Offshore Banking - Myths & Facts

By James Bauman Ph.D.

MYTH: Offshore banking can't be that good because they can't really pay the high interest rates they offer. If they could really pay those rates then U.S. banks would try to be competitive and have the same interest rates.

FACT: Examine closely the financial statements of any U.S. Bank. You will see that their "gross" profits against customer deposits can range from 25% to 40% -- but -- they have laws written in stone to limit the interest amount they can pay customers on their deposits. The U.S. banks place their earnings into unnecessary frills and non-productive expenditures like fancy buildings etc., while offshore banking facilities don't do this and share their profits with their customers.

MYTH: Offshore banking isn't regulated, so you are at risk of losing all money deposited with them.

FACT: The truth is that every country in the free world has regulations, rules and laws governing financial institutions and banks. Those regulations, rules, and laws, however, are much less restrictive than the "protectionist" U.S. banking regulations, rules, and laws and allow the offshore banking industry better opportunity to earn much greater profits for their investors and depositors.

MYTH: Offshore banking facilities are not insured by the F.D.I.C.

FACT: Some of the banks are but not that many. If they are, they must comply with the same protectionist banking regulations and rules as all the other F.D.I.C. insured banks. But, the majority of offshore banking facilities are insured; one way or another.

Depositor insurance programs similar to the F.D.I.C. program have been established in some countries, so that the banks in those countries have their deposits insured. Independent insurance companies insure the deposits of offshore banking facilities in other countries AND unlike the F.D.I.C., insure 100% of the banks deposits; not just those under $100,000. (By the way, some of the banks in the U.S. insure their deposits with independent insurance companies and many banks in the U.S. are not F.D.I.C. insured)

Offshore banking is "self-insured" for the most part which means those banks have a liquidity factor equal to 100% (or more) of the deposits on the books. Those banks have $1 (or more) in liquid assets for every $1 held on deposit. Therefore, there is no bank run because they can cover any depositor demand.

Self-insured offshore banking is actually more secure than F.D.I.C. insured U.S. banking. Why? Because the F.D.I.C. insured U.S. banks are permitted to maintain a liquidity factor equivalent to approximately 10 percent of their public deposits. (Is it any wonder why more U.S. banks fail each year than in any other country?)

Which kind of bank would you feel more safe having your money in? An offshore banking institution which as one dollar in cash for every dollar on deposit, or a U.S. bank which as ten cents in cash for every dollar that shows up on the deposit statement they give their clients?

MYTH: Offshore banking isn't as big or strong as U.S. banking.

FACT: Of the strongest and largest big banks in the world (in assets), one bank ONLY is located in the United States:

Here are the safest offshore banks in the world, according to a ranking done in 2007 after examining their total assets in US dollars. This ranking is compiled from balance sheet information included on AllBanks.org

1 UBS AG Switzerland 2 Barclays UK 3 The Royal Bank of Scotland Group UK 4 Deutsche Bank AG Germany 5 BNP Paribas SA France 6 The Bank of Tokyo-Mitsubishi UFJ Ltd Japan 7 ABN AMRO Holding NV Netherlands 8 Societe Generale France 9 Credit Agricole SA France 10 Bank of America NA USA

2008/2009 UPDATE AFTER THE FINANCIAL COLLAPSE OF 2008

Germanys largest bank, Deutsche Bank AG, reported a fourth quarter loss of about $6.3 billion. A year earlier, the bank posted a profit of about $1.3 billion (1 billion euros), Bloomberg reported.

Royal Bank of Scotland is expected to post losses of as high as £1.7 billion.

Bucking the trend is a bank not even on the list above and that bank is Standard Chartered bank which is expecting to post profits of 1.3 billion pounds. I have a contact who can help you open an account at this bank for your company if you desire to do so. The account would be in Hong Kong.

Another bank I know about is rated AAA by an independent rating service and if you are not from the U.S. or if you are from the U.S. and have a foreign LLC or IBC to open the account with then you can deposit $15,000 and get involved in their borrow low and deposit high program which has earned depositors as much as 100% per year on their deposit. It is easy to open an account there.

