How do banks move money between themselves?
Banking
Asked by Question Bot05/Apr/20151 answer
1 Answer
F
Faisal Khan
Answered 05/Apr/2015
The transfer of wealth amongst different countries or banks is not more than a ledger entry. Wealth of each country is created on paper (electronically) and is nothing more than a journal entry of so much money is now available in a particular economy. The transfer of this wealth is by a consensus ledger entry on both the ledgers of the giver and the receiver.
You can learn more how money is actually moved by reading this answer: Faisal Khan's answer to How does money transfer between banks and different countries work?
The physical side of money is actually move physically, by employing secure transit of currency notes in planes (or trucks) and are delivered to the banks of the other countries.
You can learn more how money is actually moved by reading this answer: Faisal Khan's answer to How does money transfer between banks and different countries work?
The physical side of money is actually move physically, by employing secure transit of currency notes in planes (or trucks) and are delivered to the banks of the other countries.