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Offshore Online Banking Bvi

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Offshore online banking BVI emphasizes that last December 2001, the enactment about financial service commission act 2001 completely establish in British Virgin Islands Financial Service Commission considering the regulatory autonomous authorities that responsible for supervision, inspection, and regulation on entire financing services within the island’s jurisdiction area.

Services include offshore online banking BVI, business trustee, insurance, mutual funding for business, company management, company registration, intellectual property, and limited partnership. As of now, the commission of overseas to entire regulatory responsibilities will be handling Financial Services Department governance.

The BVI banking system and Fiduciary Division guarantee that an entire bank account and corporate services will operate within the island’s jurisdiction. Also, it allows of complying the needed requirements with emphasizes on mere establishment of international standard regulation.

This type of finance and banking system consider as one best business transaction that operates the island that significantly goes along the British Virgin Islands laws or regulation.
British Virgin Island will improvise the modern financing infrastructure particularly offshore online banking BVI that handle with complete and due diligence intended for business requirements in nowadays banking system.

This finance and banking system processes also applicable on trust companies that started of conforming on Banks and Trust Companies Act 1990 with the emphasizes of continuing amendment Act 1995. The commission will offer a tasks function upon acquiring newer responsibilities that includes promotion of public understanding related to financing system. This system primary deals both products and perimeter policy upon regulating activities, reducing the finance related crimes, and avoiding marketing system abuse.

The legal requirements offers a good venue upon acquiring bank licenses in British Virgin Islands as to completely govern the Banks and Trust Companies Act 1990 particularly dealing offshore online banking transactions. In Section 3 of Banks and Trust Companies Act 1990, it emphasizes that no person, individuals, or company will be incorporated in British Virgin Island jurisdiction area unless that certain individual or company already acquire a license provided by Banks and Trust Companies Act 1990.

Furthermore in section 4(4) of Banks and Trust Companies Act 1990 clearly convey that if certain commissions already acquire satisfaction related to their application carried by the banking business operation must not anymore go against any public interest. But, still the applicant should be an individual that qualifies of carrying the business banking account transaction.

Somehow, it may grant other applications and even re-issue an applicant subject licenses along the terms and condition that suites on everyone needs. Indeed, the offshore online banking in this island offers wider opportunity for business to flourish all throughout and even earn higher profit that ensure asset protection. Also, it guarantees owners or clients to have an identity closure for safety purposes.

Crooks, Conmen, And Offshore Banking

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Is offshore banking just for crooks and conmen? Well, let me put your mind at rest and say, no.

An offshore bank account is simply a bank account in another country. Some people have them because they were born there. Some have them because they do business abroad. Some have them because they want to have money kept safe from nuisance law suits. Some have them because their own government is unstable. Some have them because their own currency is unreliable. Some have them because they want to hide money from the wife!

There are other advantages too. First, no tax is deducted from interest earned on deposits. Secondly, there will, or should be, be no active onshore bank accounts to aggravate your case for non-resident classification the Inland Revenue or IRS. And, third, private offshore banking is strictly confidential.

You might also want private offshore banking to:

– Expand your business; – Simplify business administration; – Asset protection; – Global and/or tax-free investing; – Trade worldwide.

Simplicity of operation may be even more important than lower taxes. If you are planning to set up a company other than a bank or other finance-related company, then you will find certain jurisdictions to be more suitable for business operation. Different countries obviously have different laws, and there may be huge differences between them.

Any country that is not your home country may be considered offshore and many of these provide as much or more safety to you and your banking offshore needs.

Some banks will open a so-called numbered account. A numbered account is maintained under a number (or a false name) only; the actual account holder’s name is protected by the bank. Such accounts may be held by both individuals and corporations. The bank itself must know who you are, under ‘due diligence’ and ‘know your client’ rules.

Also, another benefit of going offshore is you may save money in taxes. Offshore banks are located in tax havens. Not having to pay taxes can save businesses significant amounts of money and is the main reason, other than privacy, that individuals choose offshore bank accounts.

However, you don’t have to be ultra-rich. All you have to be is an entrepreneur interested in doing business abroad or via the world wide web.

Because credit cards provide easy access to offshore funds and accounts in tax haven countries, this situation allows income to be hidden. Although is not illegal to have an offshore credit card, the average person does not need one. Some individuals use offshore credit cards to evade paying taxes.

