For example when a country pays its dues to the UN or IMF or when a company buys over another company for a large sum. Do they just simply ‘wire’ the funds or bank transfer?
In: Economics
Typically financial organisations use CHAPS, BACS or Swift in the UK.
The Bank of England also uses £1 million and £100 million notes (giants and titans) when dealing with the Scottish/Irish banks who are allowed to print their own currency.
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