MYTH: Offshore banking must not be very good, or more facilities would advertise their services in newspapers and magazines in the U.S.

FACT: Offshore banking in general is restricted by law from advertising in magazines, newspapers, radio and on T.V. unless they come under the same protectionist rules and regulations that are placed upon U.S. banks. Knowing that, you should be cautious about doing business with any offshore banking facility that publicly advertises in the U.S. media. Because you can be very sure that they have sold-out to the U.S. banking establishment and that establishment will end up selling you out to those who make the rules.

MYTH: Offshore banking is only for the wealthy.

FACT: About 25 years ago, that may have been true. But I know of about three offshore banking facilities that will allow you to open an account for as little as $500. One of these is in the Asia, another in Europe, and another in Latin America.

MYTH: Opening an account at an offshore banking facility is too difficult, and it is very difficult to get a withdrawal when you need it.

FACT: Opening an account at an offshore banking facility is easy because you just follow the instructions they give to you. Getting your money out only requires a request that you fax or email with an attachment included.

This article is governed by international copyright laws and is governed by the laws of Ezine Articles. Violators of their rules will be punished to the fullest extent possible.

James Bauman Ph.D. has been involved with the offshore world, banking, and asset protection for about 12 years now. During that time he has gained an education in offshore banking and high yield return investing and has learned of an offshore bank where depositors regularly make 50% to 100% high yield return on their money per year. Out of the experience he has gained over the years he developed the offshore banking and asset protection business FREEDOM OFFSHORE SERVICES. You can find out more and how to get FREE offshore bank account introductions here: http://www.freedomoffshore.com/offshorebanking.html Also, you can learn more about why a personal offshore bank account is not the safest way to control your offshore banking here: http://www.freedomoffshore.com/offshorebankaccounts.html Now, how do you know we are real? If you want a reference for us then we can give you someone to contact who will confirm our integrity.
We hope to serve you not only in a way that saves you money, but by giving you quality service also. May your experience in the world of offshore banking and asset protection always be a pleasant one with our help.

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The Benefits of Business Money Market Accounts

By Evie Phan

Business money market accounts are investment tools that give companies easy access to their funds while offering a very reasonable rate of return. But this is not the only benefit of taking this investing route. Let's look at a few others:

Tiered Account Rates - Many banks offer the benefit of tiered account rates, which means the more cash you place in your account, the higher your interest rate will be. So as you add to your balance, you will be able to take advantage of a higher rate of return.

Liquidity/Check-Writing Privileges - Another benefit of using business money market accounts as one of your company's investment tools is taking advantage of a liquid account. You will likely always have access to your funds, which would be available through your check-writing privileges.

No Minimum Transaction Amount - As a promotional tool, most financial institutions require no minimum transaction amount for your account. This definitely helps in cutting down your fees, making investing that much easier.

The above benefits are good reasons to take on an account for your company. But before you dive in, be sure to consider the following:

• Possible limitations. There may be some limitations on the number of transactions you can make a month with some business money market accounts. For instance, you may not be able to make over 6 withdrawals without being penalized.

• Fees/Minimum amount required. Some institutions may implement a minimum amount that is required to remain in your account at all times. For many, this amount is $5,000. If you fall below it, you may be accessed a monthly service fee.

With many other investment tools available for companies, business money market accounts are just one of the ways you can gain returns on your funds. But because they are so liquid and offer many of the privileges of a bank account, you can benefit well from making this one of the ways you choose to invest for your company.

Go Banking Rates

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Example of Hardship Letters - Top 6 Tips to Write a Financial Hardship Letter

By Eric Banks

A hardship letter is addressed to the lender or the mortgage company by the borrower once he / she has missed some of the payments. This letter serves as the basis or your communication & future negotiations with the lender or the mortgage company. The borrower aims to explain his / her current position with this letter. It is a must that this letter is presented in the best & most effective way possible in order to strike up the best deal with the lender.

Tips To Write Financial Hardship Letter

Here are some tips that would help you write an effective financial hardship letter.

