How To Effect Wire Transfers International

Intermediary Bank

         Bank To Bank Wire Transfers

International wire transfers help to make money transfers to other countries possible. You may face situations where you are in need of money and you have to get it transferred to your account while on a tour abroad, or someone in another country is in need of money from you. In either case, wire transfers are undeniably useful. You may also have apprehensions about the money so sent;, about if it’ll reach the destination safely. A safe and a common method to send money worldwide is through international wire transfer. This is easy and simple.

There are two different modes of sending money internationally, and we will discuss them here.

Wire transfer between banks

  • When you make bank to bank wire transfers, two banks or more can be involved. You have to visit the bank from where you wish to send the money to make the transfer. Tell the banker that you wish to make a wire transfer international. He may help you, or he may direct you to another bank, an intermediary bank, from where it is possible to make a wire transfer.
  • Get the essential paperwork to authorize and effect the wire transfer. The paper work may vary with the banks, but the basic requirements, like your account involved, the amount of transfer, the recipient name, the recipient account number, and the recipient bank name and address, are to be handed over with your signature.
  • You have to get the confirmation and a receipt for your wire transfer. On the other end, it may have been transferred directly to the recipient bank or may have been transferred to an intermediary bank first and later to the recipient bank.

Wire transfer between consumers

  • When it is between consumers, contact the person to whom the wire transfer has to be made. Find out which wire transfer service they have an account with. You will have to make use of the same wire transfer service to affect it.

    Bank Wire Transfers

              Consumer To Consumer Wire Transfers

  • Do the paper work required for international money transfer between consumers. It may be different for different wire transfer services, or may vary with countries. If there is a generic form for all wire transfers internationally, that makes it easy.
  • Transfer the amount and wait for the confirmation. Get the receipt for your transfer. The wire transfer service and the country of the recipient are deciding factors for the speedy transfer of money. Any way it does not take more than 10 minutes for transfer.

Inform the person that the transfer has been completed, and he can take the money by providing a photo ID.

Sean Mckelvey on Google+

Best Aeronautical Engineering Colleges In America

List Of Colleges In USA

         Best Institutions In The List Of Colleges In USA

America has always been believed to be the land of opportunities. Are you trying to pursue higher education? Then opting for aeronautical engineering will prove to be a wise decision, provided you have the right aptitude. Nowadays, there are many lucrative career opportunities coming up in the way of aeronautical engineering. The best thing is that there is a list of colleges in USA with extraordinary credentials in the field of aeronautical engineering.

Embry –Riddle Aeronautical University

Embry –Riddle aeronautical university happens to be the oldest in the list of colleges in USA and the most eminent educational institution that specializes in the field of aviation and aerospace. The aeronautical engineering program is perfectly designed to teach the students the complete aerospace designs along with modern analysis, theory and computational methods. The address of the college is as given below.

Embry –Riddle aeronautical university

600, S Clyde Morris Blvd

Daytona Beach, FL, 32114

(386) 226-6000

 Georgia Institute Of Technology

The Georgia institute of technology is also considered as one of the best institutions in the list of colleges in USA for aeronautical engineering. The institute is situated at the heart of Atlanta. The comprehensive engineering program provides a top-notch educational program in aerodynamics, space structures, flight, propulsion and orbital mechanics. The address of the college is as given below.

Georgia institute of technology

270 Ferst Drive

Atlanta, GA, 30332

(404) 894-3000

U.S Air Force Academy

The U.S Air force academy is indeed one of the best institutions in the list of colleges in USA for aeronautical engineering. The college is situated at Colorado Springs and is very popular in preparing young cadets to serve effectively in the Air force. Unlike other colleges, the cadets studying at the U.S Air force academy are required to complete their basic training prior to their enrolment for the aeronautical degree program. In this academy, cadets are given excellent training in various disciplines and that includes aircraft designing, engine designing, propulsion and computational investigations.

