What is a group of money called?
Drop to drop cases
A transfer is a banking operation through which you can send money to an account, whether it is a Savings or Checking account. This operation works for accounts within the same entity or between different entities.
In addition, there are transfers to national, international or Internet accounts. Keep in mind that the time in which the money is received may vary depending on some conditions such as if the transfer is between accounts of the same entity or if it is for an account abroad.
Banking entities were born with the intention of facilitating certain economic activities to citizens, offering them security, protection and care of their resources. In addition, they offer
It is the set of goods, rights, obligations and debts that you have in your name. To understand objectively the importance of the concept of patrimony in terms of personal finances is
The investments resulting from the money saved through the implementation of a financial planning program pay off and help you achieve fixed goals. If within your financial planning, savings have been
Types of banks
Ponzi schemes and financial pyramids are scams. They are mechanisms in which the profits obtained by the first investors come from the resources contributed by new clients. Therefore, for a system of this nature to be sustained, it is necessary to capture increasing flows of money from new investors.
The story began with Charles Ponzi, who in 1920 swindled more than 10,000 residents of New England, U.S.A., by offering them to invest in a business with considerable returns. The promised returns were around 50% in just 90 days; at the time, the annual interest rate on bank accounts was around 5%. Tempting, isn’t it?
One of the advantages of formal savings or of using financial institutions such as Banks, Savings Banks and Sofipos or any other authorized and supervised instrument, is that you have access to other financial services such as credit and insurance, plus you can earn interest, but, above all, your money is protected by deposit insurance.
With Wells Fargo ExpressSend service, you can send money from your eligible Wells Fargo checking or savings accounts to family or friends (beneficiaries) in South America to the following Remittance Network Members:
Step 2 – Provide your beneficiary information. Tell us who should receive the money (beneficiary) and how you want your beneficiary to receive the money (pick up in cash or deposit into the beneficiary’s account).
Customers who are minors cannot enroll in the Wells Fargo ExpressSend service. Many countries have restrictions that limit the ability of a minor to be the Beneficiary of a money transfer transaction. The Sender must ensure that their Beneficiary is eligible to receive funds sent to the designated Remittance Network Member.
Money transfers to your beneficiary at both Banco Davivienda and Grupo Éxito, from all money transfer service providers, will be aggregated to determine if the limits have been reached with respect to the amount or transactions. When your beneficiary attempts to pick up or receive a money transfer at either institution, the total amount and the total number of transactions picked up or received that same day from both institutions will be counted as part of these amount or transaction limits. Each Remittance Network Member (RNM) will retain any transaction that exceeds the limit with respect to the amount or transactions.
How to know if I am being swindled
To understand what an investment is, we must know that it implies certainty of a possibility of making a profit after performing a specific economic or financial action and guaranteeing that certainty with money. This is one of the most common ways of putting money to work for you.
To be sure that this certainty of obtaining profits is a great possibility requires a deep analysis prior to the action of putting money in that certainty. Without analysis you do not invest, you bet and, as you know, bets are riskier.
In more concrete economic terms, in an investment a certain amount of money previously established is assigned to third parties with the purpose of obtaining monetary yields in the form of profit, previously calculated and established beforehand.
Financial investments are those that acquire securities related to the financial market, with the objective of obtaining profits from the capital placed through the behavior of those assets. This type of investments are the most common, since there are different options with different rules and specific yields for each one of them.