The United States of America (USA) has a population of over 325 million people, making it third most populous country in the world behind China and India. The US government operates as a representative democracy and considered the world’s oldest surviving federation. There are two main political parties, the Democrats and the Republicans. Donald Trump is the current President.
The US economy ranks as the largest in the world by nominal GDP, accounting for approximately a quarter of global GDP. The 2008-2012 Global Financial Crisis significantly affected the United States and stemmed from the collapse of the US real-estate market and the subprime mortgage crisis.
When looking at the exchange rate, remember that the policies of the local reserve banks, the Reserve Bank of Australia and the Federal Reserve (Fed), can have an important impact on the direction of AUD/USD. The US is both the world’s biggest importer and the second biggest exporter, making the value of the USD closely tied to the economic health of its biggest trading partners - China, Mexico and Canada.
To send money to the USA you’ll need the name on the recipient’s bank account, the routing number, SWIFT/BIC code and the bank account number. The routing number is a 9-digit code that is used to identify where the bank account was opened. It can also be known as an ABA routing number.
In some cases, FlashFX is able to send US dollars to the United States via an ACH payment. ACH payments are a US-only type of electronic transfer. The main difference between ACH payments and wire transfers are that ACH payments are processed in batches, rather than individually. ACH payments are generally cheaper than wire transfers because they eliminate any receiver bank fees. The downside is that they sometimes take longer to process. FlashFX is able to facilitate ACH payments because our partners use technology that connects them to local bank accounts in the US