This is a foolish reason to get an offshore account. If you are resident in and doing business within a country, you are subject to its tax laws. If you are also a native, your ‘wiggle room’ with regard to local taxes is likely non-existent. Take advice from a specialist accountant before trying to hide the revenue from your dry-cleaning business!

If, however, you are doing business abroad, and your money stays abroad, and/or you’re are not domiciled in the country you’re operating from, it becomes progressively easier to own and operate an offshore bank account legitimately. You just need to get up-to-date on local tax law.

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Finacle Mobile Banking Solution

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With mobile devices becoming integral to people’s lives, banks are seeking to leverage the ubiquity of mobile phones to create a cost-effective distribution channel, rapidly innovate, extend reach across segments and improve convenience and security of use. However, due to consumer concerns regarding security, the adoption of this channel for value-based transactions has been limited. While some consumers prefer browser-based mobile banking, others use applications that can be downloaded to create a rich interface on the handset. Additionally, the diversity of hand held devices presents a unique challenge for banks seeking to optimize services delivery across the gamut of devices and customer segments.

A truly secure mobile banking solution built on open standards, for increased agility and flexibility, can prove invaluable for banks. The solution must also intuitively address the hurdles posed by multiple form factors and access mechanisms in the mobile space.

Finacle mobile banking solution empowers retail and corporate banking customers with access to banking services through SMS, GPRS/ 3G and USSD-enabled handsets, leveraging a single platform. The solution provides a secure, multi-lingual channel for banks to innovate by easily deploying new services with improved time to market. The end user experience thus created is richer and truly convenient.

Finacle mobile banking solution integrates easily with disparate host systems, core banking solutions, payment networks and third-party applications. The solution leverages Infosys mConnect, the indigenously developed middleware, which orchestrates mobile transactions between users’ devices and the Finacle universal banking solution. Infosys mConnect handles the multiplicity of form factors and access mechanisms on multiple devices to provide a context and device independent view to the transaction server. This presents banks with a powerful channel to service customer segments ranging from the mass affluent to the under-banked or unbanked, surmounting the challenge posed by the diversity of mobile devices.

The ubiquity of the platform adequately addresses the challenges of encryption, communication, synchronization, image resizing, downloading and security. This ushers in the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs.

Customer On-boarding

Finacle mobile banking enables the bank’s existing customers to be directed to use the mobile channel for banking and payment transactions through the following modes:

Mobile banking facility requested by sending SMS request in prescribed format

Registering for mobile banking through the bank’s Internet banking site

Phone banking leveraging the bank’s tele-banking call center

Mobile Banking and Payments

Customers are enabled to perform several financial transactions on their mobile phones using multiple languages and across multiple time zones. The functional capabilities of the solution include:

Account management and requests like balance inquiry, account aggregation (within and with other banks), mini statements, among others

Term deposit and renewal

Funds transfer (self and third-party accounts with multi-currency support)

Local and international payments with support for expedited payments

Bill presentment and payment

Remote deposit capture

Account origination, Forex rates and calculators

Cheque status inquiry, cheque book requests and stop cheque requests

Customer personalization including account setup and marketing preference

Transaction approvals for corporate customers

ATM and bank branch locator

Remittance request, enquiry and statement

Peer-to-peer payments

Business-to-business payments

Contactless payments

Support for administrative tasks like secure mails to relationship manager, approvals, password/ PIN change, block credit/ debit/ ATM card, customer billing, data synchronization and self-audit

Key Modules

Mobile Financial Management

The solution offers unmatched support to manage finances on the move. This helps banking consumers make informed decisions. A comprehensive set of tools is provided to enhance financial management.

Quantitative (such as EMI calculators) and qualitative analysis tools (such as budget vs. spend analysis)

Transaction tagging

Product selectors and comparators

Virtual financial advisory services through video chat on mobile

Alerts

This module empowers customers to subscribe and receive a wide variety of mobile alerts. The solution supports both push and pull alerts along with customizable alerts via integration with Finacle alerts solution. The module also allows the customer to set preferences and limits for alerts and configure ‘do not disturb’ timings.

