{"id":1215,"date":"2023-10-05T12:44:45","date_gmt":"2023-10-05T03:44:45","guid":{"rendered":"https:\/\/bitwallet.com\/?post_type=glossary&#038;p=1215"},"modified":"2024-02-14T17:51:18","modified_gmt":"2024-02-14T08:51:18","slug":"correspondent-bank","status":"publish","type":"glossary","link":"https:\/\/bitwallet.com\/en\/support\/glossary\/correspondent-bank\/","title":{"rendered":"correspondent bank"},"content":{"rendered":"\n<dl>\n<dt>how to read<\/dt>\n<dd>How to read in Japanese: correspondent bank<\/dd>\n<dt>synonyms<\/dt>\n<dd><\/dd>\n<dt>antonym<\/dt>\n<dd><\/dd>\n<\/dl>\n\n\n\n<p>When money is transferred between banks within the same country, usually only the balance of the account at the country&#8217;s central bank is written down, not the actual cash transport.<\/p>\n\n\n\n<p>However, when remitting money to a foreign country (outward remittance), banks that have not opened a deposit account at the country&#8217;s central bank cannot use this method. Therefore, a correspondent agreement is concluded with a bank that has a deposit account at the central bank of that country, and that bank is called a correspondent bank. A correspondent contract is a contract that serves as a relay for overseas remittances.<\/p>\n\n\n\n<p>For example, when Bank B in Country A sends money to Bank D in Country C, Bank B opens an account with Bank E, which has a deposit account with the central bank in Country C, in advance and enters into a correspondent account agreement. Then, when Bank B sends money to Bank D, it can request Bank E to send the money through the central bank in Country C.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When money is transferred between banks within the same country, usually only the balance of the account at the country&#8217;s central bank is written down, not the actual cash transport.<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"footnotes":""},"genre":[65],"initial":[118],"initial-ja":[254],"class_list":["post-1215","glossary","type-glossary","status-publish","hentry","genre-genre01","initial-ini-c","initial-ja-ini-ja-ko"],"_links":{"self":[{"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/glossary\/1215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/types\/glossary"}],"version-history":[{"count":3,"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/glossary\/1215\/revisions"}],"predecessor-version":[{"id":3622,"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/glossary\/1215\/revisions\/3622"}],"wp:attachment":[{"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/media?parent=1215"}],"wp:term":[{"taxonomy":"genre","embeddable":true,"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/genre?post=1215"},{"taxonomy":"initial","embeddable":true,"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/initial?post=1215"},{"taxonomy":"initial-ja","embeddable":true,"href":"https:\/\/bitwallet.com\/en\/wp-json\/wp\/v2\/initial-ja?post=1215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}