Business / Taxes / Correspondent: A correspondent is a financial institution, such as a bank or brokerage firm, that handles transactions on behalf of another financial institution that it can’t complete on its own. For example, if a US bank has a client who needs to make a payment to a supplier located overseas, the US bank would use its relationship with a correspondent bank in the supplier’s home country to credit the supplier’s bank account with money from its own client’s account that had been transferred through an international payment system.

Other Words for Correspondent

Correspondent Verb Synonyms: newspaperman, newspaperwoman, pressman, presswoman, journalist, reporter, stringer, newsman, newsperson

Loan Correspondent

Business / Real Estate / Loan Correspondent: A person or entity that acts for a lender in arranging loans or the sale of loans. MORE

American Depository Receipt Fees

Business / Finance / American Depository Receipt Fees: Fees associated with the creating or releasing of ADRs from ordinary shares, charged by the commercial banks with correspondent banks in the international sites. MORE

American Depository Receipt (ADR)

Business / Finance / American Depository Receipt (ADR): Certificates issued by a U.S. depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. One ADR may represent a portion of a foreign MORE