Career Opportunities

                Top-Notch Colleges

Massachusetts institute of technology (MIT) is situated outside the state of Boston. The students who study in this prestigious institution will obtain knowledge about the basic principles of aerospace engineering, combined with information technology. The address of the college is as given below.

Massachusetts institute of technology (MIT)

77 Massachusetts Ave
Cambridge, MA 02139
(617) 253-1000

Are you planning to pursue a career in aeronautical engineering? Then you can certainly choose a college from the list of colleges mentioned above and fulfill your dreams.

Sean Mckelvey on Google+

Do A Wire Transfer The Next Time You Send Money To Someone

Bank Wire Transfer

       Send Money Through Bank Wire Transfer

Wire transfer is a method of electronic transfer of funds. PayPal allows us to do such wire transfers worldwide through their website. Nothing more is required to do a wire transfer than an email address and a valid credit card. Adding to that, nowadays, even banks that provide internet-banking facilities let their customers do a wire transfer through the internet.

Fundamentally, a wire transfer is the transfer of money from one bank account to another. A third party always does the wire transfer, like a bank wire transfer service provider. During these transactions, both the sender and the receiver physically do not see or touch the money, since the transactions are carried out electronically.

Even though most banks have introduced online banking services in addition to the usual banking services, many people are still reluctant to go for an online wire transfer. They go for a traditional wire transfer instead, because they are used to it and feel the need that money should be transferred physically. Such people trust a bank that has a good reputation and offer reliable services. They are not comfortable with banks that work exclusively over the internet.

To transfer money through the traditional wire transfer method, you will have to get in touch with the bank through the phone or the internet. After which, certain details like the name of the person or company to which you want to send money, as well as the routing number, account number, phone number and address of the recipient’s bank should be provided to them.


           Banks Offer Wire Transfer

Next, you will have to decide on how much money is to be transferred and the date on which the money is to be transferred. Once the bank collects all the necessary details, they will initiate the wire transfer. Before deciding upon doing a wire transfer, always make sure to have sufficient fund in your bank account, if not, the transfer will not be authorized.

Later, after requesting for a wire transfer, confirm with the bank if the bank wire transfer has been done successfully or not. It is always good to check with the bank and make sure if it is done. Most of the banks would charge for such wire transfers and hence you will have to find how much they would charge for the wire transfer.

Wire transfer done with the help of a third party like PayPal, does a credit transfer. Hence, it is easier and faster when compared to the traditional method. However, people who have been banking the traditional way for years may still find it difficult to trust transactions made online!

Sean Mckelvey on Google+

Some Known Facts About Short Term Investments

Best Short Term Investments

     Selecting The Best Short Term Investments

Investing is primarily an act of purchasing an asset that is capable of generating additional income through their appreciation in value. In fact, an investment is done with a view to create future wealth. The process is fundamentally based on the assumption of appreciation of the assets so purchased.

A short-term investment is done to recover profit within after two to four years. In fact, you invest for a limited time and reap profits within the period. The best short term investments consider return, risks and liquidity. When you take into account these fluctuating variables, it is certain that you gain profit.

You cannot always rely on long-term investments for the sake of profit. Short term investments are risky and hence many people shy away from the transactions. Indeed, the best short term investments could give you exactly what you need. It is wise to select those stocks that are less risky and at the same time provide you with the maximum possible returns.

The following list will help you identify the profitable editions of short-term investments. Read out and find the best short term investments tailor made for you.

Microloan programs

The Microloans program helps the beneficiaries to avail small loans that do not require any collateral. One cannot surrender collateral while availing loans from banks and registered financial institutions and derive the benefits from Microloans.

During the process, the investors hand over their funds to experienced lenders. These skilled lenders provide technical assistance as well. The benefit for investors comes as interests and it is almost the same as the rates charged by the bankers and financial lending institutions. The only difference is that the collateral is not acquired from the borrowers. The risk is obvious but the job is entrusted with special lenders.

