Collecting bank definition

Collecting bank means a bank handling the item for collection except the payor bank.
Collecting bank means the intermediary appointed by the Issuer to withdraw the funds deriving from corporate events;
Collecting bank means a bank handling an item for collection except the payor bank; and

Examples of Collecting bank in a sentence

  • Bank, 440 N.W.2d 844 (Iowa 1989) (Collecting bank was on inquiry notice due to ambiguous Indorsements).

  • Because of the float, every delay means that the Collecting bank is losing spread.

  • Same as Collecting bank or Receiving bankPayeeThe beneficiary named by the presenting bank (drawer) on the payment itemPayment itemAny approved payment item (instrument) as provided under the Guidelines.

  • The personnel participating in cash count must sign the minutes and the NPD/PPMU or CIP Leader must also sign the minutes and approve the result.o Collecting bank statements and conducting the reconciliation between the balance on the bank statement and the balance in the Programme accounting records of deposits and withdrawals.

  • Quality:The Collecting bank is exposed to Operational Risk, failing to process some checks and ACH files in the legal timeframe.


More Definitions of Collecting bank

Collecting bank means a bank handling an item for collection except the payer bank.
Collecting bank means the main office of ______________________________ located at ___________________________________, or such other financial institution agreed to by Company.
Collecting bank means a bank collecting payment of a cheque or other document contemplated in section 81;
Collecting bank means a bank handling an item for
Collecting bank means any bank handling a check for forward collection, except the paying bank.
Collecting bank means the entity appointed by the Issuer to withdraw the funds deriving from transactions on the capital handled as part of the Corporate Events Support Service;
Collecting bank means a bank collecting payment of a cheque or other