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Banking Basics
31 posts
What is a bank statement?
Your financial institution prepares a bank statement each month. A bank statement shows all the transactions and income related…
How to Send and Receive Payments with Facebook Messenger
Facebook Messenger isn’t only for chatting. Facebook Messenger allows you to send money (and receive payments) from friends. This is…
How to Open a Banking Account and what you need.
You’ll have to select a bank, and then provide them with the necessary information. This includes your ID…
How to conduct an international wire transfer
The fastest way to transfer money from one bank directly to another is through wire transfers. It’s relatively easy…
What is Interest?
Interest represents the cost of borrowing. The lender gets interest and the borrower pays it. The Key Takeaways Interest is…
How to convert percentages to decimals
Understanding and your finances is made easier by knowing how to convert decimals to percentages and vice versa. You need to…
What is Annual Percentage Yield (APR)?
DEFINITION Annual percentage return is a rate of return on an investment for a period of 12 months that…
Escrow accounts come in different types.
It’s frightening to think that buyers and sellers are often forced to work together on the basis of…
How to Open a Bank Online Account
You can open a bank account from the comforts of your home. It should take you only a few…
What is a Tanda?
DEFINITION A tanda is a rotating savings and credit association (ROSCA) formed by a group of people who know one…