Real-time transfer of account balances

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Reference no: EM131072723

Wire transfers represent a "real-time transfer of account balances." This implies that:

there is no availability float

there is no charge to the user because no time is involved in the transfer processing

there is very large dual balances in the "transferred from" and "transferred to" accounts

the user does not have to keep compensating balances or reserve requirements for deposit accounts from which the transfer takes place

Reference no: EM131072723

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