Correspondent Banks

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Correspondent banks involved in most cross-border funds transfers via SWIFT. Banks (respondents) open accounts in large financial institutions to settle the payments between each other. Those accounts called Nostro.

Standard Settlement Instructions (SSI) - default instructions of a bank or other financial institution for the payments and delivery of securities. In cross-border payments usually, it is a list of nostro accounts in correspondent banks.

While normally Standard Settlement Instructions are stored in a SWIFTRef database, and most of the banks involved in cross-border payments can access this information, sometimes it is useful to check them yourself in advance. Examples of such situations:

The largest correspondent banks for USD currency are:

How Do I Find a Correspondent Bank Online?

There are 3 ways how to get a list of correspondents for a specific bank including their SWIFT codes:

How Standard Settlement Instructions Look Like?

Usually, it is a list of currencies, correspondent banks and account numbers in those banks. Here is an example for Hipotekarna Banka:

SSI HBBAMEPG

Some of the banks share the list of correspondent banks on their official web sites. For example, Kreissparkasse Esslingen-Nuertingen or RAIFFEISENLANDESBANK.

Find Your Bank by Country and Get a List of Correspondent Banks

We understand that finding a bank by a SWIFT/BIC code or a name could be challenging. You can select a country below and find a bank in the list. After that you will be able to get its correspondents banks and other useful information related to SWIFT money transfers.

Correspondent Banking — Frequently Asked Questions

A correspondent bank is a financial institution that provides banking services on behalf of another bank — the respondent bank — in a country or currency market where the respondent has no direct presence. Correspondent banks hold accounts (called Nostro accounts) that allow the respondent to settle cross-border payments on behalf of their customers.

When your bank does not have a direct relationship with the beneficiary's bank, it routes the payment through one or more correspondent banks that do. Each correspondent bank in the chain forwards the funds closer to the final destination, typically deducting a small fee along the way. This is the standard mechanism for most international SWIFT wire transfers.

Standard Settlement Instructions (SSI) are the default instructions of a bank or financial institution for making payments and delivering securities. In cross-border payments, SSIs typically list a bank's Nostro accounts at correspondent banks for each currency. They define how a payment should be routed to reach a particular bank in a particular currency.

A Nostro account (from the Latin for 'ours') is an account that a bank holds at a foreign bank in that foreign bank's currency. For example, a UK bank might hold a USD Nostro account at a US bank to facilitate dollar payments on behalf of its customers. Nostro accounts are the backbone of the correspondent banking network.

On the Ohmyfin Correspondent Banks page, enter a bank name or SWIFT/BIC code in the search box and select the bank from the autocomplete list. You will be shown the correspondent banking relationships and Standard Settlement Instructions (SSI) for that institution. An account is required to view full SSI details.