Debtor Bank definition
Debtor Bank means a Financial Institution where the debtor’s payment’s account to be debited is held.
Debtor Bank. “Paying Bank” or “Issuing Bank” is the Bank having the relationship with the Payer and making the payment pursuant to the receipt of a Payment Instruction;
Examples of Debtor Bank in a sentence
For the avoidance of doubt: ▇▇▇▇▇▇ collects the Debtor via the Debtor himself, and not via the Debtor Bank.
Creditor Bank : is the bank where the Creditor's account is held and which has concluded an agreement with the Creditor, on the basis of which it receives and executes instructions from the Creditor to initiate the direct debit transaction by forwarding the collection instructions to the Debtor Bank.