interbank transfer

All interbank transfers, even those within the same country, will be in euros.

Interbank transfers must be communicated and arranged through automation by a set time each business day.

There are several systems for clearing interbank transfers.

Interbank transfer - your customer pays directly into a bank account that you nominate.

Within the euro-zone, all interbank transfers and securities trades are already carried out in euros.

An interbank transfer, the hard way.

Interbank transfers can take up to a month inside Russia and three months from former Soviet republics, while inflation eats profits.

Banks are required to let their customers keep their accounts in either euros or the local currency, and all interbank transfers will be cleared in euros.

TARGET2 is used for the settlement of central bank operations, large-value Euro interbank transfers as well as other euro payments.

As early as 1200 interbank transfers were common in Italy, and by mid-century Italian merchants at the Champagne fairs paid for their purchases by such transfers.

Experts say most will be able to execute essential functions, like interbank transfers, but may not be prepared to offer customers extra services, like dual currency statements or other euro-denominated services.

Its SWIFT code is CITIKRSX while South Korean interbank transfer code is that of old KorAm Banks', which is 027.

When the Fed completes the consolidation of its $1.4 trillion-a-day national interbank transfer system, Fedwire, in March 1998, the area's national presence will rise further still, enough to rival New York City for the first time in the volume of money moved.

In the United States, the Automated Clearing House (ACH), regulated by NACHA-The Electronic Payments Association and the Federal Reserve Bank, handles all interbank transfers, including direct deposit and direct debit.