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I think you might mean SWIFT (wordlwide) or SEPA (euro area + other EU).

Forex typically means buying or selling currencies, not transferring money between parties.




It's a moot point, but forex's are also used to move money internationally. It is ultimately buying and selling currencies, but you get much better rates than through the bank because the forex isn't actually moving your money. It's receiving money into accounts which are in the senders country, and then, using its accounts in the receivers country, it pays the receiver.

Also means the receiver doesn't get hit with fees to receive an international payment.




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