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Notifying Bank

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Notifying Bank

Notifying Bank
A bank in a foreign country to which another bank in the domestic country sends a letter of credit on behalf of a client. The notifying bank honors the letter of credit and transfers requested funds to the client. A notifying bank is also called an advising bank.


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Manage day-to-day details (could include terminating leases and credit cards, notifying banks and government agencies, etc.
He added each bank has its own cheque limit and amounts which exceed this are examined, but it was "not practical" for all cheques to be physically verified and victims notifying banks of missing funds or cheques was vital in the fight against fraud.
Visa and MasterCard are notifying banks about accounts impacted by a "major compromise," unrelated to the massive Heartland Payment Systems incident announced last month, according to a number of credit unions and banking associations.
 
 
 
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