· The letter must be written in a formal manner.

· The letter should be mailed by some certified mail service. Also check that you have the receipt of receiving of this letter.

· The hardship letter has to be very neat and concise. In case your hand writing is bad, prefer to get the letter typed.

· The letter must comprise of the borrower's loan number along with the preferred option like short sale or loan modification, the borrower's name, borrower's address, borrower's phone numbers and the borrower's email address.

· Financially it comprises of the borrower's current monthly income, monthly expenditure and the reason of the financial crisis.

· This letter must be written quite in time in order to avoid a foreclosure.

Financial Hardship Sample Letter

A sample letter for financial hardship letter is as follows:

Debra Jones
ABC Street, XYZ Town
State - 12345
Contact No.: 921112345

John Williams
JKL Street, XYZ Town
State - 12345

Loan Number: ........... : Forbearance

Today's Date

Dear Mr. Williams,

This is to apologize for the lapse in my monthly payments. Actually, I met with an accident 2 months before and was hospitalized all this time. I have undergone several operations in this time and am on bed rest now. I can join back to the job after another 2 months or so.

All these 4 months I have not got my salary. That is why I could not cover up for the monthly payments. I guess, the situation shall get normal once I join back the work. I request you settle down for the forbearance for a few months. I can not afford to lose this house.

Rest, I shall wait for your response.

Regards,
Debra Jones
Contact No.: 921112345,
Email- debrajones@abcmail.com

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Government Funded Minority Grants

By Michelle Rozel

Government minority grants are available to assist individuals in many different areas. There are virtually billions of dollars in government funded minority grants awarded yearly to African Americans, Hispanics, Asians, American Indians, the handicapped and any other minority group you can think of. Even just being of the female persuasion categorizes one as a minority.

Contrary to unfortunate past discrimination, in today's world being considered a minority often works to your advantage. If you fall under any of the categories listed above (and then some) you are already eligible to receive one or more government funded minority grants. It's that simple.

Who qualifies for Minority Grants?

There are a countless amount government agencies and foundations across the U.S.A. who offer certain types of grant grants that specifically benefit the minority population. There are various minority grants to apply for. You simply must meet the eligibility requirements to qualify. Below are only a few of the minority groups that qualify for minority grants.

African Americans

It seems that African Americans have seen the benefits of an enormous increase in college minority grant opportunities over the last several years, including funding for The United Negro College Fund, The Frederick Douglas Scholars Program, The National Black Nurses Association, The March of Dimes Nursing Scholarships, The American Psychological Association's minority fellowship program, just to name a few. The United Negro College Fund (UNCF) is by far the most widely known and impressive minority college grant. The UNCF coined the well known phrase "a mind is a terrible thing to waste" which has been widely embraced across the U.S. More than three dozen historically African American colleges and universities in the USA are funded by this minority college grant .

Hispanic Minority Grants

Hispanic minority grants are also becoming more readily available in recent months. While once few in comparison to the other minorities grant opportunities, the government has acknowledged this deficit and contributed in excess of $10 million dollars towards the development and expansion of Hispanic populated colleges. On top of that those funds, the government has also distributed millions of dollars towards already established Hispanic populated universities and colleges. As of late, there has been an extensive rise in enrollment with the utilization of minority grants such as The Hispanic Nurses Association grants and scholarships, March of Dimes Nursing Scholarship program, Scholarship for Disadvantaged Students program, Nursing Education Loan Repayment program and The Hispanic Scholarship Fund Institute.

Native American Minority Grants

Unfortunately, it may be a bit harder for native Americans to cut through some of the red tape. But it's not impossible. In order to qualify and become approved for Native American minority grants, you must possess a Certificate of Indian Blood (CIB), and belong to a well-recognized tribe. This is may be difficult if you're a native of tribe that did not keep documentation. If you are a native American who does possess a CIB, then you have a great chance of being eligible to receive Native American minority grants like Tribal Wildlife Grants, Tribal Colleges Education Equity Grants, Indian Adult Education, or Minority Science and Engineering Improvement.