Money market instruments

Banks and Credit unions offer a savings account facility that help you mobilize your short term investments. Even though you could receive a higher rate of interest on the account in consensus with the current rates, you need to maintain a high minimum balance usually, $1000. Withdrawals within this account are restricted as well.

Additional Income

       Opting For The Best Short Term Investments

Exchange traded funds are shares that are transacted in stock exchanges. It includes commodities, stocks and assets. These are the best short term investments, as they come at economical rates. Exchange traded funds are purchased and sold on the same day so that liquidity is ensured to the maximum.

Planning your short-term investments is fundamental. Prior to that, you need to consider your pecuniary needs and decide on the right short-term investment choice.

Sean Mckelvey on Google+

Tips That Really Work On A Coffee Date

Coffee date tips

            Get coffee date tips

Meeting the love of your life will be a unique experience especially if it is for the first time.  If you really expect the person to be your future partner, you need to try to read the mind of the other. A coffee date would the perfect way for both of you to spend some time, as you would get more time to talk. Having a conversation will definitely help you to know whether both your interests meet and you could proceed with your love only if you find the person right for you or you could just simply stay as friends.

A coffee date is anyway special because it can be considered as the perfect setting for the first date. You could have some coffee, engage in a good conversation, and spend some time together until you decide whether to proceed with the relationship. Since first date is always special, it would be better if you make certain preparations. This would impress your date much and it will leave your first date a memorable one. These coffee date tips would definitely help you if you were looking to make it a memorable day.

Prepare a schedule

You need to start the preparation much early in the day. Since it is a coffee date, you cannot spend hours and hours in the coffee shop and engage in a conversation. The period would be short and within this limited time, you would have to get to know each other better. If you wish to postpone the date, it would be easy to do since it is a coffee date. You need to plan for two hours and this time is more than enough to engage in a conversation on the first date. This is one of the effective coffee date tips that you could try.

Coffee shop

                Find coffee date tips

You need to create an atmosphere to understand the other person and know about her interests. A conversation will definitely let you know whether you have good chemistry or not. You can keep the conversation quite light and the subject that you choose for the conversation should be about your hobbies, favorite stars or anything simple. It would be better to avoid religious topics or politics on the first date.

Engaging in a conversation will help the other person know about your interests as well and both of you could then decide whether to continue with the relationship. But, it will always be better to consider these coffee date tips before you go for the date.

Sean Mckelvey on Google+

How International Transactions Are Carried Out

Intermediary Bank

                      Intermediary Banks

Often during huge financial transactions, the organization about to receive a transfer will use an intermediary bank to complete conduct said transactions. An intermediary bank takes the responsibility of the transaction between the person initiating the transfer and the person who is to receive it.

In similar fashion when countries are importing commodities, a collecting bank takes care of completing the international sales transaction using documentary credits. Thus, a collecting bank becomes a facilitator of transactions on behalf of the importer. Documentary credit transaction employs letters of credit, delivery documents, and other essential intermediaries to remove any hassles that usually affect international transactions. What happens is that these intermediaries, which are banks on both sides of the transaction, deliver a type of escrow service, so that payment and transfer of goods occur simultaneously. This is done so that neither party in the transaction becomes vulnerable to risks of being a non-performer. The basic function of these collecting banks is to collect payment from the importer or the buyer.

These transactions can be done by both business organizations. However transactions between business organizations do not necessarily affect the trade relations between nations, but when it is the country itself that acts as importer or seller, these collecting banks play a very critical role. As international trade is important for the sustenance of any economy these banks allow companies to expand further into foreign soil, which means more production and more employment.

The role of a collecting bank is not limited to mere collection of payment. They also act like impeachable agents for the importer, which means if goods were delivered then the buyer is liable to make immediate payment. These transactions can’t be cancelled on whim, and there are strict rules and regulations at play during each transaction. Rules in documents that strictly outline the agreement are enforced by collecting banks.

