correspondent banking

Flow of Funds for Correspondent Accounts (for Remittance as a Service) – USA Only

A very quick flow of funds diagram on how remittance as a service works from the US. The PS here is the PLH (Principal License Holder). Key: PSP = Principal License Holder (the entity with the money transmitter licenses) [1] Customer signs up using a Correspondent White-labelled Website [2] All Client Registration, AML, KYC, etc. …

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Foreign Correspondent Banking – Regulators Encourage U.S. Banks to Keep Doing It, But Their Regulations Have Been Discouraging – Lexology

Foreign Correspondent Banking: The three dreaded words that hang like the Damocles Sword on every foreign bank wanting to trade with the United States for US Dollar clearing & settlement. This is a great article that highlights the issues surrounding the shrinking supply of foreign correspondent banks. In addition to this article, I would also highly …

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