Value Added Services

Finacle offers a gamut of value added services that provide extended convenience and comfort to the customer. These include:

Mobile commerce

Mobile ticketing

Mobile top-up for prepaid card recharge

Mobile advertising, based on location, user profile and actions

Mobile remittances to charity causes

Mobile wallet

Demat and stock trading services

Security

Finacle mobile banking solution offers state-of-the-art security through optimized measures. The solution offers:

Two factor authentication – PIN encryption

J2ME MIDP 2.0 support for SSL/ TLS

Encryption of data stored on mobile phone

Support for binary XML

Enabling and disabling of mobile numbers

Support for additional authentication mechanism

Business Benefits

Greater Customer Convenience

Finacle mobile banking solution empowers banking customers to make informed decisions by providing them with an invaluable set of financial management tools on the mobile handset. These tools help in quantitative and qualitative analysis, as well as in the selection and comparison of financial products.

Reduced Turnaround Time

Finacle mobile banking solution has a robust integration framework which allows it to function in tandem with disparate host systems, core banking solutions, payment networks and third-party applications. This translates into reduced go-to-market time for the bank as well as support for legacy systems.

Robust Inclusivity Framework

Finacle mobile banking solution leverages Infosys mConnect to smoothly hurdle the challenges posed by the multiplicity of form factors and access mechanisms on multiple devices to provide a context-agnostic view to the transaction server. This enables banks to include, through the mobile channel, its various customer segments, ranging from the HNWI to specific unbanked communities, surmounting the complexities of diverse location and dissimilar mobile devices.

Maximize Innovation

Banks can leverage Finacle solution’s indigenously developed middleware Infosys mConnect, to configure an unlimited palette of services from any channel, to the mobile space, with ease. The need for development of new back end services is precluded due to the availability of a banking solution behind the mobile interface. Finacle also provides the flexibility to deploy services over the existing online banking platform or through a standalone delivery channel interfaced directly with the relevant host systems. This ensures the rapid delivery of a comprehensive range of financial services, embellished with new innovative features, on mobile devices.

Business Benefits

Robust Security

The solution offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. The solution also supports OTP (one time password), which provides a two factor authentication mechanism for users transacting with downloadable mobility client. This enables the bank to offer products that are highly secure and geared to withstand the onslaught of security threats associated with mobile transactions.

Cost Savings

The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs. This translates into significant cost savings without banks having to compromise on features or the range of devices supported. The mobile banking solution is inherently independent of the network service provider, obviating the need to build a business model that involves costs and profits sharing with them.

Customer Delight

Finacle mobile banking solution enables banks to offer the convenience of comprehensive anywhere anytime banking, using GPRS, mobile browser or SMS. It supports a wide range of mobile devices and mobile browsers. Banking customers can query on account balances and make fund transfers. Banks can also proactively send timely information to customers in a completely secure environment, whenever a customer-defined event occurs. The solution’s self-service capabilities empower customers to manage their banking activities better. The solution also addresses data transmission and storage related security concerns adequately, delivering a truly streamlined customer experience.

The Truth About Banking How To Break The Bank

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First of all, what is money? Money is nothing more than a medium used to exchange for goods and services.

Initially, it was an actual receipt for an amount of gold that people stored with the towns goldsmith. Money is also called fiat, which in the Blacks Law dictionary 5th Edition is defined as: Paper currency not backed by gold or silver (which is in direct contravention of the U.S. constitution).

Nowadays, money is becoming digital, a mere number on a computer screen that is printed on a receipt and can be monitored and transferred on a thin, pocket-sized piece of plastic. Now that we know what money is, lets talk about its origination.

The actual receipt or note for the amount of gold stored with the goldsmith was worthless, what gave it any value was the actual gold it represented. However, these notes or receipts had much more mobility than sacks of gold, so people started to view them as valuable.

The goldsmith started to notice the pattern that people were not withdrawing their gold very often, if at all, after storing it with him. So he decided to loan gold via receipts, to other townsmen, assuming that they were not going to come withdraw their actual gold deposit anytime soon. He would charge an interest fee on these loans that were all profit to him, with no regards to the persons whose gold it actually belonged to.

When these loan were repaid, he ended up profiting an actual amount of gold with an added interest amount, entirely based around the created value of piece of paper representing someone elses gold. This fraud created the base principle that every bank in the world to date is built upon.

Banks today are actually built upon creating debt with a currency that is created directly on a computer screen. There is nothing that backs these notes anymore, only the mere thought of gold. We the people have created value in cash, and there is plenty of it out there.

However, if everyone decided one day to withdraw all of there cash, like our once gold, from the banks, or the once goldsmith, the banks would fall hard because the majority would not be compensated for their own, hard earned currency.

