Receiving Bank

Receiving Bank

A bank that collects an electronic transfer from another bank. It is also called a receiving depository financial institution.
References in periodicals archive ?
They will be processed on May 2, after all credits have been successfully applied to customer accounts." And AIB said: "Please allow more time for your payments to reach the receiving bank. Payments due into your account from other banks on May 1, 2019, may not be credited to your account until Thursday, May 2, 2019.
But from this gross amount of Sh200 billion, the receiving bank deducted Sh100 million to pay legal fees, legal lead managers' fees, roadshow expenses and other transaction expenses associated with the initial issuance.
Member u are not residents of the Republic of Belarus should sprovide bank details, indicating the receiving bank, correspondent bank, do not support the US economic sanctions against businesses that are part of the concern "Belneftekhim" (at the conclusion of the foreign trade contract).
If, after complaining, the scam victim is still unhappy with the way the receiving bank has handled their case, the new rules will allow them to escalate their complaint to the Financial Ombudsman Service (FOS).
Al Hilal Bank customers can now opt for Online Fund Transfer in UAE Dirhams to a third party and release the funds to the receiving bank almost instantly.
If the victim is still unhappy with the way the receiving bank has handled their case, the new rules will allow them to escalate their complaint to the Financial Ombudsman Service (FOS).
In parallel, application forms were also received through the Receiving Bank & Participating Brokers.
SOKOTO State petty traders were full of praises and appreciation to the federal government upon receiving bank payment alert for Tradermoni in the State.
While Qatar National Bank (QNB) has been mandated as the lead receiving bank, Kaabi said, the distribution and collection of all IPO application forms can also be processed through nine other receiving banks like Qatar International Islamic Bank (QIIB), Masraf Al Rayan, Commercial Bank, Al Ahli Bank, Doha Bank, Qatar Islamic Bank (QIB), Barwa Bank, Arab Bank and Al Khalij Commercial Bank.
With Instapay, RCBC account holders can also enjoy lower fees and charges, as low as P15 per transfer, as long as the receiving bank is a legitimate service partner.
The lender will act as the sole receiving bank and oversee the subscription process.
The funds transfer is free but standard correspondent bank charges from the receiving bank will still apply.