Money Transfer Services is an industry which is comprised primarily of third party check processors, debit card issuers and foreign exchange companies. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions.

Money transfer generally refers to one of the following cashless modes of payment or payment systems:

• Electronic funds transfer or EFT: An umbrella term mostly used for bank card- based payments

• Email Money Transfer: An online banking transfer between Canadian banks

• Giro: Also known as direct deposit is a banking term for a method of payment.

• Wire Transfer: An international expedited bank-to-bank funds transfer;

The Primary transfer system for the Money Transfer Industry is SWIFT.

Private Swiss Trust Companies may apply for (and have previously successfully gained) membership to SWIFT.


Posted in: Miscellaneous, Swiss Trust Company, Uncategorized on August 18, 2010

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