How do remittance transfers function from sender to receiver?

Asked May 5, 2016· 1 answer
Faisal KhanAnswered May 5, 2016
Remittances work just like any other correspondent banking relationship, except with everyone taking a little slice of the pie.

Here are three detailed answers that will help you understand how remittances (cross-border money transfer) works:

  • Faisal Khan's answer to How does a remittance money transfer work? What are all the steps and who is involved?
  • Faisal Khan's answer to How does international remittance work in detail, e.g. sending money from the U.S. to a European country?
  • Faisal Khan's answer to What exactly happens when money is sent via Western Union versus a company like XOOM? What is the difference?
Money TransferSending Money Abroad (Consumer)Outward RemittancesReceiving Money from Abroad (Consumer)
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