Globalization and growing economies around the world have led to the development of international banking facility. The world is now a marketplace and each business wants to exploit it. Geographical boundaries are no more a concern. With access to technology, banking facilities have grown vastly. One prime example of it is international banking. International banking is like any other banking service, but it takes place across different nations or internationally.
To put in another way, international banking is an arrangement of financial service by a residential bank of one country to the residents of another country. Mostly multinational companies and individuals use this banking facility for transacting. Benefits of international banking are flexibility international banking facility provides flexibility to the multinational companies to deal in multiple currencies. Accessibility, International banking provides accessibility and ease of doing business to the companies from different countries. International transaction, International banking allows the business to make international bill payments, accounts maintenance a multinational company can maintain the records of global accounts in a fair manner with the help of international banking.
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