Correspondent Tie Up Agreements

Why Is It Necessary to Have a Correspondent Tie-up Agreement with a Licensed Entity? A point often overlooked by those venturing into the cross-border money transfer business is that even though they may have managed to secure license coverage in the origination country, they still need to have the same true for the beneficiary country. More importantly, the two entities must have a correspondent tie-up agreement in place. When you are being provided sponsorship by a bank &/or a licensed financial institution (LFI), it is important you understand how correspondent relationships work. ...