laundering and Counter Terror Finance laws enacted in many countries, which has driven some remittance services to increase costs. Depending on the volume of funds involved in the transaction, you could easily find yourself inconvenienced, held up (or even under investigation!) if you don’t make sure that you dot your Is and cross your Ts. Tax considerations when receiving money from abroad Many countries have rules in place regarding the taxation of incoming remittances, no matter what their purpose is. An example of this is some states in Europe such as Poland. It is important that you have an understanding of what laws apply in your jurisdiction and that you meet your obligations in this regard, in order to avoid falling afoul of your government down the track. Anti-Money Laundering and Counter Terror Finance legislation when receiving money from abroad Each country has slightly different rules, but … Continue Reading →

Avoiding Money Transfer Scams: Protect Your Money Online

  • Posted by Tom on December 9, 2014 in Financial Tips

There is no shortage of online money transfer scams and plenty of people fall victim to them each and every year. In this post we’re going to take a look at some of the more common financial scams that you are likely to come across and give you some ideas about how to keep your money safe online. Western Union Money Transfer Scams Western Union is used by fraudsters on sites like Craigslist quite regularly. One very common approach looks like this: 1. The scammer will make an enquiry on a classified ad. The item may be big or small. They will advise the buyer that they are overseas at the moment but very much would like to purchase the item advertised and will prepay before they get back. 2. The purchaser will receive a cheque for the item – this will be more than the item was advertised for. 3. The fraudster will then contact the mark advising them that they have made a mistake with the payment and could they please forward the balance of funds via Western Union to them in whatever country they are in. 4. The cheque will prove to be stolen or will later … Continue Reading →

How to move to Australia: Immigration guide

  • Posted by Lauren on November 25, 2014 in Financial Tips

Moving to Australia is an appealing prospect for people from all over the world, with large numbers of Brits, Kiwis and people from other countries making the decision to head to the lucky country every year. With a strong economy, a fantastic climate, loads of opportunity and friendly people, it’s really no wonder that relocation to Australia is something that so many people around the world want to do. Things to Consider Before Moving to Australia Of course, as with anything there is a lot to consider before you relocate. It’s not such a lucky country if you can’t arrange the means to support yourself and, depending on where you’re from (New Zealanders are particularly lucky in this regard) you’ll have to jump through a few hoops with the Australian immigration department in order to obtain the right kind of visa. Moving to Oz from New Zealand For Kiwis it’s really easy. Thanks to the reciprocal arrangements that are in place between the two governments, you can travel and work freely between the countries. New Zealanders only need to apply for a special visa if you have spent a certain amount of time in prison or have convictions for certain … Continue Reading →

The Best Way to Send Money Transfers UK to Poland

  • Posted by Paul on November 25, 2014 in Financial Tips

Sending money back to Poland for Polish migrants and expats in the United Kingdom is a common requirement and, as with all things that involve personal finance, there are a big range of companies out there that will help you do it. Naturally, some ‘help’ themselves (to your money) more than they actually help you. The Rules Around UK to Poland Money Transfers Financial institutions offering bank-to-bank transfers within the European Union, are legally required to charge no more for the transfer than they would for a domestic transfer of the same value. There is a catch though – this only applies in countries that use the Euro as their currency or in countries that are members of the Union but use an alternative currency (such as the United Kingdom, and indeed Poland) in the event that the transfer is conducted entirely in Euros. This is obviously complicated, as anyone earning money in the United Kingdom is most probably getting paid in Sterling and the costs of converting from Pounds to Euros and back at the other end can often outweigh the benefit of the reduced transfer fees. So unless both sender and recipient have Euro based accounts, then this … Continue Reading →

How to Move to the UK: Immigration Guide

  • Posted by Tom on November 23, 2014 in Financial Tips

Moving to the UK is something that many Aussies do at some stage, be it for a couple of years or for the long term. Moving to the United Kingdom from Australia is not a terribly difficult process, but there are a few things that you have to take into account when it comes to immigration and visa formalities. Working Holiday Visas (Tier Five Youth Mobility Visa) These are a popular choice for Aussies under 30. They are available in many countries, including the UK under the reciprocal Working Holiday Visa (WHV) Scheme. Under the WHV nationals of eight countries, including Australia, are able to head to the United Kingdom for 24 months to work and travel. There are some restrictions however. You must be between 18 and 30, you can’t function as a professional coach or trainer, you must have around 2000 pounds in savings to support yourself and you can’t readily transfer the WHV to an alternative visa. Note that while this scheme is referred to in most countries as a Working Holiday Visa, United Kingdom immigration refers to it under their Tier Five (Youth Mobility Visa) programme. Getting a Work Permit (Tier 2 General Visa) For professionals … Continue Reading →

Filipino Migrants to the UK on the Rise: Reasons and Impacts

  • Posted by Paul on November 21, 2014 in Market

Natives of the Republic of the Philippines have long spread their reach far and wide to other countries in search of a better life, more opportunity and political stability. Many Pinoys who leave the Philippines do so because they have a family to support back in their home country and they are hopeful that other countries will provide them with the opportunity to be able to send money to the Philippines in order to support them. Filipino Expats in the UK The United Kingdom has long been a very desirable destination for people from the Philippines and other parts of the world. It is a stable, established democratic country with strong ties to Europe. Establishing themselves in the United Kingdom not only enables them to earn far more money than they would at home, but gives their children the opportunity to have access to the economic and opportunity-rich powerhouse that is the European Union. How Many Filipino Migrants Are There? The Manila Times estimated that there were 200,000 Philippines nationals working in the United Kingdom in 2007, 10,400 of which gained United Kingdom citizenship – this is compared to a figure of less than 1,500 just six years before. This … Continue Reading →

How to Send NZ IRD Payments from the UK

  • Posted by Paul on November 6, 2014 in Financial Tips

Making New Zealand IRD payments from overseas can be a big hassle and a very expensive proposition. When you’re living in the United Kingdom it can be difficult to keep on top of your commitments to the New Zealand tax authorities. For anyone living overseas with a New Zealand student loan, they will also find that their loan starts attracting interest once they’ve been out of NZ for more than half the year. This makes it essential to get that student loan paid off as soon as possible, if you want to avoid what can become a lifelong drag on your finances. Student loan repayments for overseas residents are due twice a year, one on September 30th and one on the 31st of March. While overseas residents are free to make regular payments throughout the year if they wish, these transfers can often come at quite a significant cost so they find it easier and cheaper to pay in two lump sums. As of April 2014 the IRD has released revised minimum payments for expatriate New Zealand student loan holders. At the time of writing these are the annual obligations of student loan holders who are not resident in New … Continue Reading →

Settling In: Tips for New Filipino Migrants to New Zealand

  • Posted by Lauren on November 3, 2014 in Financial Tips

So you’ve relocated from the Philippines to New Zealand? Congratulations and Haere Mai (that’s Maori for ‘Welcome’)! There are a few things that you’re going to find here that work very differently from back in the Philippines, so we’ve put together a few tips on aspects of NZ society like socializing, language, communication with the Philippines, and how to send money back to family to help you get settled in. Don’t Be Scared of the Locals! One thing you’re going to find out very quickly after moving to New Zealand is that Kiwis are a friendly and welcoming bunch who are usually very interested in finding out more about visitors. They are also great travellers themselves and they’re always looking for the next place to visit. Don’t be afraid to ask questions – they’ll be more than happy to help you get used to the way things work. Living in New Zealand is a great experience and the locals will be more than happy to help get you settled. Socializing in New Zealand Kiwis also love to eat and drink, and they love to do it together. Every weekend all over the country you will see barbecues being lit in … Continue Reading →