Intermediary Bank

This role of intermediary bank is common in international remittance business.

Intermediary bank. An intermediary bank is also a middleman between an issuing bank and a receiving bank sometimes in different countries. Otherwise your payment may not be received. It does not keep the cash but simply assists in the. Please carefully follow the bank instructions we provide.

An intermediary bank is a bank that acts on behalf of the sender bank. Intermediary banks serve a similar role as correspondent banks. Backstop allocations if the total backstop lender. You always need to provide the beneficiary bank details as the final beneficiary for your payment never the intermediary bank details.

If any bank other than the remitters bank and beneficiary s bank is involved while making remittance that bank is referred as intermediary bank. Intermediary bank means a bank or other financial institution which i has been approved by the fronting banks to act as a risk participant in respect of the new money debt and ii is willing to enter into both a risk participation arrangements with the fronting banks in respect of the new money debt.