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

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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: Explore more: