Intermediary Bank

An intermediary bank is a bank that sits between the sending and receiving banks to route an international payment, often acting as a correspondent bank when no direct relationship exists.

Intermediary banks relay payment instructions and funds through the SWIFT network. Each intermediary may charge fees and affect overall processing time.

Related Terms

Correspondent Bank

A correspondent bank provides banking services on behalf of another bank, often in a different count...

SWIFT

Society for Worldwide Interbank Financial Telecommunication

SWIFT is a global messaging network that financial institutions use to securely transmit information...

Wire Transfer

A wire transfer is an electronic transfer of funds between banks or financial institutions. Wire tra...

Cross-Border Payment

A cross-border payment is a transfer where the payer and payee are in different countries or currenc...

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