CORRESPONDENT ACCOUNT
Correspondent bank account in EU:
Bank account for inbound and outbound transfers in EUR maintained in the name of a non-European bank.
Functionality:
Single or multiple sets of banking details (British IBAN) supporting inbound and outbound transfers, reporting, balance management.
Process:
CJ opens Payment Account for Client; Client uses CJ APIs for standard account management operations: submission of outbound transfer instructions, viewing account statements.
Services used: