Questions and Answers
Wat is een uitdaging bij internationale betalingen?
Het gebruik van NOSTRO-VOSTRO rekeningen
Welk financieel systeem wordt momenteel gebruikt en waarom kan het traag zijn?
SWIFT, vanwege anti-fraude en anti-witwas controles
Welke bank heeft een NOSTRO-rekening bij de Bank of America?
ING
Study Notes
- Crypto and blockchain technology go beyond just being an alternative payment method.
- The current financial system operates on an outdated SWIFT system.
- Payments via SWIFT are not always executed instantly due to anti-fraud and anti-money laundering checks.
- International payments face challenges due to currency conversions and the use of NOSTRO-VOSTRO accounts.
- NOSTRO accounts are owned by one bank, while VOSTRO accounts are owned by another bank.
- Banks use NOSTRO-VOSTRO accounts to facilitate international payments.
- The ING has a NOSTRO account with the Bank of America for holding dollars.
- The Bank of America has a VOSTRO account with the ING for holding euros.
- International payments involve multiple banks in different countries, making the process complex.
- Small banks rely on large banks to facilitate international payments.
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