Correspondent bank

Bank that accepts deposits of, and performs services for, another bank (called a respondent bank); in most cases, the two banks are in different cities.

Correspondent Bank

A bank that has limited access to certain financial markets and therefore must use the services of another bank to conduct certain transactions. Correspondent banks are usually small. Agreements with other banks allow it to provide necessary services for account holders without incurring the expense of setting up a branch in another city or country.

单词	correspondent bank
释义	DictionarySeebankLegalSeeBank Correspondent bank Correspondent bank Bank that accepts deposits of, and performs services for, another bank (called a respondent bank); in most cases, the two banks are in different cities. Correspondent Bank A bank that has limited access to certain financial markets and therefore must use the services of another bank to conduct certain transactions. Correspondent banks are usually small. Agreements with other banks allow it to provide necessary services for account holders without incurring the expense of setting up a branch in another city or country.
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