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Glossary termPublished inAMLR

Correspondent relationship

What does "Correspondent relationship" mean under the AMLR?

  • (a) the provision of banking services by one credit institution as the correspondent to another credit institution as the respondent, including providing a current or other liability account and related services, such as cash management, international funds transfers, cheque clearing, payable-through accounts and foreign exchange services
  • (b) the relationships between and among credit institutions and financial institutions, or between and among crypto-asset service providers, where similar services are provided by a correspondent institution or crypto-asset service provider to a respondent institution or crypto-asset service provider, including relationships established for securities transactions or funds transfers or transactions in crypto-assets

Defined in / by

Last updated: 22 August 2026.

Regulations

  • Anti-Money Laundering Regulation (AMLR)

    The AMLR is Regulation (EU) 2024/1624. It applies from 10 July 2027 and is directly applicable, so from that date customer due diligence, beneficial ownership, reporting and internal controls come from EU law rather than national statute. Cash payments for goods and services are capped at €10,000. Football clubs and agents follow on 10 July 2029.

    Next
    AMLR applies (Art. 90) and the AMLD6 transposition deadline. References to Directive (EU) 2015/849 are construed as references to the AMLR and AMLD6, per the correlation table in Annex VI (Art. 89); the repeal itself sits in AMLD6

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