# Accounts & Relationships

This page describes the arrangement of deposit or IPS settlement accounts in Nexus, and other relationships between participants.

## Deposit account relationships

There are four key deposit-account relationships in Nexus:

* The Sender holds a deposit account (ie checking/current account) at the Source PSP
* The Recipient holds a deposit account at the Destination PSP
* Depending on an FXP's [access to the IPS](/fx-provision/accessing-instant-payment-systems.md), the FXP may hold:
  * A deposit account denominated in the Source Currency at a Source Settlement Access Provider (SAP)
  * A deposit account denominated in the Destination Currency at the Destination SAP.

<figure><img src="/files/JmFU4hFiAcw0wXkV7zQc" alt=""><figcaption><p>Accounts held by the Sender, FXP and Recipient</p></figcaption></figure>

## IPS Settlement Accounts

* The Source PSP and Source SAP hold IPS settlement accounts, recorded at the Source IPS.
* The Destination SAP and Destination PSP hold IPS settlement accounts, recorded in the Destination IPS.
* (In practice, the IPS settlement accounts are actually held at the respective central banks, but the IPS will process transactions to and from those accounts, either in real time or at the end of a settlement cycle.)

<figure><img src="/files/PskuUFvofEx8dkf1jcNu" alt=""><figcaption></figcaption></figure>

## Relationships between participants <a href="#toc163731056" id="toc163731056"></a>

The relationships between the different parties during the processing of a Nexus payment are:

* The Source PSP has already onboarded with one or more FXP(s) and has selected this FXP for this Nexus transaction
* The FXP has opened an account at a Source SAP and a Destination SAP in the applicable currencies (unless the FXP is itself a member of either IPS - see [Accessing Instant Payment Systems](/fx-provision/accessing-instant-payment-systems.md))
* The Source IPS has onboarded the Source PSP and the Source SAP
* The Destination IPS has onboarded the Destination SAP and the Destination PSP


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