Interbank transfers

**Interbank Transfers**

Interbank transfers refer to the process of moving funds from an account in one bank to an account held at a different bank. These transactions are commonly used for a variety of purposes, including paying bills, sending money to friends or family, and making business payments. Interbank transfers can be conducted through various methods such as wire transfers, Automated Clearing House (ACH) payments, or real-time payment systems, depending on the banks involved and the country’s banking infrastructure. Understanding how interbank transfers work is essential for managing finances efficiently and ensuring secure, timely movement of funds between institutions.