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How does a remittance money transfer work? What are all the steps and who is involved?

/ Payments, Remittances / By Shahid Sharif

Answer by Faisal Khan:

Here is a detailed explanation of the steps that outline both the regular remittance model and the pre-pay remittance model. The slides below describe in detail what happens during a transfer, flow of money and who makes what during the transaction.

View Answer on Quora

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