What is a intermediary bank?

JJ F.

August 31, 2023 21:43

An intermediary bank acts as the middleman when sending and receiving banks that don't have agreements in place for wire transfers.

An intermediary bank provides services on behalf of another bank, serving the role of a middleman between the issuing bank and the receiving bank. In the US this oftentimes happens when the financial institution is smaller and is not a direct member of the SWIFT network.

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What is a intermediary bank?

An intermediary bank acts as the middleman when sending and receiving banks that don't have agreements in place for wire transfers.

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