Agent bank

Agent bank,

Definition of Agent bank:

  1. An agent bank is a bank that performs services in some capacity on behalf of an entity. An agent bank, also known as agency bank, can offer a wide variety of services for businesses looking to expand internationally. These banks generally act on behalf of another bank or group of banks, but they can act on behalf of a person or business.

  2. Agent banks can serve the needs of both individuals and businesses through a broad range of services. They can include various forms and are willing to partner on a variety of different offerings. The specific roles of the agent bank will depend on the arrangement made with the client.

  3. A bank which uses the credit card system set up by another bank.

How to use Agent bank in a sentence?

  1. There are various banks that can be considered an agent bank, including investment banks.
  2. LendingClub, the online peer-to-peer lending platform, uses third-party agent banks to operate its business. .
  3. An agent bank can represent a group of banks, which is the case if they are the lead bank in a syndicated loan. .
  4. An agent bank operates as a go-between for an individual or business looking to do business in other countries. .

Meaning of Agent bank & Agent bank Definition