Agent Bank
nounverified·updated May 9, 2026
A member of a bankcard company that agrees to participate in an acquirer's merchant processing program. The agent may be liable for losses incurred on its merchant accounts. An agent is usually a small financial institution that wants to offer merchant processing services as a customer service. Agent banks that only refer merchants to an acquiring financial institution's program are known as referral banks.
Framework senses
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
- §1
- A member of a bankcard company that agrees to participate in an acquirer's merchant processing program. The agent may be liable for losses incurred on its merchant accounts. An agent is usually a small financial institution that wants to offer merchant processing services as a customer service. Agent banks that only refer merchants to an acquiring financial institution's program are known as referral banks.
- §1
- a bank that acts as an agent for a foreign bank
- §2
- a bank named by a lending syndicate of several banks to protect their interests