Tuesday, November 15, 2011

Banking Trends Worlds

BANK WORLDS INTERNATIONAL The World Bank has not undergone major changes over the last three years, and demonstrate the results of these events in 2011 will continue. shows responses to the economic and financial crisis, consumers have less tolerance for risk, tolerance for less government secrecy, more businesses and consumers move their money toward the shore. But these changes in 2011 in strengthening competition in the low-tax jurisdictions and more money flows between continents.

Here are some trends for 2011 clock:

    * Competition: Hong Kong, Singapore see competition as areas with low tax rates.

Emerging markets are the fastest growing high net worth individuals (those with assets of $ 1,000,000) in the world, a new stream of income for consumers, protection of wealth. This will help ensure continued growth in the offshore banking sector in low-tax jurisdictions, particularly since the Asian airports.

According to a KPMG report on corporate tax rates in Hong Kong "world average evolution of competition in the last ten years that many countries now have corporate tax rates similar or lower levels." low-tax areas are struggling to remain competitive in 2011 or tax rates are not enough to be competitive in the long term.

Hong Kong estimated last month that the economy as globalized world in 2010, is facing an intense challenge to maintain its status as number one in the context of globalization, "said Agnes Chan, Regional Managing Partner Ernst & Young , Hong Kong and Macao. "Despite its success should not be in the further development of the most globalized economy in the world, Hong Kong will rest on its laurels," said Chan.

    * Right: More transparency for individuals and financial institutions are required, followed by intensified efforts of criminal sanction.

A series of sanctions imposed foreign bank in 2011, probably during its offshore facilities in the home of many organizations. Requirements include reports of assets stricter and more comprehensive protection of privacy loss, and more control throughout. The United States makes bank accounts for non-residents increased transparency. If the American member of the European Savings Directive (DUST), holders of non-US accounts information will be shared, reducing the attractiveness of investing in America. The directive will give the U.S. greater access to information about its inhabitants offshore bank accounts.

criminal enforcement efforts are also a priority for governments. The U.S. is also strengthening the enforcement and prosecution of tax evasion through offshore banks. But it could also mean more than a witch hunt, both for individuals and professionals who supported them, and most cases could set precedents and examples to do. Stricter regulation under the Bank Secrecy Act is seeing an increase in filing of returns (FBAR filings), strengthened programs against money laundering and reporting suspicious activities and transactions border. The IRS has announced plans for a new Offshore Voluntary Disclosure Program, but introduces introduce more stringent measures and the impact of a similar program two years ago.

    * Asset Protection: Investors head East.

With an atmosphere of increasingly unfavorable in offshore facilities in the West and the OECD countries, more investors away from Europe and the United States can led investments for individuals and institutions, their holdings by moving into emerging economies that offer growth prospects for the recovery phases to protect the global recession, and greater intimacy, as in Asia and the Middle East. This is potentially very damaging to these countries have called for greater penalties, such as the legal use of offshore financial centers is a major part of financial revenue for the British banking system and the U.S. - technically the largest offshore jurisdiction worldwide.

    * Technology: Trends, the easier it is to run the country.

A year ago, amid intense pressure from the IRS and the OECD, UBS Swiss bankers were convinced that the concessions of confidentiality would have minimal impact on the Swiss offshore financial sector. However, a recent case in which identities were sent WikiLeaks site, the ubiquity of the Internet, privacy is becoming a non-option for offshore banking services provider. The future of the industry is weak in the statutory tax hubs.

Growth in the cloud leads to more business in practice. Prepare yourself to handle more transactions on the Internet and to see more international business. The trends observed in 2011, including security threats for banks, the challenges and opportunities in atomization, Cloud Computing and key management.

    Consumer Behavior *

Much of what happens will be driven this year by consumer behavior. The recession and pauses property and stock markets, investors are scared away from risk.

In a recent interview with the magazine's financial assets, ABN AMRO Private Banking Asia CEO Hans Diederen, said the rich in the post-crisis environment, customers have seen their demand for more:
• Products: simple, most liquid investment products that offer more privacy.
• Diversification: the growing diversification in asset classes not stock (and bond funds, for example).
• Proximity: The closer to home investment and the region.
• Information: For more product information
But one thing has not changed, Diederen noted, "the appetite of customers' investment is still driven by market sentiment." With these consumer trends, offshore banking in Singapore and offshore banking in Hong Kong the best places for investment must be mitigated risks.

