Accepting Bank


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Related to Accepting Bank: Notifying Bank

Accepting Bank

A bank in a country to which another bank sends a letter of credit on behalf of a client. The accepting bank honors the letter of credit and transfers requested funds to the client. This is similar to an advising bank, though the latter term refers exclusively to a bank in different country; an accepting bank may be (but is not necessarily) in the domestic country.
References in periodicals archive ?
Lot 1: accepting bank cards and financial transactions through payment terminals at reception desks and counters.
The move by Austria comes after Germany's Bundesbank became the first central bank to announce it would no longer be accepting bank bonds backed by the three countries, the report said.
CEPS is capable of accepting bank account and credit card debits,
AMSTERDAM, The Netherlands -- GlobalCollect merchants accepting Bank Transfer payments from Korea, Japan, and Taiwan are now taking advantage of unique virtual account numbers issued for each order.
FEDCO is one of the nation's largest regional retail membership chains and is believed to be the first such major chain to begin accepting bank cards in all locations.