Disadvantaged Groups Minority Grants

If you are able to prove that you have a disability, whether it physical or mental, there are a large amount of minority grants that are specifically designed to assist you in your educational endeavors, whether for college, physical rehabilitation, speech therapy, or preschool. Those are only a few.

There are so many different types of minority categories that it's quite likely that you fall into one of them without even knowing. There's no better time to find out what minority grants you may be qualified to attain.

See if you qualify to receive free minority grants. Millions of Americans are benefiting from obtaining these funds, and you can too just by asking for free grant money...

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Income From ISA's

By Ian Ramsey

Cash ISA's are always popular savings products amongst regular savers as they enable the saver to invest up to £3,600 and enjoy the income without paying any tax on it. Each citizen in the UK is also permitted to invest an amount tax free into a stocks and shares ISA but given the current financial climate this option is seen as more risky than investing in a Cash ISA.

As with most saving products most cash ISA's offer greater returns for investors who invest all their funds in one go and do not need much access to those funds. For this type of investor it is usually recommended that funds are deposited into a variable rate ISA account to maximise returns, with top rates on this type of product currently at around 3.5%. However, for many savers looking to take full advantage of a cash ISA investing a lump sum upfront is not an option as they simply do not have the resources to do so. An alternative for this type of saver is a regular saver cash ISA.

This type of product allows the investor to deposit £300 monthly and earn interest tax free. Often this type of saving is not as beneficial as investing a lump sum but First Direct have released a product paying 7% monthly interest. The interest on the regular saver account is calculated at the end of each month, with the figure being drawn up from the amount in the account at that time. This product offers great potential income but allows little or no withdrawals so for any saver who will need to access funds from their ISA this may not be the best choice.

Using an ISA is a great way to maximise savings income. For any individual looking at ISA's it is important to compare cash ISA's and use a savings calculator to determine which product is best for the individuals requirements.

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Top 10 Ways to Survive in 2009

By Jonathan Browne

1.

Stop all completely unnecessary wasteful spending and pay off high interest debt

2. Don't try to sell your house for 2004 prices. Too many people are still in a house that they can barely afford because they are trying to sell it for more than anyone will buy it in todays market.

3. Find a cheap/free living situation. Move in with your parents/relatives/friends if you can.

4. Figure out how to make extra money online.

5. Save at least 30% of your income. Do not invest it unless you are extremely confident in your investment or large solid blue-chip companies like apple have dramatic stock plunges.

6. Learn to cook at home, and how to shop better at the grocery store. If you buy real nutritious food from the grocery store and cook it at home instead of eating out, you will save a significant amount of money each week. Don't go to the grocery store and buy a bunch of snacks. A big plus: your health should improve dramatically if you do this.

7. Spend your money on things which have real value to you. It's important that Americans continue to spend money. We should vote with our money though and spend on things that have true value to us, instead of spending on luxury items like jewelery, way too expensive clothing, electronics we won't even use etc.

8. Reduce your energy footprint. Get more efficient lighting, shut off lights, electronics, computers when not in use.

9. Learn basic survival skills like how to build a fire, create shelter, ration food, grow food, store food, do first aid etc. No one is hoping for the worst, but you never know how bad things could get.

10. It's the new year! End your senseless addictions to Starbucks, cigarettes, and McDonald's hamburgers.

http://howtodealwithcreditorsandgetoutofdebt.blogspot.com/2008/12/top-10-ways-to-survive-in-2009.html

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Free Government Grant Scam

By Austin Warty

may have been a victim of the government grant scam in the past. You receive promises of billions of dollars in free money being available from the government, and that a grant check is waiting for you with your name on it. Is this a complete scam, or is there really free grant money available for US citizens to claim?

The answer is yes and no. The government does in fact allocate billions, if not trillions, of dollars in grant money that is given away every year. Many of these grants are for research, community development, and to help small businesses. Students are also able to fairly easily receive free grant money from both the government and private foundations that offer these programs. Between the government and private foundation grants, there are thousands of programs that provide financial aid to people and organizations to help them achieve their goals. Typically a grant means the money does not need to be repaid, which makes them drastically different than loans.