International Sales Transaction

                 Play Role In Trade Relations

However, documentary transactions can be also applied to trade that doesn’t cover international borders. Any bank can take the responsibility of acting as an intermediary or collecting bank, wherever it can act as an agent for collecting payments from the buyer, and ensure that the seller gets payment in strict compliance to the terms of the agreement. The document is probably the most important part of this process, as it defines the exact conditions to let the collecting bank release money to the seller. In addition, the collecting banks also possess an additional document detailing when they should pay out the received money.

This is some information on intermediary banks and how they typically operate. For more on this, refer to banking resource magazines online.

Sean Mckelvey on Google+

More On Wire Transfer Payments

Intermediary Bank Name

                      Intermediary Bank

A wire transfer payment is nothing but an electronic way that financial institutions and individuals pay for goods or services as per a previous agreement. This method of payment has been around for several years and was available for larger organizations. The development in technology has considerably decreased the cost of a wire transfer payment so that a variety of individuals can avail themselves this service. Financial institutions are one of the main sources of financial wire transfers. Wire transfer also makes it possible for businesses and individuals in foreign countries to transfer money, as this method of transfer is believed to be a more secure way when compared to the other payment modes.

Businesses and individuals will be able to initiate the wire transfer payment directly from their bank account. Many of the financial institutions make use of highly secure banking websites that are capable of protecting the client’s information and allow the payment initiation process to occur. Banks will need information like the amount to be paid, name of the recipient, name of the bank that is receiving the transfer, and the bank account number.

Much of the processes of wire transfer take place behind the scenes of the normal banking process. Banks will be sending information electronically with the instructions to complete the transfer process successfully. Many a times, the banks should physically approve and then post the information regarding the wire transfer payment. This step usually slows down the process and allows the sending bank to do a final review before completing the transaction.

Wire Transfer Payment

              Intermediary Bank Name

Financial institutions have agreements with each other to make sure that the payments are done smoothly between the banking systems. When the user tries to send money electronically, there can be the involvement of intermediary bank to complete the transaction successfully. Intermediary banks are just the mediator that stands between the sending bank and the receiving bank. In situations where intermediary banks are involved, the sender should know the intermediary bank name. If you do not know the intermediary bank name, you can contact your bank to know this.

Moreover, the banks and other financial institutions that send money internationally must be having similar agreements in order to accept the electronic transfer. If you wish to know more on bank wire transfer, you can contact your bank. They will be able to provide you more information on the bank wire transfer.

Sean Mckelvey on Google+

Top Colleges In United States Of America

Best Colleges In Usa

                             Colleges In Usa

In the United States of America, the education is normally provided by the public sector. In the country of US, one can find great importance for education. The fiscal power is arranged by state, local, and the federal government. Child education is obligatory and so no one in US gets unemployed. In USA, there are many accredited schools, universities, and colleges that you can choose from.

One will be able to acquire undergraduate, graduate, and doctoral degrees from the best colleges in USA. There are even a number of sources that offer financial aid or scholarships to those students who are not in a situation to afford the expenses of getting an education. In USA, the quality of education is highly respected and so the demand for quality education is increasing. You can find a number of migrants in US who have come to get good quality higher education. United States is the largest education hub in the world and education in US makes use of advanced technologies.

There are many programs that are offered by different colleges for various degree levels. In the American style of education, there is equal importance to indoor and outdoor activities. There are a number of affordable educational provinces in US. Finding the best colleges in USA can be a hectic task. If you are trying to figure out the best colleges in USA, you can go through the guidelines that are listed below.


Research is a very important step that one should take to find out the correct colleges and universities. You can go through the numerous educational websites to find your ultimate destination. There are a number of universities that endorse some colleges and many of the colleges have their own individual websites to advertise them.

Visit A Counselor

Child Education

                              Best Colleges

You can make a visit to the counselor to boost your confidence or help you to choose the correct stream. You will be able to decide on the course, field, or program that you need to choose by discussing with the counselor.

Understand the place

After you have decided on the college or university, it is good to practically visit the place. You can meet the professors and students to know about the place and the standards of education that is being offered. You may also read the reviews of the college to finalize your decision.

