Quote:
Originally Posted by nt99
Nice. Would their intermediary bank on that form be able to help us at all? I'm not even real sure what an intermediary bank is...but obviously sounds like some go-between.
|
An intermediary is a land-based bank. Basically the offshore banks have an account with the Intermediary where all the money that is wired goes into. Then the Intermediary signals the offshore bank that the wire has been received and this is the account its for, this is the "For Further Credit To" sections of wires.
The offshore bank then updates their account info that the money for Mr. X of Account ####'s with the money being received.