GLOBAL PAYMENTS KNOWLEDGEISO 20022 / SWIFT / SEPA / MT / MX
PAYMENTSSIGNAL

The interactive academy for the standards, messages, and rails that move money.

PROGRESS
DRILL · SETTLEMENT METHOD: INGA VERSUS INDA

The words behind Settlement method: INGA versus INDA

Read the plain-language definition, then name the term it describes.

The element on an interbank message stating which bank settles this leg and how — commonly INGA or INDA for a correspondent account.

Step 1 of 2

THE DRILL AS TEXT

  1. The element on an interbank message stating which bank settles this leg and how — commonly INGA or INDA for a correspondent account.
    • Settlement method
  2. Whichever of two correspondent banks holds the account, in the transfer currency, for the other one — where the settlement entry is posted.
    • Account servicing institution

This drill is built from Settlement method: INGA versus INDA — it rearranges material written and sourced on that page rather than asserting anything new, so every claim in it is checkable there.