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Evolution of Bank Routing Numbers

Have you ever wondered what that 9 figure number is in the bottom left hand side of your bank notes? Plenty of people have this question. As a matter of fact, about 50,000 people search for routing number related terms in search engine listings every month.

The routing number is also described as a transit number or ABA number. It is comprised of a 9 figure code and it is utilized in the United States of America. The individual design of this number is to determine the depository financial institution or financial organization from which the cash referred to on the cheque is to be withdrawn.

With so many banking companies in existence nowadays, this number is very helpful to the depository financial institution taking a deposition of a check in determining where they need to get the money. It was at one time a difficult undertaking to determine where bank checks were written from. In fact, this difficulty has historically been exploited by criminals to commit fraud against banks.

Therefore, this numerical system was formulated to streamline and clarify the procedure for clearing houses and for banks. This has helped in the reliable transferal of money between banks on behalf of their clients for years now.

This system has even been developed. The serialized number makes it easier for computers to understand and apply the information and as recently as 2004 it has been used to transmit electronic bank checks also known as echecks or EFTs (electronic funds transfer). This started out with the passage of the Check 21 Act which has helped to reduce the reliance on paper bank checks by making it allowable to make digital copies of bank checks.

This handy number system dates all the way back to 1910 when the American Bankers Association (ABA) organised it to help interbank relations. It has been used ever since to help the banking industry to work smoothly.

Can you envisage trying to keep track of over 26 thousand different banking companies that issue bank checks? As a banker you would be overcome with work trying to determine where to get your money! This is precisely the problem that the ABA has successfully helped to solve since 1910.

About 26,895 routing numbers are actively put to use in the United States of America today. This is because every financial organization must have one by law. That means that every depository financial institution is required to have an ABA number assigned to them before they open their doors.

The cheque routing number is an important development in the story of banking. It has served to improve the efficiency of banks. It has assisted in improving the security of banks. It has even helped improve the manner in which we transfer money around the net.

Learn more about the check routing number system.

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What Is The True Meaning Of Finance

The definition of finance is the provision of funds or loan supplied to an individual or company. Often this term is used for the study of economics and how money is controlled. It can be also defined as the management of funds and capital required by a business and private activities. Management of finance has also developed into a specialized branch within the financial sector and is carried out by finance managers.

Managing this involves dealing with the optimization and allocation of funds to various areas either by borrowing or by using those available from internal resources. The word Optimizing may sound strange but it refers to taking measures that minimize the cost of financing while simultaneously attempting to maximize the profits out of the employed finance. Bad debts are poor finance management where rules have not been followed; the result of this is depressed markets, low production and a cash crisis. It is for this very reason that finance managers are very careful with finance they agree too and where it is funded from.

It is not uncommon to hear finance managers referred to as bean counters as they are looking at immediate returns and initial costs against the potential at a later stage. Finance managers are the pessimists whereas sales managers are the optimists who look to the future and not to the past! Often though, problems occur with small businesses who fail to see the distinction between a business loan and a personal one. Most lenders will cancel the loan if they feel they have been deceived this way because they are unsure what the money is to be invested in.

Hopefully by educating the small (and large) business owners of their fiscal responsibilities they may build the basis of an improved company in the future. Small businesses can be very flexible, however, and call upon friends, other businesses, family members, even their own bank for finance.

Finance managers can help improve their company’s profits by using external sources which also lessens the risk on them at the same time. The famous comedian Bob Hope best summed up the subject when he once said; a bank is a place that will lend you money but only if you can prove that you don’t need it.

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Philippine Banking Industry Outlook Positive Despite Recession

The Philippine banking industry seems to be unaffected by the global financial crisis. And despite the liquidity crunch in various developed and emerging economies, the Philippine banking industry has been able to sustain the growth level.

According to a research analyst at RNCOS, -The banks in Philippines have benefitted from a series of reforms undertaken in past and intervention by the regulator to increase the capital base and to have better risk management strategies in place. The multipoint policy adopted by the industry during the last quarter of 2008 has resulted in minimum risk exposure to the banks in Philippines. Restricting dollar sales only for outward investment, enabling active lending between banks and low level of investments in foreign assets has resulted in positive outlook of the industry in current economic turbulence. Banks in Philippines have limited their investment in local blue chip companies because of the high yield from the Philippine Stock Exchange.-

Banks in Philippines are opting for high degree of penetration, mergers and acquisitions, and high credit growth rate at a time when banks in other developed and emerging economies are writing off assets base and slowing down credit disbursal rate. However, according to -Philippines Banking Sector Analysis-, a research report from RNCOS, the sector will manage to book a CAGR growth of 10% in its asset base through 2010.

