# Cross-Border Payments

*Banking & Payments — Finicade finance glossary*

Cross-border payments move money between countries, typically through a chain of correspondent banks, each adding cost, delay and an FX margin. The advertised fee is rarely the real one: the exchange rate spread usually exceeds it. Fintech providers compete mainly by netting flows domestically on both sides rather than actually sending money across the border.

**Also known as:** international payments, FX payments

**Related terms:** [Correspondent Banking](https://finicade.com/glossary/correspondent-banking), [SWIFT](https://finicade.com/glossary/swift), [Remittance](https://finicade.com/glossary/remittance), [Currency Pair](https://finicade.com/glossary/currency-pair), [Wire Transfer](https://finicade.com/glossary/wire-transfer)

Source: https://finicade.com/glossary/cross-border-payments