The US is the largest economy in the world as well as having one of the world’s biggest financial markets. In addition, the US dollar (USD) still has its dominant role as a key currency, which is widely used in the international trade, global finance and investment, and as a reserve currency. This situation leads the massive flow of funds in the USD domestically and internationally.
For this reason, the US payment systems handle such a massive fund transfers of the USD within the nation and also between the US and foreign countries. Therefore, it is extremely important to obtain a detailed knowledge about how the USD payments are settled.