Monito.com
Menu

The Monito Glossary

Welcome to The Monito Glossary, an in-depth repository of definitions and explanations on all things related to cross-border payments.

On this page, you'll find links to all Glossary pages published so far on Monito, broken down into alphabetical order.

A

Automated Clearing House (ACH)

Account Number

Airtime Top-Up

Agent Pickup

Australian Securities and Investments Commission (ASIC)

B

Bank Charges

Bank Fees

Bank Identifier

Bank Transfer

Bank Wire

Bank Verification Number (BVN)

Beneficiary

Bank Identification Code (BIC)

Bill Pay

Bulk Electronic Clearing System (BECS)

C

Canadian Transit Number

Cash Pickup

Clearing House Automated Payments System (CHAPS)

CLABE

Clearing House

Commission Fees

Correspondent Bank

Correspondent Bank Fees

Currency Exchange Provider

Currency Transfer

D

Demand Draft

Digital Wallet

Direct Deposit

Door-to-Door Money

Dynamic Currency Conversion

E

Electronic Funds Transfer (EFT)

Electronic Wallet

Exchange Rate Alerts

Exchange Rate Margin

F

Financial Conduct Authority (FCA)

Financial Crimes Enforcement Network (FinCEN)

Financial Intelligence Unit (AUSTRAC)

Fixed Fee

Foreign Exchange Broker

H

Her Majesty's Revenue and Customs (HMRC)

Home Delivery Money

I

IBAN

IBAN Discrimination

Interac e-Transfer

Interbank Exchange Rate

International Card Transaction Fee

International Wire Transfer

L

Local Pickup

M

Mid-Market Exchange Rate

Mobile Money

Mobile Wallet

Money Order

Multifactor Authentication (MFA)

Multi-Currency Account

Multiple Currency Account

N

Nigerian Uniform Bank Account Number (NUBAN)

P

Pay Cards

Pay to Card

PayPoint

Paysafecard

Paysafecash

Prepaid Cards

R

Recipient

Regulation Licensing and Jurisdiction

Remittances

Ring-Fenced Accounts

Routing number

S

Sending Airtime Internationally

Single Euro Payments Area (SEPA)

Single-Factor Authentication

SOFORT

Sort Code

Standard Exchange Rate

Store Pickup

Society for Worldwide Interbank Financial Telecommunication (SWIFT)

T

Telegraphic Transfer

Two-Factor Authentication

U

Unified Payments Interface (UPI)

Unstructured Supplementary Service Data (USSD)

W

Wire Transfer

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn More About Monito
  • Monito is trusted by 15+ million users across the globe.

  • Monito's experts spend hours researching and testing services so that you don't have to.

  • Our recommendations are always unbiased and independent.

Monito.com

Global Impact Finance Ltd
Avenue de Montchoisi 35
1006 Lausanne
Switzerland

Affiliate Disclosure
Instead of banner ads and paywalls, Monito makes money through affiliate links to the various payment service providers featured on our website. While we work hard to scout the market for the best deals, we're unable to consider every possible product available to you. Our extensive range of trusted affiliate partners enables us to make detailed, unbiased, and solution-driven recommendations for all types of consumer questions and problems. This allows us to match our users with the right providers to suit their needs and, in doing so, match our providers with new customers, creating a win-win for everybody involved. However, while some links on Monito may indeed earn us a commission, this fact never impacts the independence and integrity of our opinions, recommendations, and evaluations.