Definition

Connected to or involving multiple banks, especially in financial transactions or services.

Example

The interbank lending rate is crucial for understanding the cost of borrowing between banks.

Conversation

Have you heard about the new interbank system they’re implementing?

Yeah, I read something about it. It sounds pretty efficient.

I think it will really improve the way banks communicate with each other.

Definitely! An interbank network could save a lot of time for everyone.

Synonyms & Antonyms

Root Explanation

Interbank → It is formed from "inter-" (meaning between) and "bank" (from Old Italian *banca*, meaning a bench or table for money exchange). The word refers to transactions or activities that occur between banks.

Memory Tip

Think of transactions that happen 'between' ('inter-') different 'banks' — that's what interbank means.

Visually Confused Words