A simple explanation of how money moves around the banking system

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

---

Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us