Meaning of “money transmission” in the English Dictionary

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"money transmission" in Business English

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money transmissionnoun [ U ]

uk us FINANCE, BANKING

the act of moving money between bank accounts or from one person or organization to another:

Banks will be obliged to tell customers up front how much they charge for cash machine, cheque, and other money transmission services.

(Definition of “money transmission” from the Cambridge Business English Dictionary © Cambridge University Press)