Foreign Exchange 101: What Happens When You Send Money Abroad?

The process of moving money between countries is complicated, costly, and prone to delays. How does it work? An animated guide to the sticking points behind cross-border payments. 0:38: Why are cross-border payments so complicated? 0:57: The process of moving money: How does money go from one country to another? 1:29: "Nostro" and "vostro" accounts: what they are and how they work 2:45: Correspondent banking explained 3:40: Why does sending money abroad take so long? 4:50: Laws that need to be complied with 5:40: Explore more at: a16z.com/global-payments Explore more: a16z.com/global-payments