International Banking Online Transfer Worlds

INTERNATIONAL BANK WORLDS: The money will be transferred across continents everyday. People who send money abroad to relatives who live in their homeland. Foreign companies to work with people around the world in the employee's income to send by wire transfer procedures. Thus, the transfer of money something that happens on a large scale and on a daily basis. There are many ways to transfer money worldwide. Money can, the account holder's account and the account holders to withdraw money when he needs it to be transferred. But the transfer of the safest and most popular is the system of transfer or bank transfer. This is a money transfer by a person or institution to another. It is also possible to transfer money from one bank account to another account. Bank transfer is also possible in various offices of the designated cash. Transfer to transfer money for individual rather than a bulky amount, the contractor is not paid by bank wire group. The money is wired to an account holder of another person or institution.

Transfers are considered the safest and most reliable currency transfer. It is also one of the fastest ways to transfer money from one person to another. The person who wants to send money goes to a bank or exchange office that occupies the position of the transfer. The details of the transfer, including the recipient's name, bank account, amount, the city and country codes must be completed and submitted to transfer the amount. A bank or an office that sends money in the transfer of the sender's expense fee. This fee depends on the amount sent and have the receiver is charged. The bank then sends in contact with the receiving bank and provide the transfer details and details of the recipient. The transfer may take several hours, and in some cases one or two days. If the currency must be converted, then the exchange rate and the Commission has set before sending the receiver cut a bank account. The fees of the receiver to pay the amount he or she receives an amount slightly less than the actual amount. In this way, international bank accounts and profits generated funds.

Another form of transfer is the use of debit cards and credit cards. The electronic code on the back of the card with the bank account connected Inter and stolen each time by an e-store code is a transfer between the card account and bank account fund holders will be saved. Thus, the payment, an aspect often in everyday life and one of the best ways to use currency in international perspective transmission.

Worlds Bank Reconciliation

BANK WORLDS RECONCILIATION : Bank reconciliation is a comparison of the general account at a bank on behalf of the Company by a statement from the bankers of the society at large end of the month sent occupied. It could, by the end of the month, each time after the date the accounting firm of the closure. The bank reconciliation prepared, elements that are missing or not properly treated in the two account found.

The common differences and their treatment are:

Each month the bank charges bank usually charges for the operation of the bank account. These fees are generally not up to the final end of the month published. By agreement, the bank can enforce a subscription to the loan interest, so that the repayment of the loan amount can not forget to register in the general ledger.

To correct this omission [. Debit bank charges, interest, etc., and credit the bank account in the ledger]

Deposits in transit: It is a time delay is due to the fact that the deposits were not near the end of the month written by the bank when the deposit arrived after the end of the month. No entry in the ledger is essential for this position.

These checks are outstanding checks that were issued in a given month, but not yet redeemed by the recipient at the end of the month or the end. No entry in the ledger is essential for this position.

Checks issued and then canceled These are controls which are lost by the receiver declared. The accountant called the bank and stopped payment but not the entry in the ledger.

Accounting entry: If the bank account to which the check was credited at the time of payment and debit the appropriate expense account, thus reversing the charge.

The loan will be issued by the bank can get a loan from the bank to be approved can be exciting. After the excitement of everyone forgets to save the entry in the ledger. To correct this omission, bank debits the account ledger to represent to the amount of credit, credit the loan account relevant determining liability.

The above list of reconciling items is not exhaustive but provides some of the items that require adjustments at the end.

The construction of reconciliation:

With the above elements, conciliation is prepared as follows:

Balance per bank statement to ...... 2011 ... say, $ 220,000

Deposits in transit, say 30 000

Cheques issued but not yet paid (35,000)

Reconciled bank statement balance of $ 215,000

General ledger bank account balance 111 200

Add: Bank loans received 100 000

Check issued in 4000 and then canceled

Less: Bank charges (200)

General Ledger Bank $ 215,000

The above statement shows that the account balance at the end of the period $ 215,000 correct, the residual amount after adjusting journal entries to bank loans, to check record cancellation fee and the bank were displayed in the correct reporting period. The bank statement shows currently $ 220,000 $ 30,000 deposit is due is not paid by the bank and $ 35,000 checks were not paid to the beneficiaries.

