collecting bank


collecting bank
= remitting bank
The bank to which a person who requires payment of a cheque (or similar financial document) has presented it for payment.

Accounting dictionary. 2014.

Look at other dictionaries:

  • collecting bank — see bank Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Collecting bank —   An ISO term. A bank requested to perform a collection service.   ISO Collection Order Form term. The bank requested to collect the remittance. 5*35x …   International financial encyclopaedia

  • collecting bank — remitting bank The bank to which a person who requires payment of a cheque (or similar financial document) has presented it for payment …   Big dictionary of business and management

  • collecting bank — A bank that assists in obtaining payment in accordance with draft payment terms. Bloomberg Financial Dictionary …   Financial and business terms

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