Money management

Sol Provider Management helps people to choose financial service providers. I focus today on transferring money. While such services have been improving, people don’t like e.g. these things:

• There have been many communication issues.
• One cannot deposit money with all providers.
• Some providers don’t serve companies.
• Some who do ask that a company representative create a separate account for that company.
• Shouldn’t the fee schedule be simpler?
• Some charge an inactivity fee.
• Some services are still rather expensive.
• Some focus on exchanging currencies.
• Some services are available only on Android and iOS.
• Some say that banks charge one more and don’t inform one clearly about what they’re going to charge, but they operate through banks.

What are the benefits you want from a money manager, a company that holds your money, sends your money to whom you want, and receives money for you?

I note here some things that Sol Financial Services already offer.

• We try to maintain a high quality of communication, so that we help you achieve what you want.
• You can deposit money with us.
• We can enable any representative of any company to do any operations their teams allow them.
• We include all services in one low fee.
• We can exchange any currencies.
• We don’t bad-mouth banks.

How to use an account with Sol Financial Services (SFS)

1. You let me know and we conclude a service agreement.

2. SFS opens an account for you.

3. You can transfer your money to SFS.

We agree on a method of transfer. For instance, we provide a payment link and you transfer money using a money card.

Unlike other providers, SFS don’t “invest” our money; with Sol, we don’t risk our money. We can always take back from Sol any amount we own.

4. Before we receive other money, we suggest to the payer that they take step 1, too.

Some possible benefits for you:

• Is our USD 0 fee for receiving money lower than the fee of your current provider?
• We are probable to make the money available to you more quickly than other providers.
• Is our USD 0 fee for notifying you of receiving money lower than the fee of your current provider?
• The payer can share with you their planned balance. This can help you negotiate a shorter payment deadline.
• You can schedule payments. This can help you manage subscriptions.
• You can save time by redirecting money.

5. Before we make a transfer, we suggest to the payee that they take step 1, too.

We also suggest using a single currency globally. We’ve designed it and we can help you switch to it and stop exchanging money.

This service is meant to help you live without cash. You can communicate with us and transfer money over the Internet.

We use a part of the profit to help you prepare for the time when humanity must use cash again.

data management program

You have a say in everything we do for you, e.g. in how we design the program for managing your money.

We suggest such features:

• User 1 tasks user 2 to provide something. You agree on what user 1 pays user 2. Our program helps you place orders and conclude agreements.

User 1 can press a button e.g. on the order page to open a form in which the program fills the payee data and the entire order amount. When you select the amount field, a list of instalments opens when users have agreed on payment in instalments. You cannot change the order in which you pay the instalments, but you can make any payment in advance. After you select at least one amount, you can press a button to make the transfer. The program logs the transfer, updates the balance of user 2, and notifies them.

• You have one account for all currencies. The account number is the 12-digit number we assign to you as a user.

The program updates the balance in the transferred currency. You can set the rule that we exchange incoming money into a certain currency immediately.

When you know a person’s user number, you can communicate with them and pay them.

• You can redirect money.

Example: User 1 transfers an amount to user 2. User 2 is actually a group of users, in this case an organisation. Its members have agreed to split their income. We help you set up rules according to your agreement. When an amount reaches the account of user 2, our program splits the amount and makes the transfers set by you.

You can set the order of automatic transfers.

• You can schedule transfers. Example: You press a button to ask to subscribe to a service. Our program shows the approximate amount in your favorite currency which you’ll pay automatically and when we’ll transfer it. (This amount varies with the exchange rate.) You can change the currency in which you pay for this service. You press a button to start paying. We help your provider configure subscribing and cancelling according to the terms on which you two agree.
• We solve this issue: Many people have been charged without their consent. In many cases, the provider has not reimbursed their customers. You start / stop series of payments when you please, and you can set reminders. You don’t share your “card” details; isn’t it time we stopped using “money cards”?
• You will be able to buy from many Web stores according to the terms on which you agree, e.g. you pay when you order or upon receiving the deliverables.
• You can view in a calendar how much money you should have on a certain day, based on your current agreements, e.g. a customer / employer must pay you USD 2,000 by 20 September and you must pay a provider USD 500 by 25 September. If we consider only these 2 transactions, the program will show that on 25 September you could avail of USD 1,500 more than today.
• You can see your balance and transactions, e.g. in charts. You can analyse correlations among money, services, regions etc.
• You can prevent yourself from spending a certain amount for a time chosen by you.
• You can set aside some of your money (in escrow) according to the terms on which you agree with a provider of yours.
• You can have Sol inform a provider quickly that you have a certain amount of money, which you’d transfer to them when you place the next order.

I express here our intention to make money management easier. Please use this willingness to discuss what other features would help you.

making decisions

As all Sol services, Sol Financial Services are owned by their clients. We want to charge everybody the same fee and give every client the same right to participate in making decisions.

price

We can shorten our fee schedule to 1 item: a percentage of the money you’ll have us transfer.

Every money manager spends money when they:

• receive money from a client;
• hold that money;
• transfer that money;
• exchange / trade that money.

Example:

You want to transfer USD 100 to another user of Sol Financial Services. We move USD 100 from your account to their account and USD 2 to our account from either your account or their account, depending on what you agree. You can also split the fee as you please.

If that user requests money in a currency different from that in which you want to transfer it, we use your money to buy that amount at a good rate, then we move that amount to their account. When we spend USD 100 on that amount, we move USD 2 from your account to ours.

Our fee must cover all the expenses we make in order to serve you today and for many years to come. We will discuss with you in public continuously the design of our service, so that we optimise it using a part of the profit.

According to our knowledge, this is a unique service. Who else is offering a service that is at least as beneficial?

We’ll discuss with every person their goals. Let’s say that a person will spend USD 200,000 during the next 10 years! If they use the net amount of USD 196,000 and reward us with USD 4,000 for 10 years of excellent money management, do you feel that they make a good deal?

How much money do you think you will transfer during the next years?

What benefits do you want as a sender / receiver of money and at what price would you order them?

We open promptly accounts for those who already want this service.