Online Banking Tips

BANK WORLDS ONLINE TIPS : As technology has improved over the past ten years, cleverer and smarter criminals proportionately. This is particularly true in the online world - the universe, in which crooks hide behind e-mails, Web sites and wrong characters. Unfortunately, these same criminals would find their way into your bank account. However, there are some simple tips to follow to secure an online banking experience.

Protect your password: Your password is the key, the door to your online bank account is opened. As such crooks as to this vital information would know. To avoid this, make sure your password is not too personal. Avoid using your birth date, phone number, social security number or password. Craft a password that combines letters and numbers is impersonal. The more the better. It is also recommended to change your password every few months or more.

ATTENTION suspicious e-mails: If you want to steal personal information online often use the so-called "phishing." In this exercise, criminals may send e-mails for information about your credit card PIN (Personal Identification Numbers) or passwords. Crooks in online banking e-mails are often to be the legitimate financial institutions seem. These emails may seem convincing, because they contain the logo of a real online bank. However, these emails often contain a link that takes you to a fake site designed to entice you to provide personal information compromise.

These suspicious e-mails can be easily recognized because they usually do not directly address, they contain numerous grammatical errors, and they have links to suspicious or unknown areas. If an e-mail is questionable, it is always safer to check with your financial institution. legitimate e-mails from your online bank generally follow the same standards every time. They usually address that you ask your own name and will never enter your password, PIN or credit card information. A legitimate online banking in general, you find out about their safety on the official website. If all else fails, call customer service to get clarity on the security policies of your bank.

Use anti-virus and firewall: When it comes to online banking, can be an anti-virus and firewall invaluable. Ensure the best protection your money can buy to get. High prices not always guarantee the best quality. Compare prices and consult experts in computer or PC magazines to find products with high ratings. Anti-virus and firewall protects your computer from viruses, the space on the hard drive of your computer to steal or steal, your personal information.

Contact your financial institution: Do not hesitate to ask for help with your financial institution if you think you may have submitted your personal information to a fraudulent website. quickly in fact, the contact, if this ever happens. Also, make sure that your bank has your mailing address and telephone number (s). If you wish to communicate sensitive information, they will tend to make a call and / or send you something in the mail on this topic.

International Bank Worlds Online

BANK WORLDS : cotton paper with a weight of about 80 to 90 grams per square meter is mainly used in the preparation of World Bank bonds. The final decision is made on the directives of the Central Bank of each country is based. Here it is decided that the design must be money.

Cotton that goes into the production of silver is mixed at times with different elements such as abaca and flax. Sometimes, even a couple of other textile fibers. Although the paper used to make money is not the same as that of plain paper in the sense that they are the very properties of wear resistant. On average, there is a bill has a duration of about 2 years.

With the exception of non-traffic, high quality precious commemorative coins or metal used for lower value of monetary units, while paper money is used for higher values.

United States during the 10th March 1982, issued paper money. Seven days later he was declared by Congress as a legal tender. Since 1844, the pound sterling as the most common form of currency in the United Kingdom has been accepted. 1. January 1999, the birth of the euro.

Before the conceptualization of paper money, silver and currency which was used as a precious metal. The preciousness of a metal was determined on its rarity. The Gold Nugget from Australia of $ 10,000 would be the perfect example. Struck In Australia, there may be one of the largest gold coin in the world. Translated, he is proud of one kg of 99.9% pure gold.

But change all the time and tide slowly but surely. And this was the case with precious metals. The use of them lost over a period of time and money to paper gradually be accepted to the universal standard.

The physical process of making paper money includes several complex steps. The modern age has invented the invention of many machines called super-tech for the sole purpose of carrying out this task, given top secret.

Why paper money has even become a very popular hobby and growing fast. People from around the world are now collecting all kinds of bank notes as a hobby. That's because people find tickets for different countries tell a clear story about the original people, art, culture, history and essence of the life of this country. Almost all collectors of currency, the more determined to at least one of several notes from the World Bank, to collect all the countries within their collection.

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