international payments

IBAN, short for International Bank Account Number, is an alphanumeric code that helps financial institutions identify the correct recipient of a payment. Although each country may have its own specific format for IBANs, they must comply with...

Historically, international payments were always time-consuming and arduous. Only about two decades ago, making a cross-border payment would require you to go to your local bank and fill up a transfer form manually. In addition, these global payments always came with a hefty fee, be it ...

The global banking system relies on intermediaries to facilitate payments when the sender’s bank does not have an established relationship with the beneficiary’s bank.

According to the World Bank, global remittances reached a record high of USD $630 billion in 2022. These remittances were sent through money transfer operators, which included wire transfers and telegraphic transfers.

Remittance is the cross-border transfer of funds from one entity to another. The term remittance is derived from its root word of remit, which means to “send back”.

In a perfect world, everyday items like an apple or a set of utensils should have the same price, regardless of your location. This concept is known as the law of one price (LOOP) — one item, one price, despite the currency exchange. But, the reality is that a currency conversion

A multi-currency account is a type of account that allows you to send, receive, and hold multiple currencies. Here is everything you need to know about a multi-currency account.

The globalisation of markets is one of the most fascinating developments in this era. It’s open the doors for businesses to transact and partner with foreign suppliers, hire foreign talents and target entirely new markets.

The Renminbi has two types of currencies: CNH and CNY. Read on more to find out about this unique currency.