A simple explanation of how money moves around the banking system

| banking, business

A simple explanation of how money moves around the banking system | eklectica.in
We talk about NEFT, and SWIFT and Wire Transfer, and… But almost nobody actually understands how payment systems work. That is: if you “wire” funds to a supplier or “make a payment” to a friend, how does the money get from your account to theirs?

This article attempts to give a simple explanation of how money moves around the banking system.

Source: A simple explanation of how money moves around the banking system | Richard Gendal Brown

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