The country in which the bank account to which an EFT is sent is held.

A unique nine-digit identification number assigned to financial institutions within the United States by the ABA. The first four digits are the federal reserve routing symbol, the next four are the AB [..]

An intermediary or person hired to carry out a transaction on behalf of another person or entity.

An increase in the value of a currency.

The first currency in a currency pair. The value of the base currency is set at 1 in a quote and the price at which the two currencies can be exchanged is reflected in the quote currency. For example, [..]

One hundredth of a percentage point; 1bp = 0.01% = 0.0001. A basis point is a common unit of measurement in FX rates and interest rates. Often referred to simply a point.

An account held at a bank that a customer may use to manage their money. The account can be used to hold customer deposits as well as allow them to make payments. Other forms of accounts are held with [..]

The party receiving a money transfer. Also known as the recipient.

Refers to the first number to the left of the decimal point in an exchange rate quote, which changes so infrequently that FX providers often omit them in quotes. XE.com always includes the entire numb [..]

The exchange rate at which a foreign exchange provider will buy a currency from you. Also known as the buy rate. For a customer, a higher bid rate is preferable since it means you will receive more fo [..]