Monthly Archives: February 2017

Some Useful Tips for NRIs to Send Money to India

Whether you initiate a wire transfer from USA to India or choose any other mode of remittance to send money to India, always choose a reliable service provider.

Are you planning to send money overseas? Whether you are sending money for business or personal reasons, it is important to choose the right money transfer service. Many people prefer to use the bank for remitting money internationally. Banks are safe but not a cost-effective option. If you have to send money on a regular basis, remittance through a bank can burn a hole in your pocket. It is important to choose a remittance mode that helps you save money and the recipient gets maximum of what you send.

There are several parameters that you need to consider when sending money from one country to another. If you are confused about which mode to choose for remittance, these parameters can help you make the right choice:

1. Speed with which your money will reach the recipient is very important. Most regular money transfers take at least a few days or one week. So if you want the money to reach quickly, you will have to take the speed of remittance into consideration. You will have to opt for a service through which money will reach the recipient within few minutes or one business day. Besides looking for the speed of disbursement, you also need to know how much the service provider will charge you for quick service.

2. Coverage is the second factor that should be considered by NRIs when they send money to India. Not all financial institutions or banks offer national wide coverage. Even if they do, they charge extra money for the same. Most banks deal with limited currencies such as Euro, US Dollar and Pound and some only entertain foreign currency cheques. There are some money transfer service providers who offer a foreign currency non-resident account scheme that makes it easy for the remitter to send funds in foreign currency to local currency.

3. Third factor is the cost of money transfer service. You need to know that remittance service charges depend on the mode of transaction you have chosen. It also depends on the transaction provider. It is recommended to check the service costs and charges levied by service providers before choosing one. For instance, the charges for SWIFT mode of transaction and demand drafts will be different. You need to find out rates being offered by different service providers. There are several websites on the internet through which you can see rates offered by different agencies in one place. Comparison will ensure that you get the best rates.

4. You also need to take convenience into consideration when sending money. Whether you initiate a wire transfer from USA to India or choose any other mode of remittance, make sure it is convenient for you and the recipient to send and receive money. For instance, options like online payments or offline transactions can be feasible for your remittance needs. Besides choosing a convenient modeFeature Articles, you should also consider the amount of the transactions before choosing a payment mode.

The Different Types of Portfolios

Few common types of portfolios that people all over the world keep to keep their investments sorted. Take a look at some of these types share market portfolio discussed in the sentences that follow

You’d often hear the stock advisors advising people about maintaining a portfolio of all of their stock investments to know how close they have reached to their goals. Just like you can’t always have the same eggs in your basket, it is important to have different types of investments as well in your portfolio. One major factor that is used to judge different portfolios is its risk competence. There are a few common types of portfolios that people all over the world keep to keep their investments sorted. Take a look at some of these types share market portfolio discussed in the sentences that follow.

The Aggressive portfolio:

There are always a variety of players in the stock market and the ones who have a highly aggressive approach towards investments are the ones who do not limit their investments to one type and are always willing to take some risk to grow as an investor. These types of people maintain an aggressive portfolio. In this type of portfolio, all the stocks that are listed have a high proposition towards risk as well as the rewards. They would experience high levels of fluctuations.

The Defensive Portfolio:

This type of portfolio is completely opposite to what we discussed above in the aggressive portfolio and the investors here try to play a defensive game when investing in the stocks. Their portfolio won’t generally have any stock that has a high risk proportion and therefore these stocks would be widely isolated from the major movements that take place in the market. The fact here is simple, these stocks won’t get affected majorly even in conditions when the stock market is widely seeing a downfall or the economies all over the world are showing major fluctuations. As the risk is low, the amount of profits of the shares to buy too won’t be as high as compared to that in the aggressive portfolio stocks.

The Speculative Portfolio:

For all those people who are never worried about taking bigger risks, maintain this kind of portfolio. It is said that this portfolio looks nothing less than pure gambling. In comparison to any other portfolio that we’ll discuss here, this has the maximum amount of risk. People having this type of portfolio keep themselves aware about what is happening in the company of which they have shares to sell. They keep an eye on upcoming decisions and make their investments according to that.

Hybrid Portfolio:

For now that you have checked out all the different types of portfolios, a hybrid portfolio has some characteristics of all of these. The investments made through such a trader would vary across various fields in such a way that a unique balance is created. These type of investors prefer to put in their money in the government schemes, ETFs, etc. through such a portfolioFeature Articles, the investor ensures that they have stocks that will give fixed yet guaranteed returns while some of such options as well that are majorly dependent on the risk factors.

A Refinancing your Car Loan

Buying a car is a good feeling because a luxurious car increases your status. But, don’t allow a car loan to ruin it. By refinancing your car loan, you will be able to enjoy smaller monthly payments and lower interest rates than before.

