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About: Informal value transfer system     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Whole100003553, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:Artifact100021939yago:Instrumentality103575240yago:Object100002684yago:PhysicalEntity100001930yago:WikicatInformalValueTransferSystemsyago:System104377057yago:Whole100003553 New Facet based on Instances of this Class

An informal value transfer system (IVTS) is any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form. Informal value transfers generally take place outside of the conventional banking system through non-bank financial institution or other business entities whose primary business activity may not be the transmission of money. The IVTS transactions occasionally interconnect with formal banking systems, such as through the use of bank accounts held by the IVTS operator.