Definition of «agent bank»

An agent bank is a financial institution that provides services on behalf of another bank. It typically acts as an intermediary between the other bank and its customers, performing tasks such as depositing or cashing checks, processing transactions, and providing customer service. The term can also refer to a bank that offers services to other banks, such as clearinghouse services or correspondent banking relationships.

Sentences with «agent bank»

  • Check the fine print on your application to learn whether agent banks like these are really issuing your prospective credit card. (cardratings.com)
  • Just give your LoanMart car title loan agent your banking account number and routing number, or any information needed in order to automatically transfer your funds. (800loanmart.com)
  • Bearer bonds are also called coupon bonds because the physical bond certificates have coupons attached to them that can be redeemed at an authorized agent bank for biannual interest payments, an activity that is commonly called «clipping coupons.» (investopedia.com)
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