A car can put a smile on your face. But, a terrible car loan has the potential to convert the smile into a frown. If you are not comfortable with your car loan, it will make managing the monthly payments difficult. In such a situation, refinancing your car loan is the right way of putting your worries to rest.

It simply means replacing your existing car loan with a new one and with different terms. The new lender will pay off your current car loan. Also, you will be able to enjoy benefits such as smaller monthly payments and lower interest rates than before. But, before you think about it, there is a lot to learn about refinancing your car loan.

Accurate information is the Key

Refinancing your car loan can be a difficult task. It is better to be prepared with the following information beforehand:

1. Personal and Contact Information:

Date of birth, social security number, citizenship status, marital status, home address, telephone number and email address.

2. Employment and Income Information

Employment status, name of the employer, work-place phone number, total monthly income and other income sources.

3. Car’s Information

Manufacture year of the car, VIN number, details of the current car loan and information of the current lender.

The Joy of Refinancing Your Car Loan

Why is refinancing your car loan a good idea? Most people see it as a medium to save money. Some people wish to lower their monthly payments. Others opt for it to reduce their interest rates or to adjust their car loan terms. There are various reasons to opt it. Before you make a decision, understand its possible outcomes:

1. Reduction in Monthly Payments

It will help you in reducing the monthly payments. How? It is possible because the new lender will provide you with better interest rates. As a car buyer, lower monthly payments should be a priority for you because it will have a positive impact on your financial situation.

2. Reduction in Interest Rates

If you make timely payments to the current lender, your credit worthiness will improve. And, you will be able to obtain low interest rates while refinancing your car loan. It means the total payable amount will reduce due to lower interest rate.

3. Reduction in Loan Term

You may consider refinancing your car loan with an aim to change your loan term. If you opt for a shorter loan term, the total interest amount will reduce. And, you will be able to save a considerable amount of money.

Refinancing your car loan is worth a try! It will help you to lighten your financial burden. And it will provide you with favorable outcomes in the future as well. So, make a decision of refinancing your car loan today and leave your financial worries behind!

Using the Certified Acceptance by Agent Services

The Acceptance Agent Services are organizations authorized by the IRS helping both the resident and nonresident alien individuals to receive an ITIN by reviewing the authenticity of the supporting identity documents submitted by them. The Acceptance Agent Services are organizations authorized by the IRS helping both the resident and nonresident alien individuals to receive an ITIN by reviewing the authenticity of the supporting identity documents submitted by them.

An Acceptance Agent is basically a person or business organization, for assisting the individuals and other foreign people in obtaining an ITIN. These agents have persuaded in a written agreement with the Internal Revenue Service to collect and review the original supplementary documents submitted by the applicants who are responsible to pay their federal taxes or execute the other financial activities in the US but do not qualify for a Social Security Number. With them the ITIN applications are processed much faster than the individuals applying directly.

Being a CAA or Certified Accept Agent they have the authorization to check that the ITIN applications are correctly filled up, and perhaps more importantly verify that original identification documents are authentic, and submit the certified copies to the office of the IRS, hence eliminate the need of having to submit the original copies of passports, visas, birth certificates, personal tax returns and other supporting ID documents. By using the services of the Acceptance Agents the applicants are able to   avoid the burden of having to be without their important papers for eight weeks and remove the risks of documents getting lost as they would be otherwise mailed overseas to the IRS. They also forwards the ITIN number once it is issued.

The CAA or Certifying Acceptance Agents are available to process the ITIN number applications on behalf of the alien immigrants while the team members at service are honest and reliable in rendering the best of the professional services to the clients. They also provide

  • Free ITIN consultation on behalf of the IRS. Without them the individuals will either have to travel to the US or visit the nearest consulate to have their identification verified and proof   that they are not permanent residents of the US, and still there is not guarantee for them to receive a legal authorization.
  • Customer oriented service. Besides reviewing the supporting documents they prepare a certificate of accuracy letter. This letter is issued when the applicants are able to produce their original passports or certified copies of the documents, thereby ensuring that the ITIN applications have been successfully completed and sends the documents along with the W7 form to IRS for further processing.
  •  A direct telephone access to the ITIN operations to find out the status of the applications. These agents have private numbers where the staff members of the service can directly communicate with the applicants and respond to their queries in case any problem arises. If the individuals try to communicate directly to the IRS regarding their ITIN applications, there are chances that it might take more than six months to resolve the disputes. The staff members of CAA are flexible to speaking in the local languages which makes it easier for the foreign individuals in interacting with them.
  • An in person interview with  each of the ITIN applicants as well as their claim dependents in order to complete the applications. In case of conducting a video conferencing with the respective clients they keep the original certified copies during the interview.

The certifying Acceptance Agent Services have many years of experience in processing the ITIN applications. However, most of them might charge a fee for the services offeredFind Article, but helps the clients from getting their applications rejected.