GuideUpdated Nov 2026 · 1 min read
Business Correspondent
A business correspondent is an agent engaged by a bank to give basic banking services where it has no branch.
A business correspondent is an agent engaged by a bank to give basic banking services where it has no branch. The bank stays responsible for the agent's work.
What a BC Does
- check_circleOpens basic accounts.
- check_circleTakes deposits and pays withdrawals.
- check_circleHelps with remittances.
FAQs
Who is responsible for a BC's actions?expand_more
The bank that engages the BC.
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