agent bank

Definition

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.

Use agent bank in a sentence

You should try and make sure that you have a good relationship with an agent bank that can help you when you need it.

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The agent bank was able to conduct the transactions for the original bank which allowed us to proceed with our project today.

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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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agent agent's commission