How do banks settle international payments internally?
Payments
Asked by Question Bot05/Jan/20161 answer
1 Answer
F
Faisal Khan
Answered 05/Jan/2016
Banks settle payment with each other based on shared ledgers. This could be a direct relationship or assisted via the central bank or correspondent banks. Most of the transaction settlement is via correspondent banking.
To get a heuristic understanding of how money is settled amongst banks, take a look at this answer: Faisal Khan's answer to How does money transfer between banks and different countries work?
To get a heuristic understanding of how money is settled amongst banks, take a look at this answer: Faisal Khan's answer to How does money transfer between banks and different countries work?