-Philippines Banking Sector Analysis- contains comprehensive research and rational analysis on various segments, like assets size, income level and number of cardholders, in the Philippines banking industry. It also analyzes the current performance and growth opportunities in the sector, and helps clients to understand various products available in the market and their future scope. It also discusses the role of technology in the Filipino banking industry.

The report gives future outlook of different aspects of the banking industry such as financial cards, mobile banking, bancassurance, industry assets, mutual fund assets under management, number of credit cards, IT spending by banking industry, microfinance and life insurance product sales etc. The future projections are made after analyzing the current market scenario, past trends and regulations laid by the central bank.

For FREE SAMPLE of this report visit:

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today’s globally competitive environment.

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Entrepreneur Spirit 3

Some people think becoming an entrepreneur is so difficult. They often think that to be an entrepreneur, money is the main factor. Actually, there is something else such as mental preparation that plays an important role.

Some people choose to be entrepreneurs because they do not want to suffer tight competition in the workforce, to have the desire for unlimited earnings, to have the freedom to determine their own destiny, and to be more independent or to have extra satisfaction on their personal achievement.

In the early stages of becoming entrepreneurs, however, people should realize that their income can be less than before, no more company allowances. Not mentioning that they have to work harder and longer hours, with the responsibility of employing their workers.

Moreover, they should cope with critics from their environment about how stupid they are for letting go such a good job with good payments and benefits.

People should have more than one income source, but by being entrepreneurs, they are working for themselves, and they alone will determine how much they want to earn and how.

Tips for new entrepreneurs:
Start with a low working capital, so people can minimize their potential loss that may occur.
The other advantage is to train to survive in the new business with minimum facilities.
Be flexible; entrepreneurs should revise their business concept with current trends and economical conditions.
It is recommended to have a mentor who can share knowledge and give advises on critical points.
Start with your hobbies.
By doing so, hopefully they can cope with the frustration and do not give up when they have to deal with difficulties.
Sometimes it is a good idea to do a completely new business idea that might bring less competitors.

Starting a new business needs capital. It is a safe way to use their own savings, because they do not have to pay interests or risk their assets when taking business loans from a local bank.

Avoiding interests should be considered since it is hard for a new business to gain profits during its first months of operation. It can take their breath away to pay high interests.

For people with a strong network, they can look for partners to cooperate with, so they also can share the capital.

Having a business does not mean that people will earn profits right away. Entrepreneurs should think about getting loyal customers and give them competitive services.

After a business has been developed, entrepreneurs might need employees. it is important to put honesty as the first criteria. It is a fact that honest people become rare nowadays, and you do not want to be cheated by your employees.

Last but not least, entrepreneurs should understand that running a business is a process. There will be some critical moments before they can earn a stable profit.

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Manifest Money By Falling In Love 5 Simple Ways To Love Money

Manifesting money is easy once you’ve fallen in love with it.

Most people do not love their finances, because it’s in a negative state. Fall in love with money. Be clear about the amount of moolah you want to manifest. State it and mean it! It should not be how much you can earn, but how much you want to receive.

Money is magnetic energy. You are a magnet that attracts all things via the signal you emit through your thoughts and feelings. To become a powerful magnet of prosperity, fall in love with money and believe that you have what it takes to attract it.

Why People Hate Money

1. They don’t have enough of it
2. It’s hard to find and make
3. It’s associated as the source of all evil
4. The belief that they can’t be rich
5. The belief that it’s the only source of happiness

Most people are attracted to things they love; the same is true with loot. If you want to manifest riches, the first step is to fall in love with it.

You may be thinking “Isn’t it true most people have very little or no funds at all?” If this is your BS (Belief System) this is the reason, why you haven’t fallen in love with money. You believe it’s not easily available to you.

There are people who mistreat, behave and talk bad about those who have large sums of dough in their possession. In doing so, the Law of Attraction is reversed and works against them causing them to lose out.

There is another group of people who associate this currency with evil. They believe wealth is the source of all evil and thus end up hating it. While there are others who even go to the extent of killing for cash.

How to Fall In Love with Money

1. Be clear about the amount you want to manifest
2. Believe that you have what it takes to attract it
3. Know it’s needed to live a fulfilling life
4. Understand that it’s a good thing
5. Remember there’s an unlimited amount available to you

There are those who say that money is not everything nor is it the only source of happiness. However, it is not possible to accomplish or own anything without currency.

Money is used to accomplish a lot of things both good and bad; therefore it is upon you to decide what you intent to do with it once you have it.

Most people limit themselves as far as how much capital they would like to have. It should not always be about how much you can make but rather how much you want. And there is no limit to what you can achieve as long as you know how to manifest money.

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How To Make Money With Facebook Page – Simple Process Revealed!

There are many ways for your to earn money online. Earning a decent living online is no longer a dream. Some even leverage on social media to earn decent income online. Do you want to know how to make money with Facebook page (also known as Fanpage)?

