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Ohmyfin 解答 SWIFT 国际汇款常见问题 ›
What is the difference between an intermediary bank and a correspondent bank?
Ohmyfin 解答：What is the difference between an intermediary bank and a correspondent bank?
Ohmyfin 的回答如下（英文）。
In practice they mean the same thing — a bank that sits between the sender's bank and the beneficiary's bank in a SWIFT payment chain. 'Correspondent bank' emphasises the long-standing bilateral relationship (nostro/vostro accounts) between two banks. 'Intermediary bank' is the MT103 field name (field 56A). Both describe the same role: routing the payment between the two endpoints.
MT103 field 56A is labelled 'Intermediary Institution' and carries the BIC of the bank that routes the payment from the ordering bank to the beneficiary's bank. In everyday banking language, this is what people call a 'correspondent bank'.
A correspondent banking relationship involves one bank holding an account at another bank. The account held is a 'nostro' account from the holding bank's perspective, and a 'vostro' account from the other bank's perspective. These pre-arranged accounts allow inter-bank settlements without needing to send physical currency.
Most SWIFT payment delays happen at intermediary/correspondent banks — they are the point of sanctions screening, fee deduction, and queuing. When Ohmyfin shows your UETR status as ACSP at a named bank, that is the correspondent currently processing the payment.
Correspondent bank and intermediary bank mean the same thing in practice
MT103 field 56A = Intermediary Institution = correspondent bank BIC
Holds nostro/vostro accounts to facilitate inter-bank settlement
Most SWIFT delays happen at correspondents — track on Ohmyfin to see which one
What is the difference between an intermediary bank and a correspondent bank?
In practice they mean the same thing — a bank that sits between the sender's bank and the beneficiary's bank in a SWIFT payment chain. 'Correspondent bank' emphasises the long-standing bilateral relationship (nostro/vostro accounts) between two banks. 'Intermediary bank' is the MT103 field name (field 56A). Both describe the same role: routing the payment between the two endpoints.
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No. Ohmyfin queries the SWIFT GPI network directly via the UETR — no credentials at any bank required.