Banks

Read the Flash Payments articles on the topic: "Banks".

Ripple

How Many Partnerships Does Ripple Have?

RippleNet has hundreds of customers in over 55 countries and 6 continents sending millions of transactions to each other around the world.

Payments

What is an IBAN Converter? How to Convert an IBAN into an Account Number

this guide aims to explain why IBANs exist, what they represent, and how to convert and decode certain bank details to derive an IBAN when arranging an international money transfer.

Tips

IBAN to Account Number

International Bank Account Number – is used for identifying a specific bank account for international money transfers and transactions.

Tips

IBAN Account Calculator, What is it?

The official IBAN Calculator is a special software designed to convert internal bank codes and account numbers into an International Bank Account Number (IBAN).

International Money Transfers

What happens when an international money transfer is made? | Flash Payments

Have you ever wondered what happens to your money after you arrange an international wire transfer? Where does it disappear to? And why is the final amount always less than you were expecting?

Exchange Rates

3 steps to getting the best currency exchange rates

To be sure you are getting the best currency exchange rates, you must know what the current real market foreign exchange rate is and whether any upfront or transaction fees are applied to your transfer, including fees applied by the receiving back to the recipient's account. Do your homework, compare,

Banks

What you need to know about foreign currency transfers

You set up a foreign currency transfer. The money leaves your account. It disappears for days. And then it turns up (significantly reduced) in the recipient's account. That's just how it works right? But have you ever wondered what happens to your money in that in-between period? Where it goes?

Banks

Big banks = high cost international money transfers

Australia ranks among the most expensive G20 countries to send money from. This is largely due to the fees banks charge for international money transfers.

News

$7 billion remittance industry set for massive shake-up

The $7 billion Australian money remittance industry is set for a massive shake-up as a new wave of online and digital-based players enter the market. According to Ashley Jessen, CEO of Profile Booster, the retail money remittance industry is a top candidate for fintech disruption and innovation. “A few years

Payments

How much cash have you got in your wallet?

Let me guess — your wallet is empty, or it recently was. Ten years ago, anyone who had no cash in their pocket would’ve whispered it. Broke til payday or just broke. Having no cash was a source of shame. But suddenly cashless is the new normal. The percentage of

Payments

Take charge of your foreign exchange transfers

Sending money overseas via your bank is often confusing, always expensive and very slow. Now you can change that. Let's break it down... At Flash Payments we make foreign exchange easy, fast and affordable: Based in Sydney Australia, we have engineered Flash Payments from the ground up to deliver intelligent

Banks

Banks to ditch sales incentives to ‘restore trust’

THE toxic sales culture in Australian banks that sees customers saddled with inappropriate financial products may finally be coming to an end. Maybe. All four big banks have committed to winding back the “deep-seated” culture of product-based incentive payments after an independent review into the practice. Stephen Sedgwick AO, the

International Money Transfers

Take charge of your foreign exchange transfers and save

Sending money overseas can be confusing and expensive. Let's break it down... and let us show you just how easy it can be. And you can save a lot. Flash Payments makes foreign exchange easy, fast and affordable. We provide a competitive alternative to the existing opaque, siloed and inefficient

International Money Transfers

The great currency deception - uncovered

When it comes to foreign currency transfers, especially by consumers and small to medium-sized businesses, what you find are big financial institutions bouncing your money around the world like a pinball from one fee-charging bank to another, using a complex and expensive relationship network – a desperate stand-in for an efficient

Regulation

ASIC enforcement taskforce recommends tightening bank rules to protect customers

Banks, financial services houses and credit companies will face public naming and shaming over bad behaviour in a suite of major reforms being considered by the Turnbull government. However, the reforms put forward by the Australian Securities and Investments Commission enforcement review task force do not include naming the executives

FinTech

Fintech all talk no action in bank competition race

Australia's banking sector is one of the most highly concentrated in the world and the much-hyped arrival of digital disruption has hardly shifted the dial. More competition is not the solution to the housing affordability crisis, but there is no doubt it would benefit consumers. Australian Competition and Consumer Commission

Regulation

ASIC’s Greg Medcraft lashes bank ‘oligopoly’

Chairman of the corporate watchdog Greg Medcraft lashed out at the banking “oligopoly” for chipping away at customer trust with sector-wide interest rate hikes out-of-cycle with the Reserve Bank of Australia. “I think every time you do an out-of-cycle increase you chip away that trust,” Mr Medcraft said. “It’s

Banks

When it comes to foreign exchange, don’t pick your own bank by default

In this ever-changing world, Australian retail clients remain creatures of habit. While most of us know that banks like to charge a fee at every turn, we still don’t challenge them. This is extremely evident when sending money overseas, where bank fees are not only exorbitant (in excess of

Currency Conversion

The Real Cost of Foreign Exchange Conversions - What the banks don't want you to know.

Do you know what the actual foreign exchange conversion rate is? You probably know the conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, the market rate is the only real rate at which to convert

International Money Transfers

Are you paying for your banker's $600 lunch?

Big banks are overcharging you by bouncing your money around the globe in a giant shell game while they collect fees and enjoy $600 lunches, on you. In this article, we’ll explore how to stop paying for your banker's lunch, by looking at two of the most common users

Australia

ANZ, Westpac admit breaches in forex trading

ANZ and Westpac have followed rivals and yielded to the corporate regulator’s investigation into banks’ foreign exchange businesses, agreeing to oversight and changes after traders shared confidential client information and traded to benefit themselves. Similarly to the CBA and NAB transgressions, ASIC said Westpac traders disclosed confidential details of

International Money Transfers

Everything you need to know about foreign currency transfers

You set up a foreign currency transfer. The money leaves your account. It disappears for days. And then it turns up (significantly reduced) in the recipient's account. That's just how it works! And the banks really don't need you to know anymore. But, have you ever wondered what happens to

Payments

Discussing Trends in Global Payments at the GCC Financial Forum

Hundreds of international financiers, business leaders and policymakers from around the world gathered in Bahrain to discuss the future of financing at last week’s sixth annual GCC Financial Forum, writes Amy Hirth for Ripple Insights. Watch the video here. Marcus Treacher, head of Ripple’s strategic accounts, spoke alongside

Exchange Rates

The real cost of money conversion

Do you know what the actual foreign exchange money conversion rate is? You probably know what conversion rate your bank is charging you, but did you know there is another "higher" rate known as the market rate? In fact, the market rate is the only real rate to convert your

Australia

Top 5 FinTech and Banking Trends for 2017

* FinTech competition will drive banking transformation. * Continued shift from in-branch to digital channels. * Customer service will be the most important differentiator for banks. Banks should especially be worried about the fact that 33% of millennials don’t believe they’ll need a bank in the next 5 years, and almost