intermediary bank

Definition of "intermediary bank"
  1. An intermediary bank refers to a financial institution involved in a bank transaction, but not the primary depositing or paying institution, which aids in the process of funds collection
How to use "intermediary bank" in a sentence
  1. The check was sent to an intermediary bank for the completion of its processing.
  2. During the wire transfer, an intermediary bank was used to streamline the transaction process.
  3. The intermediary bank assisted in transferring the payment in the course of collection.

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