Question

What is settlement In bank ??
Full explaination pls !!

Answer 1

ANSWER-:

A settlement bank is the last bank that receives and reports the settlement of a transaction between two entities. This bank partner with the entity being paid, most often a merchant.

A settlement bank is a merchant’s primary bank for receiving payment; it helps make electronic transaction processing available for merchants. It is also referred to as the acquiring bank or an acquirer. Merchants are required to have a good relationship with settlement banks to ensure fast and efficient payments for their business and clients.

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Answer 2

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A settlement bank is the last bank that receives and reports the settlement of a transaction between two entities. This bank partner with the entity being paid, most often a merchant.