Bank Koresponden: Pengertian, Ciri-ciri dan Contohnya

pengertian bank koresponden dan cara kerjanya

Last updated on April 22nd, 2025 at 03:47 pm

In the realm of global banking, Correspondent Banks and Intermediary Banks play significant roles in facilitating cross-border transactions.

Understanding the differences and functions of each is key to comprehending how the international banking system operates.

What is a Correspondent Bank?

A correspondent bank is an alliance of several financial institutions working together to serve as intermediaries in various financial activities, such as fund transfers, business transactions, and document collection for partners..

Typically, correspondent banks collaborate with financial institutions abroad, facilitating local participation in the global market without the need to open branches overseas.

The main goal of a correspondent bank is to promote services to partners and support economic activities such as exports, imports, and foreign currency transactions.

This makes correspondent banks a vital tool in maintaining good relationships between financial institutions and serving foreign clients.

The presence of correspondent banks not only builds the reputation and integrity of domestic financial institutions but also follows the expansion of businesses driven by the global influence, the need for additional partnerships, and increasing economic activities like international trade and foreign currency transactions.

Benefits of Correspondent Banks

  1. Facilitate International Transactions: Correspondent banks facilitate cross-border transactions by providing a channel for transferring funds between banks in different countries.
  2. Access to Global Markets: Correspondent banks enable other banks to access global markets and provide a broader range of banking services to their clients.
  3. Liquidity Management: Correspondent banks help other banks manage liquidity by providing access to larger financial resources in the foreign exchange market.
  4. Payment Processing: Correspondent banks assist in processing payments between banks, including clearing and settlement of transactions.
  5. Risk Diversification: Collaboration with correspondent banks helps banks reduce risk in international operations by diversifying services and resources.
  6. Support for Foreign Currency Transactions: Correspondent banks allow other banks to support foreign currency transactions and facilitate currency conversion.

Read Also: The Most Complete List of Bank Codes for Fund Transfer Needs

Characteristics of Correspondent Banks

Here are some characteristics or terms related to correspondent banks:

  1. Export Bills for Collection : A trade method where the exporter works with a bank to supervise the movement of documents related to the transaction.
  2. Credit Line : The maximum transaction value limit imposed by a financial institution on its partner.
  3. Cash Letter : A document used as a form of cash payment, such as travelers' cheques and money orders.
  4. Foreign Currency Outward Collection: A claim in foreign currency made to a third party overseas, according to the customer's request.
  5. Foreign Currency Outward Transfer: A service for sending money between accounts in foreign currency at the request of the customer.
  6. Domestic and Foreign Financial Transactions: Services that allow customers to make local or international transactions at the bank.

Example of Correspondent Bank Transaction

Anna wants to purchase machinery from Japan, but the supplier only accepts payment in yen. Anna's bank in the US doesn't have a direct relationship with the supplier's bank in Japan, so the transaction needs to be processed through the SWIFT network.

Anna’s banker will use the SWIFT network to find a correspondent bank that has a relationship with both banks.

Anna's bank will then transfer the funds to the correspondent bank's account, which will forward the funds to the supplier's bank account.

Correspondent banking allows Anna to do business with a supplier in Japan without having a bank account in the country. She doesn't even need to switch banks in the US.

In simple terms, Anna can pay her supplier in Japan through her bank in the US with the help of a correspondent bank.

Types of Correspondent Bank Relationships

1. Depository Correspondent:

A relationship where the correspondent bank receives deposits or savings funds from partner banks or overseas clients. The correspondent bank acts as the receiver of funds guaranteed by the partner bank or its clients.

2. Non-Depository Correspondent:

A type of relationship where the correspondent bank does not receive deposits or savings funds from partner banks or overseas clients. The focus is more on providing transactional services, such as fund transfers, clearing, payment processing, and credit facilities, without involving the acceptance of deposits.

How Do Correspondent Banks Work?

Correspondent banks act as intermediaries between domestic and international banks. They serve as agents of foreign banks, performing transactions with domestic banks on behalf of those foreign institutions. 

Correspondent banks offer a variety of financial services, including treasury services, international wire transfers, global investments, and trade financing. They charge fees for the services provided to foreign banks.

Since they have direct relationships with both domestic and foreign banks, correspondent banks can connect and provide services to both parties. Domestic banks often use correspondent banks to handle transactions involving foreign countries.

Differences Between Correspondent Banks and Intermediary Banks

Correspondent banks and intermediary banks differ in their roles and functions within the banking system. 

Correspondent Banks: Act as intermediaries between domestic and international banks, providing cross-border services and charging fees for their services 

They have direct relationships with foreign banks.

Intermediary Banks: Serve as connectors in financial transactions between parties involved but do not have direct relationships with foreign banks. They may charge fees or commissions for the services they provide but do not have direct foreign bank connections.

Are There Additional Fees?

Correspondent banks charge fees for the services they provide, and these can vary depending on several factors. 

For services like international wire transfers, the fees typically range from $25 until $75 per transaction. This fee information is communicated to customers by the bank. 

Some banks charge only the actual fees paid to the correspondent bank to the customer, while others may add a markup to these fees.

A deep understanding of Correspondent Banks and Intermediary Banks helps demystify the complexities of cross-border financial transactions.

With a clear understanding of their roles, functions, and differences, business and banking professionals can benefit more from the services offered within the global banking ecosystem.

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