Read on and I will reveal to you the simple step-by-step process for you on how to make money with Facebook page.

First, create your Fanpage

Creating a Fanpage is the first thing you need to do. If you don’t know how to create a Fanpage, just google for the solution or alternatively you could outsource this and let someone else to create a Fanpage for you. But it is not right to just simply create any Fanpage. To make money with Facebook page, you need to make sure that the Fanpage which you are creating will make you money.

Now, the tricky question is how to ensure that the Fanpage you are creating will make you money?

The answer is very simple. Fanpages that will make you money are those with a “passionate” (or “motivated”) group of fans. When people are “passionate”, they will be more proactive in sharing and spending time on the Fanpage.

Examples of a “passionate” group of people are the niches of tattoo, weight loss, games, niche music, etc.

Second, get a CPA offer

Now, the key to the question on how to make money with Facebook really depends on how well you monetize your Fanpage.

The easiest way to do this is by finding a right click-per-action (CPA) offer and a group of fans who are willing to complete the CPA offer for you.

You can find plenty of CPA offers on clickbank.com. Choose one with a powerful landing page and provide you with useful and sufficient promotional tools.

Insert the CPA offers link on your Fanpage. When your fans click on the offer and if they are a real “passionate” group, chances are high that they’ll complete the CPA offer that you have.

Third, get traffic to your Fanpage

To make money with Facebook page, you need to have “fans” for your Fanpage. There are many ways to promote a Fanpage. You can talk about it in forums, twit about in using tweeter, or promote it among your friends on Facebook.

Or you can try the traditional marketing method known as article marketing. The ultimate answer to the question of “how to make money with Facebook” lies in having traffic and a group of “passionate” fans. Article marketing would be able to get you the right fans who are genuinely interested in what you have to offer on your Fanpage and CPA offers.

There you go, the 3 simple steps on how to make money with Facebook page. You might realize by now that it is not difficult for you to make money with Facebook page. Why not give it a try now?

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Tips On Applying A Savings Account At Pnb Bank Philippines

Philippines National Bank (PNB) is among the largest banks in the Philippines in terms of assets. It is one of the most established bank in the country and included in the Philippine Stock Exchange.

During the American colonial period, PNB was established by the Philippine government on 1916. In 1980, it became the first universal bank in the country.

If you are thinking to apply for a bank account at PNB, you must prepare all the requirements before going to the bank to have a smooth processing of your application. It would be better if you can also apply for online or mobile banking once you applied for a new bank account.

Internet or phone banking is a good service offered by PNB since it will give you access to your account anytime and anywhere as long as there is an Internet connection. You can also pay your bills like utility bills online if you have Internet banking account.

The guide below can give you an idea on how to open a new PNB bank account. You can follow it for quick processing of your application.

1. Choose the PNB branch you would like to apply for a new bank account. It would be better to select the branch near public roads where there are many means of transportation.

2. Bring complete requirements when opening PNB bank account.

3. Prepare your money for initial deposit of your new bank account. Normally, for ATM and passbook account, the initial deposit would be P5,000 and P10,000 respectively. For applying a peso checking account, the minimum initial deposit would be P10,000.

4. Make sure to bring ball pen because sometimes there is no ball pen available at the bank. It is better to be ready than to have none.

5. Proceed directly to the new account desk when you arrived at the bank. Inform the bank officer you would like to open a new savings account. Fill up all forms and signature cards that will be given to you. Make sure you complete all the required data.

6. After finishing filling up all application forms and signature cards, handle to the bank officer you initial deposit, requirements and forms. This process may take 20 minutes or more since it will undergo checking and approval.

7. Normally, ATM or passbook will be available for pick-up to your PNB branch after 5 banking days had passed or you may ask the bank officer when it will be available to be sure.

PNB is one of the best banks in the country if you are considering to apply for a new savings account. If you want quick processing and approval of your application, remember to bring with you all requirements for opening a new bank account.

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Finance A Franchise For Subway

When it comes to buy a Subway Franchise, the first think which clicks in the mind is that how you will go to finance it?. Buying a Franchise or coming in the food chain business involves various things like setting up the restaurant, arranging for the shop fitters to fit out the shop accordingly, kitting it out with all the required catering equipment, fitting all the tables and chairs, and many more. That is the reason people usually look for a financer before buying a Subway Franchise. By having a handsome amount in their hand theyll be able to effectively budget their monthly outgoings through a monthly finance package to operate their business immediately with all the equipment they need.

Own a Subway Franchise only by going through the process of financing, as by doing this you are keeping your available capital in the bank, leaving it available for other important business expenditures. It will provide you liquid flow of cash to run the day-to-day business activities. You cant imagine how easily youll get back your return on investment easier by opting to tailored franchise finance package. It will benefit you by lending maximum money to your bank account each month on your lease agreement.

