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For someone who is new to transferring money across borders, this may seem like a challenge at first. International transactions have many complexities, unlike local transactions. Cross-border transactions generally require the communication of two or more financial institutions with different systems and procedures. All of them charge some sort of fee that the initiator of the transfer has to pay. Currency conversion is almost always required, which creates the need to know the current exchange rates. Intermediaries and even your trusted bank can sometimes seem to try to scam you on the exchange rate or fees. However, sending money abroad does not have to look like a minefield. Meeting a few simple criteria can make your transfers almost effortless. Goals and means People generally don't initiate money transfers in a frivolous way. You would have a very good reason to send money abroad. Depending on the reason, you will know how much you need to send and when. Like most other actions, an international transfer is initiated with the end goal in mind. For example, if the requirement is to pay for the higher education of a young family member, your goal will be a specific amount (semester fees) and a specific schedule (deadline). Based on the exchange rate, you would calculate the amount you need in your local currency. You must then add the amount that your bank or other services would charge and arrive at a total. Determine the duration of the transfer (say, four days). Count down from there and you will have your date sent. Easy! The cost of convenience Common online channels for international wire transfers are banks, card payments and independent money transfer services. There are usually several channels for medium and regular transfers, each with advantages and disadvantages. Fewer channels are available for very large or urgent transfers. The choice of channel largely depends on the requirement. For example, suppose you live abroad and send money to pay

"Social networking on 'Beehive' improves employee communication, starting with custom profiles and photos of the grandkids" Wondering if IBM would open Beehive to customers, partners, fans one day ...

"SAP recently announced a new set of Social Media Participation Guidelines and an internal forum to help employees make the most of new social media channels such as Blogs, Twitter, LinkedIn, and YouTube. In the spirit of Web 2.0, and like other organizations such as Intel and IBM, we would like to share our guidelines with the community."