Web Results
Content Results
  • Money transfer

    serch.it?q=Money-transfer

    Money transfer generally refers to one of the following cashless modes of payment or payment systems: Electronic funds transfer, an umbrella term mostly used for bank card-based payments Wire transfer, an international expedited bank-to-bank funds transfer Giro, also known as direct deposit Money order, transfer by postal cheque, money gram or othersIt can also refer to the following cash-based wire transfer systems: al-Barakat, an informal money transfer system originating in the Arab world Hawala (also known as hundi), an informal system primarily used to send money to and from the Middle East, North Africa, the Horn of Africa, and India, Pakistan, Bangladesh and Nepal Remittance, a transfer of money by a foreign worker to his or her home country Currency exchange, transfer for of one currency to another

  • Hawala

    serch.it?q=Hawala

    'Hawala or hewala ( , meaning transfer or sometimes trust), also known as ' in Persian, or hundi ( ) in Hindi or—in Somali, ' or '—is a popular and informal value transfer system based not on the movement of cash, or on telegraph or computer network wire transfers between banks, but instead on the performance and honour of a huge network of money brokers (known as hawaladars). While hawaladars are spread throughout the world, they are primarily located in the Middle East, North Africa, the Horn of Africa, and the Indian subcontinent, operating outside of, or parallel to, traditional banking, financial channels, and remittance systems. Hawala follows Islamic traditions but its use is not limited to Muslims.

  • Wire transfer

    serch.it?q=Wire-transfer

    Wire transfer, bank transfer or credit transfer is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account or through a transfer of cash at a cash office. Different wire transfer systems and operators provide a variety of options relative to the immediacy and finality of settlement and the cost, value, and volume of transactions. Central bank wire transfer systems, such as the Federal Reserve's FedWire system in the United States, are more likely to be real-time gross settlement (RTGS) systems. RTGS systems provide the quickest availability of funds because they provide immediate "real-time" and final "irrevocable" settlement by posting the gross (complete) entry against electronic accounts of the wire transfer system operator. Other systems such as Clearing House Interbank Payments System (CHIPS) provide net settlement on a periodic basis. More immediate settlement systems tend to process higher monetary value time-critical transactions, have higher transaction costs, and have a smaller volume of payments.

Map Box 1