Tag Archives: clearing house

#139 Let’s say I owe you $200, and you owe me $150. Would you give me $150, and I give you $100? No. We would agree to cancel out $100, and you would owe me $50. SWIFT is an international system that acts as a clearinghouse among 11,000 banks in 200 countries worldwide by cancelingContinue reading “SWIFT and RUSSIA”