How does a banking work?


Posted April 22nd, 2009 by admin 3 Comments »
banking
wizard101z asked:


Im 18 yrs old and im planning to open a account. But i dont know how banking works. i dont want to ask my parents about banking because i want to surprise them. Pls explain in simple terms how a bank works.

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Posted in Credit | 3 Comments »

How much money can I receive as a gift without paying income tax?


Posted January 14th, 2009 by admin 5 Comments »
money
Anandam asked:


I live in the US, California. My parents who live overseas want to give me some money as gift. Wondering how much I can receive without paying income tax. Also, when the money is transfered to my account do I need to fill out any form and submit to IRS?

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Posted in United States | 5 Comments »

What exactly is Western Union Money transfer and how do I use it to send money?


Posted January 14th, 2009 by admin 5 Comments »
money
Matthew H asked:


My friend is currently backpacking around Asia, I recieved an email from him today which was very brief, he said he had got into some bother and needs money quickly, he asked me to send him some money via Western Union and that I must not tell his parents or his sister, all very mysterious but he said he would explain and give back my money when he gets back in October.
Anyway, I’m happy to send the money but I’v got no idea what Western Union is or how I would send money to him using it.
Can somebody please explain it to me?
Thanks!

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Posted in Personal Finance | 5 Comments »