What types of money exist?

The most important function of money is that it can be used as a means of exchange. However, in modern societies, money also serves as a store of value and as a unit of common account, since the economy measures the value of things in money. But is all money the same? The answer is no: you have to differentiate between legal money and bank money.

The legal money, constituted by the bills and coins issued by a competent institution, is the one that circulates through an economy. Currently, Spain is one of the countries of the European Union (EU) integrated into the so-called eurozone, that is, they have adopted the euro as currency, so the agency in charge of issuing and controlling the amount of money in circulation It is the European Central Bank (ECB), chaired by Mario Draghi.

Meanwhile, bank money is what is recorded in different types of support but that somehow exists only because “it is in the bank”. Obviously, when we deposit legal money in a bank, it disappears physically and is born as bank money, that is, it ceases to be effective.

There are many types of bank money. Banks, as private companies that are, try to capture the savings of families to channel it for other purposes, and in this sense offer different products or financial assets that seek to adapt to the needs or characteristics of their customers. The most important are the following:

  • Demand deposits or savings. Although these two types of deposits were different years ago in terms of availability and interest rate, today it is difficult to differentiate between a current account and a book. In general, both deposits allow their holders to have money immediately, either in cash or by using checks or cards.
  • Time deposits. Are those whose owner, in exchange for a remuneration, agrees to keep them for a specified period so that they can not dispose of them without incurring a penalty. Within the banking sphere, this type of deposit is the most popular for bank customers.

At the macroeconomic level, for a better study of the money supply, that is, the amount of money circulating in an economy, monetary aggregates are established according to their liquidity. Their definitions, which depend on the types of money they comprise, are the following:

M1 = Cash in the hands of the public + Demand deposits

M2 = M1 + Savings deposits

M3 = M2 + Time deposits

ALP (Liquid Assets held by the Public) = M3 + OAL (Other Liquid Assets)

Finally, we should mention a type of special money that has emerged in recent years. We refer to crypto money, among which bitcoin is the best known. It is a type of money based on mathematical algorithms and that is not backed by a central bank.

Fast and urgent online credits for companies. Useful guide

With the arrival of the crisis, the proliferation of requests for fast online credits skyrocketed. This is how the credit market began to grow, especially online credit, as the need for liquidity, both for families and for companies, became indispensable.

In the case of families, the main reason for requesting this type of fast online credits arose from the delay in the collection of payroll, salary restrictions, etc. causing that need for cash to generate the need for urgent credit.

On the part of the companies, what happened was the delay in the collection of invoices, an increase of collection terms, and the well-known delay in the collection of invoices for public entities (up to 6 months).

In addition, with the rise of the Internet, more and faster online credit or private credit institutions began to appear, directed at individuals, with very attractive conditions at first, whose owners still say: “the first 300 euros for free “; but with totally inflexible non-payment conditions. Conversely, fast online credit entities for companies do not have this type of conditions, so it is very important to differentiate between these two types of personal and business online loans. To know how to differentiate them, we are going to carry out a comparative analysis of the two types of online credit that can be found in the market: for individuals and for companies.

 

Fast online credits: general modalities

But first of all, we are going to see the main types of fast online credits that we can find in the Spanish financial market:

Easy and immediate online quick credits

Easy and immediate online quick credits

Quick easy and immediate online credits are credits offered by most web platforms for financing for individuals. We has very simple application mechanisms, and the requested documentation is usually fast and easy to find, without the need for very high economic knowledge. In addition, the money is usually received within a few minutes of requesting the loan, as long as the data is correct and there are no incidents.

Urgent online credit

Urgent online credit

This type of online urgent loans is very similar to the previous one, but it usually requires having regular income on a regular basis. They are usually granted in order to meet unexpected financing needs.

Fast credits online 24 hours

Fast credits online 24 hours

The fast 24-hour online credits are, unlike the previous ones, credits that are granted to individuals in a maximum of 24 hours. Therefore, they acquire the condition of urgent credit due to the short period of concession. The average amount requested is usually around € 700, they are very easy to apply for and they even grant them with ASNEF.

Quick credits online without papers

Fast online credits without papers are a type of quick grant credits that are mainly characterized by having to deliver the documentation strictly necessary for it. This type of fast online credits breaks with the high bureaucratization suffered by the most traditional financing entities.

Quick loans online without a payroll

Quick loans online without a payroll

Fast online credits, usually have as an indispensable condition for granting the possession of an indefinite employment contract, which presumes economic stability in the future. In contrast, this type of fast online loans without payroll is granted to the applicant without having to have an indefinite contract. In spite of this, they usually request to have a fairly stable source of income, but not necessarily a payroll. They could request, among others: scholarships, pensions, unemployment benefits, billing of a self-employed person, etc.

Quick loans online with ASNEF

 

This type of urgent loans is characterized, mainly, by granting loans to people included in ASNEF. Although it is true that they allow the granting of credits with ASNEF, they usually demand the possession of a stable source of income.

Microcredits or quick mini-credits online

The fast microcredits online are a fast online credit modality that consists of the request by the individual of online credits of small amounts. The average amounts of this type of fast online loans are usually set at around € 600, and funding entities usually establish a minimum number of days around 60 days.

Fast online credits with the car’s endorsement

Fast online credits with the car

Some fast online credit entities can request for the granting of this type of fast online credits the personal endorsement of the client with his car. This is the main characteristic of these credits.

 

Fast vs. urgent personal online credits for companies: Comparative

Interests of the fast credits online

 

Image result for fast online creditAs we have already pointed out at the beginning of this post, and as is already known, the main and most important risk of this type of fast or urgent online credits, also known as fast money, is the high-interest rates of delay to which you have to pay. face the individuals who are not able to return the requested credit.

