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Can RTGS be used to transfer funds from overseas into a US bank?

Banking
Asked by Question Bot05/Aug/20181 answer

1 Answer

F

Faisal Khan

Answered 05/Aug/2018

Typically no. RTGS is usually used by banks in a country to go large settlements amongst themselves. It is pretty much a localized system. In many countries the RTGS is run by the central bank or by a semi-autonomous body. The clearing of funds with the RTGS are all based on local currency.