Monday, June 13, 2022

Banking transactions terms in banking domain

 Banking transactions terms in banking domain

1. SEPA (Simplifying European Payment, IBAN is required for this).

2. SWIFT (International transfer)

3. BACS (A long-established UK Payment system Bacs stands for Banker’s Automated Clearing Services)

4. CHAPS (Clearing House Automated Payment System) - Same day UK payment (People usually use this for 10000+ British Pound transfer).



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