Banking terms in the payments glossary
Banking terms, each a short page that opens with the answer.
Correspondent banking
The arrangement where one bank holds accounts and executes payments for another, enabling cross-border transfers between banks with no direct relationship.
Pass-through deposit insurance
FDIC coverage that extends through a custodial account to the underlying owners of the funds, when the FDIC’s pass-through conditions are met.
Routing number
The nine-digit code that identifies a US financial institution on payment rails: it tells ACH, Fedwire, and check systems where an account lives.
See it on your own flows.
A 30-minute walkthrough of a live account and the screening record behind each payment.