Correspondent Banking
3 articlesCorrespondent banking is an arrangement in which one bank provides accounts and payment services to another bank, often across borders. Nostro and vostro accounts allow the respondent bank to access foreign-currency clearing and route transfers through intermediary institutions, with compliance checks and fees applied along the chain. The relationship supports international settlement where banks lack direct access to a market. It is not a retail remittance service or a payment message standard by itself.
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