Where the government grant scam does exist is when you receive a call from someone that says you were just awarded a grant for thousands of dollars. To claim your money, all you need to do is verify your identity by providing some personal information. This is most likely a scam. The government does not randomly call people to inform them they were awarded free money. In order to receive a grant, you have to apply for it, and the process is one that you would remember applying for. If you were to receive a grant, you would not be called up unexpectedly. You would be notified by mail and anticipating that approval letter, not surprised by a random caller. Don't fall for this government grant scam.

You can access to the database to find the free grant money that is available. See how much you can qualify to receive and obtain your check in as little as 7 days just by asking for free government money...

Article Source: http://EzineArticles.com/?expert=Austin_Warty

Seller Financing - Welcome to the Other Side

By Aaron Dyer

We've discussed the various methods of procuring funding, but what about life on the flip side of financing? Seller financing is a completely different ballgame where a new set of rules applies. It is your job to know them so you won't find yourself in the ninth inning without a hope of scoring.

If you've decided it's time to move on to another field or simply move on to a different stage of life, selling your business might be part of that package deal. Seller financing can be the ideal way to continue the legacy that is your business as well as profit financially and personally from the transaction. When done correctly, it can provide you with immediate funds in the form of a down payment and then a regular series of payments based on your outlined agreement with the buyer.

In terms of a down payment, it is in your best interest to ask for as large and reasonable sum as possible up front. This guarantees you a greater security of payment and fewer complications later on. The remainder of the purchases price, or unpaid balance, should be documented in a promissory note or mortgage. The office of the secretary of state will place a lien on the property in order to document the transaction and in the event that the buyer defaults on that note, you will be able to step back into your previous role of owner.

You need to adjust your way of thinking and step into the lender's shoes, the same shoes you found yourself quaking before in times past. Run credit checks, background reports, and find information concerning the buyer's experience of running a business. Do they have any?

Knowing their past business management history will aid you in making an informed decision in selling to the individual. If they have a strong business track record with proven results, then it is more likely they will continue that success with your business. This will then lead to timely payments of the balance left on the selling price.

Another option for protecting yourself in the event of future misfortune, is asking the buyer to take out a life insurance policy naming you as beneficiary. This may sound absurd or morbid, but it will ultimately protect you. In the event of their death, the remainder of the debt should be covered in such a policy and you won't find yourself financially six feet under. Remember, this is business and being blunt is necessary. Although such a request may be slightly uncomfortable, it should not be unexpected as it is common practice.

Another important item to determine involves a timeline for payment. How much time are you willing and able to give the buyer to fulfill their financial obligations to you? If you feel sudden pangs of sympathy with the buyer over such a difficult process, step aside and consider the facts.

The more time you allow the buyer to pay off means greater risk to you. If their business acumen is not quite up to par, and the business falls apart, your money will go down with that ship. You will likely be forced to repossess the business and start the process of selling over again. And this is a best-case scenario, as it implies the business hasn't lost all value and isn't steeped in debt.

The options involved with seller financing can be appealing, but you have to be willing to set those ground rules. Set out definite terms on the payment schedule, loan period, and interest rates. Seller financing is generally short term, five to seven years, at the end of which it is assumed the business will be in a better place financially to pay off any remaining balance by more easily procuring funds from a lending institution.

Parting with your business can be emotionally taxing, but don't let it take a toll on your financial portfolio. It's a detailed process, so take your time and make sure you're selling to the right buyer. It is likely you will still be dealing with that person for some time, so don't set yourself up for a difficult relationship. This can be one more way your business can give back to you after all that you've put into it.

For more on these topics visit Dyer Consulting Group.

Aaron Dyer is President of Dyer Consulting Group, a firm that works with start-ups and small businesses who want to increase the value of their company. He helps them focus on ways to grow their business through better strategic planning and financial management, which have led to higher revenues and greater profitability for his clients. Aaron brings over 12 years of proven financial, business development, strategic planning, sales and marketing, and management expertise to his clients. His passion for helping companies improve their operations and create value compelled him to found Dyer Consulting Group.

