Which PSU bank is good for inward remittance/forex services?
I'm planning to open a PSU bank account. Currently all I have is private bank accounts while the service is really good the forex rates are terrible. Just wanna know which PSU bank is good in forex related services. Also the bank should have most to all of its services online. Required services: - most/all of the banking services online - Inward remmit, no need of branch visit with too many documents - almost equal to their listed forex rates - inward remit no hidden charges - inward remit should have tech consultancy purpose code Rejecting SBI and Indian Bank for their bad customer services. I have ended up with 3 banks: - Bank of Baroda - Punjab National Bank - Indian Overseas Bank Here's my tiny research on the above banks. Bank of Baroda: I'm mostly leaning towards this bank since they have most of their services online. Like everything. Even Account opening is online. They do have nice credit cards too. I heard it has really good forex services. Punjab National Bank: Better forex rates than BoB but requires bank visits for many things. Has an option to open account digitally too but I doubt their services. I don't think the forex services are good. Okayish mobile app. Indian Overseas Bank: Top forex rates than any bank. Can't open account digitally. Bad mobile app. Makes you visit branch. I don't think it has good customer service, since it kinda gives me SBI vibes. TL;DR: Need a good PSU bank with good forex rates, less charges/tax/hidden charges and good forex services (which also includes proper purpose code)
Audit : procedures on testing forex exchange gain or loss
Hi, I am in audit and the only thing that bothers me is how to test this? Can you share any tips on how to do this? A sample excel file or formula would be very helpful. Thank you!
If a country buys goods from another country will they use dollar their foreign reserve? Or they exchange through the forex? Or how what’s the procedure going in between
The Forex trading sector as it currently sits is vulnerable to the likes of settlement risks, high fees and delayed remittances. Here's how the Blockchain mitigates that and further improves this financial system.
CBN: Nigerian banks set to begin payment of remittance inflows in forex
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says deposit money banks will begin remittances from international money transfer operators (IMTOs) on Friday, December 4. A statement released by the apex bank on Thursday quoted Emefiele as saying the bank has engaged banks and IMTOs to ensure that recipients of remittance inflows are able to receive their funds in the foreign currency of their choice. The CBN policy helped the naira regain strength at the parallel market. At the close of trading on Thursday, the naira exchanged at N470 to the dollar. https://www.today.ng/business/finance/cbn-nigerian-banks-set-payment-remittance-inflows-forex-330419
There are certain forex strategy and tactics you should always follow in order to help ensure that you get the best results possible. It’s a combination of certain trading skills and proven procedures. Tap for details.
There are certain forex strategy and tactics you should always follow in order to help ensure that you get the best results possible. It’s a combination of certain trading skills and proven procedures. Tap for details.
ABN Travels & FOREX (P) Ltd. | Authorized agent to send money abroad | Receive Money Money in India | Send Money from India | Domestic Money Transfer | Indo Nepal Remittance
So I mostly trade Forex rather than crypto but i do like crypto a lot, but the disadvantages for small traders in Forex like me are hilarious in comparison to almost any other market on earth. The banks are basically playing a different game - the brokers get screwed. (https://financetrain.com/how-is-blockchain-disrupting-the-forex-trading-market). There seems to be some adoption, but it’s all very nebulous (https://fixedincomeapac.wbresearch.com/blog/block-chain-basics - total beginner article for most people here but all i could find) I’m wondering if using stablecoins for Forex would actually be a great way to get an edge and start to break up the shadow FX market? Crypto already is talked about for international remittance (i use it for that all the time), but why not for more efficient, fair currency exchange? I think adoption maybe just isn’t wide enough yet for something like that to be worth it. I found one protocol that talks about Forex a lot in its marketing (https://coinmarketcap.com/alexandria/article/what-is-onomy-protocol) but that’s about it. Any others trying to do the same thing?
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