This is something that does not happen in the case of loans for companies, which are granted through alternative financing platforms such as crowdlending, which grant loans between individuals.

Purpose of online quick loans

Purpose of online quick loans

They also differ in that fast or urgent online credits for individuals do not need to express the reason for which they are requested, and in contrast, when a fast online credit is requested for companies, it is essential to know the reasons and purpose of the requested amount.

Generally, this happens because the amount requested is much higher in the case of online credits for companies than for individuals. The first has, in general, a minimum of € 3,000, while private individuals have a maximum of € 1,000.

Fast online credits: term

The term of return of the fast credits online also varies depending on the applicant. In the case of individuals usually have a minimum of 60 days established, or what is the same, 2 months. In contrast, in the case of companies, the average time in the return period for online quick loans is approximately 18 months.

Fast online credits: waiting time

The last of the main differences between one and other fast or urgent online credits is the term for the loan. In the case of personal loans it is totally instantaneous: in 15 minutes you can get your credit online.

On the other hand, in the case of urgent online credits to companies, the waiting time for the granting of the loan will be approximately 48 hours from the moment in which the financial company receives all the pertinent documentation.

 

The need for companies to get credit online urgently

The need for liquidity in Spanish companies leads to the obligation to request online financing through platforms such as ours, obtaining loans through crowdlending.

On the one hand, many companies face a lack of liquidity for three reasons:

  • The fall in demand, after the crisis, has been the main cause of lack of liquidity for many Spanish and European companies. This has given them the need to seek financing for working capital in order to continue with the business.
  • Non-payment is another of the fundamental causes of the lack of liquidity in companies, especially in the case of Spain. Both private clients and public entities have delayed payment to their suppliers for up to 6 months, which has forced companies to seek financing of working capital in order to continue working.
  • Poor financial planning can also be a reason for lack of liquidity in companies. Until this poor planning is solved, companies will have to face their short-term payments, getting fast online credits to face them.

On the other hand, the difficulty of obtaining credits through traditional banking has made possible the proliferation of Fintech companies that combine financing with technology, thus creating alternative financing platforms for companies through the Internet, such as MytripleA.

Online credits for companies with MytripleA

MytripleA is a Fintech platform dedicated to granting P2P Lending loans to individuals and companies. That is, individuals, lend their money to companies that request financing through the online platform.

The main characteristics of fast online credits with MytripleA are:

  • The possibility of making the online credit request in 2 minutes
  • Analysis of the project in approximately 48 hours
  • Delivery of the requested money in a maximum of 5 days after the publication of the loan in our Marketplace
  • The minimum credit of € 3,000 and a maximum of € 300,000
  • Flexible return period: generally between 6 months and 2 years
  • Does not consume CIRBE

 

Welcome

William V. Black
Most of us, swimming against the tides of trouble the world knows nothing about, need only a bit of praise or encouragement – and we will make the goal. Jerome Fleishman

The Chamber Music Society of Lower Basin Street is a musical variety radio program which began on the Blue Network in 1940. The magazine Radio Life described it as “one of radio’s strangest offsprings… a wacky, strictly hep tongue-in-cheek burlesque of opera and symphony.” It was a weekly half-hour of jazz, played by leading practitioners of the day. The format was a dry satire of the stuffy symphonic and operatic broadcasts announced by the dignified Milton Cross.
The Basin Street opening, intoned by announcer Jack McCarthy, usually went along these lines…..

Greetings, music lovers, and that includes you too, Toots. Once again you are tuned in on a concert by the no doubt world-renowned Chamber Music Society of Lower Basin Street, whose members have consecrated their lives to the preservation of the music of the Three Bs: Barrelhouse, Boogie-Woogie, and the Blues. Present with us on this solemn occasion: Mademoiselle Dinah (Diva) Shore, who starts fires by rubbing two notes together; Maestro Paul Laval and his ten termite-proof woodwinds; Dr. Gino Hamilton, as our chairman and intermission commentator; and Dr. Henry Levine, with his Dixieland Little Symphony of eight men.

The society’s low-key chairman, the witty Gene Hamilton (always introduced as “Dr. Gino Hamilton”), would then call the meeting to order, peppering his formal speech with slang: “There are those critics of the saxophone who say it is merely an unfortunate cross between a lovesick oboe and a slap-happy clarinet. To those critics, we must say, ‘Kindly step outside with us a moment’ and ‘Is there a doctor in the house?’” These off-center comments were actually scripted by Welbourn Kelley, but Hamilton’s deadpan deliveries often made the musicians laugh out loud. The program then delivered 30 minutes of blues and hot jazz, with Dr. Gino stepping in between numbers to deliver such comments as, “A Bostonian looks like he’s smelling something. A New Yorker looks like he’s found it.”

Two resident bands provided the music. Henry Levine and His Dixieland Octet offered traditional “readings” of jazz standards such as “Farewell Blues,” “St. Louis Blues,” and “When My Sugar Walks Down the Street.” Trumpeter Levine (born Harry Lewis in London, England in 1907), a former member of the Original Dixieland Jazz Band, was quite familiar with these arrangements. Paul Laval and His Woodwindy Ten (which included some of Levine’s personnel) played the same type of music on more symphonic instruments, demonstrating that such instruments as oboe, bassoon, and Celeste were equally capable of producing hot jazz. In 1943 maestro Laval (born Joseph Usifer in Beacon, New York in 1908) changed his surname to “Lavalle” to avoid association with then-notorious war criminal Pierre Laval.