Faisal KhanAnswered Aug 4, 2015It is possible. Certain banks allow this (for example HSBC Premier Banking allows this and in certain geographic regions Deutsche Bank and Citi also provide this service).
As Jerry D Chan cited, NOSTRO accounts are used. In the event when it is not allowed, it is because financial regulator in one both markets may prohibit this, or a direct arrangement may not be allowed, even via a correspondent bank.
As Jerry D Chan cited, NOSTRO accounts are used. In the event when it is not allowed, it is because financial regulator in one both markets may prohibit this, or a direct arrangement may not be allowed, even via a correspondent bank.