correspondent banking definition
correspondent banking means the provision of banking, payment and other services by one bank “the correspondent bank” to another bank “the respondent bank” to enable the latter to provide services and products to its clients;
correspondent banking means provision of banking services by one bank (correspondent) to another bank (respondent) including but not limited to opening and maintaining accounts in different currencies, fund transfers, cheque clearing, payable through accounts, foreign exchanges services or similar other banking services;
correspondent banking means the provision of banking services by a correspondent bank to a respondent bank;
More Definitions of correspondent banking
correspondent banking means the provision of banking services by one bank to another bank; and
correspondent banking means the provision of banking services by one bank, the correspondent bank, or the correspondent bank, to another bank, or the respondent bank;
correspondent banking means agreements or contractual arrangements between banks to provide mutual payment services;
correspondent banking means the provision by one bank (the correspondent) to another bank (the respondent) of credit, deposit, collection, clearing or payment services.
correspondent banking means provision of banking services by one bank (the correspondent bank) to another bank (the respondent bank) pincluding cash management (ex: large international banks frequently act as correspondent banks for large number of other banks around the world by providing wide range of services such as interest-bearing accounts in a variety of currencies, international wire transfers, cheque clearing, payable-through accounts and foreign exchange services);
correspondent banking means the provision of banking services by a correspondent
correspondent banking means an arrangement between two credit institutions pursuant to which one credit institution provides payment services to the clients of the other credit institution on behalf of that credit institution;