Why do you think that there has been talk about the government turning money completely digital and completely eliminating cash all together, forcing people into using checks, credit and debit cards as the only source of currency? There are already companies like paypal and alertpay who have profited off of this knowledge.

The ironic part is that even though the banks have the power to create money out of thin air, they need people to request these creations. They need people to request mortgage loans and car loans, so they can profit off of the interest and the eventually paid loan. If someone is not able to repay their loans, they confiscate their properties and turn them into profit.

The majority of the real estate across our nation is owned by a bank. The fraudulent principle that created banks, has given banks the power and ownership of almost everything you see in your day to day life.

Check out these quotes:

Let me issue, and control a nations finances, and I care not which puppet sits on the throne [Mayor Amchel Rothchild (1743-1812)];

It is well enough that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning [Henry Ford];

The depression was the calculated ‘shearing’ of the public by the World Money powers, triggered by the planned sudden shortage of supply of call money in the New York money market….The One World Government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve Bank [Curtis Dall, FDR’s son-in-law as quoted in his book, “My Exploited Father-in-Law”].

I am merely scratching the surface of this monstrous mountain made of money, but what can we do about this? Well, first of all, we have to help each other instead of borrowing from the bank for every dollar needed. If we looked towards each other instead of the banks, the banks only purpose would be for keeping our money safe and insured (which is their actual original purpose).

Work at home programs is the best solutions to this problem. The majority of them do not require a large lump sum of money to get started, and your income has potential to be unlimited. Of course taxes may come into play, depending on how big your company grows, but this works better than paying taxes on top of owing money to begin with.

However, what I have found to work exceptionally well, and is completely tax free is cash gifting. Since cash is the bottom line of all business, and people have created so much of it due to the cycle of financing created debt with the banks, why not circulate it through the hands of the people and rid the middleman banker?

If more and more people got involved in cash gifting, the only job for the banks would be to do what they were meant to do in the first place, instead of profiting from a debt and interest created by someone in need. We the people have to take back our power and break the bankers hold on us, ourselves. If not, debt will enslave us forever.

I hope you have found this article to be resourceful and/or informative to you in some way. Lets start rebuilding our economy ourselves. Best wishes to you in all of your ventures!

Standard chartered online banking hints and tips

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Online banking is a great feature which has come a long way from what it was. Standard Chartered Online Banking offers so many features which make banking much more convenient than it used to be. With the Standard Chartered online banking you can bank from anywhere you want, at any time during the day. You can even do mobile banking by accessing your bank account from your mobile phone as long as you can access the internet with it. Opening a Standard Chartered online bank account is quite simple and it can be done in no time at all. However, with the rise in internet fraud all around the world you have to be careful while using these online banking services.

Yes, you do have to take some common sense precautions to safeguard your personal information, but if you do so, internet banking can a be safe, secure and convenient way to pay credit cards, access online savings accounts, balance checking accounts and conduct a host of other online financial transactions. So what do you need to do?do?

Here are a few simple guidelines which you need to follow to have a safe and secure online banking experience with Standard Chartered:

1) Never give your username and password you use to log on to your online account to anyone. Honest, a bank employee will not ask you for it – so even if they claim to be part of your bank staff, do not give it to them.

2) If you receive an email with a link in it that leads to your bank’s website – Ignore it! This is a tactic called phishing that may direct you to a website that will take your login information to gain access to your financial accounts. It may even look exactly like your bank’s website, so always use your direct online banking website URL to access your account. Never click an email link and then sign in to your online banking account. Really!

3) Use your own computer to do your online banking on. Shared, public or networked systems at work just make it all the more possible to have your ID stolen.

4) Run Ccleaner, or manually clear browser history, cookies, cache and saved passwords after you accessed your online accounts.

5) No sticky posts or diary entries with ID, username or password. Keep these to yourself by committing them to memory – or at least written down where noone but you will ever find them.

6) Never forget to log out after you are done with the bank’s website. If you forget to do this, most of the other things you did above may not matter.

Take the time to follow the few simple steps listed above and you will help keep your Standard Chartered online banking transactions safe, secure and out of the hands of folks that shouldn’t be seeing them anyway. Of course, that goes for any online service you use where personal information is sent over the internet.

Max Nielsen – always looking for great investments and online banking opportunities. For more info, see internet banking