Business, Legal & Accounting Glossary
A bank that has been authorized by an individual to act as his/her agent. An agent bank would typically provide services such as back-office operations, processing of credit applications, and verification services.
You should try and make sure that you have a good relationship with an agent bank that can help you when you need it.
The agent bank was able to conduct the transactions for the original bank which allowed us to proceed with our project today.
My brother ran a technology startup company in the financial sector, and decided that he needed to secure the services of an agent bank to assist him.
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This glossary post was last updated: 30th October, 2021 | 0 Views.