ACI
3I0-013 · Question #168
What is a correspondent bank?
The correct answer is A. A bank which processes payment orders on behalf of another bank. See the full explanation below for the reasoning.
Question
What is a correspondent bank?
Options
- AA bank which processes payment orders on behalf of another bank
- BA bank which processes payment orders on national level only
- CA bank which has subsidiaries in CLS-countries
- DA bank which has a minimum reserve account in more than one country
How the community answered
(47 responses)- A79% (37)
- B6% (3)
- C2% (1)
- D13% (6)
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