Visit Dyer Consultung Group on the web at http://dyerconsultinggroup.com

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8 Simple Ways to Make Free Money

By Danielle Siebenaler

If the economy has got you down and you are in need of some extra cash, or you just want to supplement your income, there are ways to make free money almost instantly. Sure it may take a little tiny bit of work, but it certainly won't cost you eight hours of work a day only to receive a measly check two weeks later! By doing all or just a few of these things, you can and will make some extra money very easily, it's just a matter of how bad you want or need the dough!

1. Sell stuff on eBay.

Take a look around your house and ask friends and family members for items that are just taking up space. You can sell anything and people will most certainly buy it. Since you can choose auction times that are as short as 3 days, you can have money right away doing this with very little work!

2. Take clothes to a Consignment shop.

If you don't have a digital camera for eBay, or just flat out don't want to mess with it, look for a consignment shop. Just about every neighborhood has one, and they can't sell items without buying from people like you! All you have to do is make sure the clothes are presentable, clean, and ironed and take them to the store. They will have you fill out a form and go through your loot. They probably won't keep everything, however, for the items they do want, you will get cash instantly on the spot for it. Very cool!

3. Turn in your bottles and cans.

Many people don't know that they can trade in plastic bottles and aluminum cans for money. You can get anywhere from 5-10 cents for each thing you turn in, depending on what state you live in. This can really add up if you save them over time.

4. Write Articles for Associated Content.

By submitting original articles to associated content they will pay you anywhere between $2 and $8 per article. The cash is deposited straight into your PayPal account upon approval of your submission! The only catch is you can't publish the articles anywhere else!

5. Offer dog sitting or babysitting services.

Many people can't afford current daycare rates whether it's for their children or their beloved pets. At the same time, many daycare facilities don't offer services past 5pm or on the weekends. By charging less than the average local rate and offering evening and weekend services you can establish a loyal
clientele almost instantly!

6. Do chores for a family member.

Call up a family member or even an elderly neighbor and see if they need help with any household chores or yard work. Decide upon a fair hourly rate and how often they will pay you. This is a win-win situation because you are both helping each other.

7. Have a garage sale.

Whatever you don't sell on eBay or consignment can be piled together and sold at a garage sale. You may not sell it all in one weekend but if you do it for a few weekends in a row you could get a nice chunk of change!

8. Ask someone for a small loan.

Sometimes you are left with no other option other than to ask for help. If you are desperate, don't be afraid to swallow your pride and ask for help. We have all been there, and the worst they can say is no!

Of course, if you get really creative you can come up with more, but these are just a few ways to make some fast cash. You can even do a few of these things together to make more money!

If you want to learn how other ways you can make fast money please visit Free Cash Venture.

Danielle is a a work-at-home mommy and enjoys helping others who want to generate an income for themselves as well!

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Can Anyone Claim Free Government Money?

By Austin Warty

It seems every channel you turn to on the radio and TV there is more information about free government money that Americans can claim. But while there is billions of dollars handed out every year, is this money actually available to individuals?

There are limitations and strict eligibility requirements to obtain these funds, but they are available and they can be claimed by individuals. Most of the grants that you will find when you search the database are reserved for community development, research, college students and small business owners. There are, however, a number of smaller grant programs that can provide the individual with the cash they need to help them reach their goal.

Small is a relative term though. There is thousands of dollars provided to people to help them pay their bills, go back to school, and even buy real estate. But it would be tough to find the $50,000+ grants that are offered to small business owners and those who are interested in starting a small business.

The great thing about government grants, or grants provided from any organization for that matter, is that they never have to be paid back. This is money you receive to spend on a specific purpose, and you will never be asked to repay the money. And while billions of dollars is being provided, most Americans still are not entirely aware that these programs exist or how to go about applying for them. Those who qualify, however, are able to enjoy receiving free government money that never has to be paid back.

Instantly access to the database to get your debt grants. See how much you can qualify to receive and obtain your check in as little as 7 days just by asking for debt relief grants...

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