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I've been hearing that there are only 4 banks that actually service international U.S. wire transfers. Those banks then forward transfers to all domestic banks.

Which institutions are those? Secondly, why only those institutions?

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I've been hearing that there are only 4 banks that actually service international U.S. wire transfers.

This is not true. Depending on the currency pair, you will find quite a few banks.

In general Bank of America, Bank of New York, Citi, HSBC, Barclays, JPMC, Wells Fargo, etc all offer dollar clearing

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