Intermediary bank

A third bank (sometimes called a correspondent bank) that helps route a wire transfer between the sender's bank and the recipient's bank when the two have no direct relationship — common on international wires and cross-currency payments. The funds hop through one or more intermediaries before reaching the beneficiary. Each intermediary may deduct its own handling fee along the way, so the amount that finally arrives can be noticeably less than the amount sent, and the transfer can take longer than a direct wire.