No one can deny the popularity of Subway, not because their unique chain of restaurants but for the quality they provide with mouth watering sandwiches. There is hardly any need to mention that their high profile advertising campaigns and their ongoing popularity and excellent menus are certainly attracting potential franchisees from all over the world. They all want to open their own Subway franchise and want to take a part in the active race to success. If you think about it you almost get it, enormous flexible finance packages on the market are available. It allows you to build in the franchise fee with all useful equipment that goes into the Subway restaurant.

Fulfill your desire to owe a business related of fast food industry by buying a subway franchise. This is the only platform where food have both moderate as well as healthy flavor

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Financial Support for Filipino Entrepreneurs

Starting up a business usually requires a lot of capital. However, other than its basic capital, there are also other unforeseen expenses involved in starting a business, no matter how small or how big the business is. This is the reason why many business experts and consultants recommend entrepreneurs to prepare for the overhead expenses that they would encounter once they start their own business.

But what if they lack the necessary capital to accommodate their business overhead costs? At this time, financial assistance from loaning firms may prove very useful. This is the reason why BPI had started their own business loan services, such as their Fast cash loan Philippines, which aims to offer Filipinos the chance to start their own business even though they lack the necessary funds for it.

Why Businesses Became a Popular Trend Businesses had become a very popular trend in the Philippines. The number of small businesses, such as food cart businesses had grown massively all over the country. Part of the reason why is because of the continuous growth of new business opportunities, particularly the franchise business industry.

However, other than the growing number of new business opportunities, another reason why businesses became a popular trend is because of the many financial support that the government, as well as the private sectors, offers for Filipino businessmen and women. One of those services is BPIs Ka-Negosyo business loan services.

Benefits of BPIs Loaning Services What are the advantages of business loan services? One of the many advantages of loaning, such as the popular Fast cash loan Philippines service, to start a business is that it allows them to start or establish their business even without the right amount of budget or capital to establish it.

BPIs Ka-Negosyo business loan services offer one of the most reliable ways for Filipinos to get financial support for their business plans or ventures. However, other than supporting Filipinos in establishing a business, BPIs Ka-Negosyo business loan services can also offer fast cash loans Philippines that specializes in providing emergency financial support for businesses.

Other than for establishing businesses, loaning can also serve as a back-up plan for expanding businesses. Expanding a business requires a lot of capital, which is why loaning may be one of the few popular ways to achieve the necessary funding to expand their business without the worry of overhead costs. And due to BPIs Fast cash loan Philippines services, many businesses were given the chance to expand their business and earn more.

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Tips Choosing Your First Business as an Entrepreneur

There is a big misconception regarding first time entrepreneurship and that is the justification that it is okay to fail your first time simply because some well-known entrepreneurs failed and then hit it big.

What is not mentioned is the number of individuals who failed their first time as an entrepreneur and never got a second shot. Therefore, you might as well make it profitable the first time around.

Thus, to ensure higher odds of entrepreneurial success, you must choose the right business.

Here are 4 tips how:

1. Don’t Let the Economy Determine What Business You Should Start

The first thing that entrepreneurs think of when starting a business is our current economic condition. Although it is hard to bypass the thought of a horrid economy and the subsequent effect on your new entrepreneurial venture, it is imperative that you not let the economy sway your decision.

This will especially prove true when the economy turns in the next few years and you are left with an average business that was overly defensive and a lot of regret.

2. Let Google Assist You In Your Choice of Business How do you truly determine market demand for the product and / or services you plan to offer?

One way to do it is to use the Google Keyword Checker. This basic site will tell you how many people are searching monthly for your product or service.

Another key element that the Keyword Checker brings to the table is the use of adjectives.

For instance, you may want to open a business selling blue widgets, but upon looking up how sought after the product is on the web, you find out that green widgets are searched for times as often as blue.

3. You Cannot Avoid Sales, Instead You Must Embrace It and Not Let It Determine Your Business Choice

A willingness to engage in sales separates the men and women from what will be future job seekers.

Entrepreneurs hate sales because for some reason they tend to be more afraid of rejection than your average Corporate Joe or Jane. Why this reason is, I cannot tell you, but to avoid human interaction, entrepreneurs will completely alter the business that they are going into.

What they don’t realize is that regardless of industry, sales is part of business and, thus part of entrepreneurship.

4. K.I.S.S. Keep the concept simple (or, to use the real phrase, Keep It Simple, Stupid). A rule of thumb for first time (and any entrepreneurs) is that if you cannot explain your business in two sentences or less, it’s most likely not going to sell.

It is very rare that people reinvent the wheel with entrepreneurship. As a matter of fact, you can count them on your fingers: Bill Gates, Steve Jobs, Sir Richard Branson and ?

The odds of hitting Pick 6 are better. In entrepreneurship, especially when choosing your first business, go for a base hit, not a home run your first time at bat.