Digital Nomads and Remote Work – Interactive Map by KPMG

KPMG has created an interactive overview to help navigating the immigration challenges: The Digital Nomad and Remote Work Visa Options (interactive map). 

The overview, on 72 pages for 36 countries, is sorted by region and country and is being updated regularly. It covers topics like Visa category, fees, Visa duration, standard requirements as well as tax and social security implications.

Explore the KPMFG digital Nomad Remote Work Tracker Map – PDF on 72 pages 36 countries

What is EBICS – a Boring or Useful Reading?

We read an interesting overview of EBICS, which the author on SEPA for Corporates calls “the most boring article on EBICS” – we’ll let you decide for yourselves. Here is the brief on these topics:

1. EBICS is the Electronic Banking Internet Communication Standard and is widely used in Germany;
2. EBICS History:
   – 2003 EBICS deployments start in Germany;
   – 2008 EBICS is mandatory for banks in Germany;
   – 2011 French banks are required to complete their standard to EBICS;
   – 2015 Switzerland joins EBICS;
   – 2020 Austria joins EBICS;
3. EBICS is a solution that offers a single, common, and open standard for corporates to connect with ALL of their banks in Austria, France, Germany, and Switzerland;
4. How is EBICS set up? Your bank guides and supports you with your EBICS implementation;
5. What File Formats does EBICS Support? SWIFT MT messages (MT101 and MT940) and ISO20022 XML.

Source SEPA for Corporates

Sometimes I am lazy when reading foreign language texts then I simply copy paste the text into deepl.com it is so perfect and easy to read.

Projection: The U.S. Dollar Will Be Replaced in International Trade

One of the claims made in the Time article Shock Events to the World That Are Already in Sight is that “the U.S. dollar is going to be replaced in international trade”.

Although it is unlikely that the dollar will be replaced as the global reserve currency, its importance in international trade is clearly under attack.

Maha Hosain Aziz, author of the report, explains: Prior to the COVID-19 pandemic, there were repeated discussions about a new currency proposed by the intergovernmental organization BRICS and calls from China to use its own currency for more trade. But the response has been limited.

In the post-pandemic world, this sentiment has resurfaced with a vengeance. The article lists several countries that have already moved away from the dollar, as well as specific industries that are looking beyond the dollar.

Details in Time

Status Instant Real Time Payment Schweiz und USA

Im November 2022 berichteten wir in Tomato News, dass in der EU die Instant Zahlungen zum Standard werden sollen. Seit einem Jahr ist es stiller geworden, bzw. wir von Tomato erfuhren keine Neuigkeiten.

In den USA beteiligen sich seit Juli 2023 circa 35 Banken am Instant Zahlungsverkehr, was in den USA als FedNow bekannt wird.

Please continue to read here in English on the Federal Reserve Site: 

This page lists participating financial institutions that are currently live on the service, as well as financial institutions serving as settlement and liquidity providers. Financial institutions that have completed testing and certification will be added to the list once they are live on the service.

Benötigen wir im Treasury Instant Zahlungen? Wird Instant Zahlungsverkehr Einzug halten, wenn wir saubere, gut vorbereitete (SAP F110 xml)-Prozesse verwirklicht haben?

Des Lesers Meinung interessiert uns: Ihre E-Mail an Martin Schneider ist erwünscht.

Wir als Tomato AG dienen einem Kunden, der über seinen Webshop viele Vorteile hätte, wäre Instant-ZV schon Realität. Vor allem ist Abend – und Wochenende – ZV mehr als nur ein Wunsch.

In der Schweiz ist weiterhin geplant, ab August 24 Instant Zahlungen für die grossen Schweizer Banken einzuführen. Die kleineren Banken dürfen eigenständig entscheiden, wer Instant ZV anbieten möchte.

Details lesen Sie bei SIX

Quitting Early on Fridays and not Feeling Guilty

Have you ever considered leaving work earlier on Fridays? 

The article from WSJ suggests a solution for how you can do this with great results and without feeling guilty. The article requires subscription; feel free to ask the article at Tomato.

To start, put in some extra effort to gain confidence. From Monday through Thursday, take care of the most crucial tasks on your to-do list, then let your team know you’ll be offline Friday to do some big-picture thinking. Spend two hours doing that on Friday morning and write down your thoughts so you can email your manager on Monday. The key is “ditch the guilt.” Once the crucial tasks tasks are accomplished, give yourself permission to close that computer and leave. 

How does this plan sound? Would you try it?