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OTHER TRANSFER SYSTEMS

CHIPS: Clearing House Interbank Payments System. An interbank payment system related to international trade, CHIPS is used for the transfer of international trade dollars.  CHIPS is used by both Fedwire and S.W.I.F.T.

CHAPS: Clearing House Automated Payments System.  Operated by the Bankers Clearing House of London, CHAPS is used for interbank messaging and wire transfer involving British Pounds.

BOJNET: Electronic wire transfer system overseen by the Bank of Japan.

FUNDS WIRING SERVICES: Although there are many wire transfer services, they must each use the basic services such as Fedwire, S.W.I.F.T, or BOJNET.  Examples of wire money transfer services are Western Union, Moneygram, Eurigro, Sterling Draft Service, and the various payment services available on the Internet.

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