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The :Nyan-ko-pong: Royal Central Bank provides the wire Funds Service, a real-time gross settlement system that enables participants to initiate funds transfer that are immediate, final, and irrevocable once processed. Depository institutions and certain other financial institutions that hold an account with
the
Central Bank are eligible to participate in the wire
Funds Services. The wire Funds Service is generally used to make large-value, time-critical payments.
The wire Funds Service is a credit transfer service. Participants originate funds transfers by instructing
the
Central Bank to debit funds from its own account and credit funds to the account of another participant. Participants may originate funds transfers online, by initiating a secure electronic message, or off line, via telephone procedures. |
