correspondent bank
Americannoun
Other Word Forms
Etymology
Origin of correspondent bank
First recorded in 1960–65
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
A correspondent bank acts as a middleman in the transfer of money from one bank to another.
From Reuters • Jul. 7, 2022
The DWP then used another correspondent bank, but that meant switching to Yemen's currency, rials.
From BBC • Feb. 16, 2022
JPMorgan Chase helped facilitate this payment by acting as the correspondent bank in transfers, according to bank-transfer records obtained by the monitors.
From Washington Post • Apr. 24, 2019
Right now, they’re setting up a system where a bank in Europe and a correspondent bank in the U.S. are connected to create instant transfers to Europe.
From Forbes • Nov. 26, 2014
It means the investment in a security for the strength of which the bank must depend on the word of note brokers, the rating of the mercantile agencies, or the opinion of some correspondent bank.
From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