These are some of the important things that you should consider while choosing a college in the United States of America.

Sean Mckelvey on Google+

Significance Of Working Capital Loans

Working capital loan

                               Bank loan

A working capital loan is an important requisite for both small and medium business firms. There are numerous cases when companies are not able to create the income required to meet expenditures incurred by the daily operations. In such situations, companies make use of these loans.  Other type of loans allows companies to obtain capital for further growth. On the other hand, a working capital loan covers only the expenditures that are incurred by the existing capital and other human resources (for example utilities, employee payrolls, rent etc). The details mentioned below will tell you more about these loans and their significance.

About taking a working capital loan

One of the most important advantages of such loans is that it lets companies get that additional time required for finding ways to create the required revenue based on their existing capital along with their human resources.  The gross working capital is actually the current assets of a company whereas the net working capital is current assets minus current liabilities.

Accessibility to such short-term loans is easy, if your company is in a position to fill out new orders that exceed the present production capacity. In addition to that, the company should also be in a position to venture into new markets, maintain appropriate inventory levels and has sufficient resources for marketing to boost sales. Other factors such as previous credit history, annual turnover and available collateral also plays crucial roles to get short-term loans from banks and other financial institutions.

There are different types of WC loans. They are cash/credit loans, term loans (TL) and letter of credit (LC). Another major decisive factor to obtain these loans is ROC or return on capital.

Current assets

          Existing working capital

WC loans can be mainly categorized in to two. One is known as short-term loan and the other is the medium-term loan. Short-term loans mature within 1 year. On the other hand, medium term WC loans mature in a time span of 1 to 3 years.

Most of the banks are very strict with the term of the WC loans that they approve for any company. The loan will be approved only if the company has the capacity to repay the loan in time without making any defaults.

Are you planning to take WC loans for the growth of your business? Then the above-mentioned details would indeed be quite helpful.

Sean Mckelvey on Google+

The Top International Law Schools

Best law schools

                  law schools of acclaim

Getting to the best law schools can be tough but this can take your career forward and to great heights. Admissions to law schools of repute equips you with an academic background to make a good start in dynamic legal firms or to concentrate  in international law, and  get to a top post with a government agency or the military.  Ratings from ‘U.S. News and World Report’ for the best law schools of 2009  show  three schools as the leading centers for the study of international law.

Columbia law school

Columbia University has been rated as the top school for international law in 2009, according to ‘U.S. News and World Report’. The rankings are based on peer reviews, reviews by judges and lawyers, placement rates among the other few criteria. Columbia has the rating of top school for international law, and the fourth best overall law school and only behind Yale, Harvard and Stanford. Columbia Law School has been one of the pioneers in international law, which can be traced back to mid-1800s.  The Law school at Columbia gives provision to its students in international law to go outside of the country for studies and do joint-degree programmes in international law.  Columbia Law School has interdisciplinary programmes, which are considered as one of its pioneering programmes in this field with spotlight on economics, ethics and international law.

New York University school of law

interdisciplinary programmes

                      law schools of fame

The law school at the New York University has been rated as the second best in international law and the fifth best in overall by the ‘U.S. News and World Report’. The course studies offered to the students include seminars and colloquia in the areas of foreign, international and comparative law.  The university  law school  is the sponsor   for conferences on  the  issues of globalization  and public regulatory issues .The New York University  course  programme  comprises of global trade , international human rights, security issues and the United  Nations among others. The school for international law is offered through Hauser Global Law School Program.

Harvard law school

Harvard University is one among the few pioneering schools in the country. In international law   Harvard has been rated number three by the ‘U.S. News, and World Report’. In overall category, Harvard has been rated second best law school and in all the disciplines.  The international law programme is offered through the Institute for Global Law and Policy (IGLP) and the Program on International Financial Systems. International problems are focused and research done on them.

These three best law schools in the country are also the best in the world.

Sean Mckelvey on Google+