Collecting Bank
Collecting Bank definition :
A bank that assists in obtaining payment in accordance with draft payment terms.
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COLLECTING BANK - A bank that assists in obtaining payment in accordance with draft payment terms.
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Collecting bank
Any bank, other than the remitting bank, involved in the processing of the Collection.
Collecting Bank
A bank involved in the collection process. In this process if presentation is made to the drawee, it becomes also "the presenting bank."
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Collecting Bank - The bank that acts as the agent of the seller to collect payment(s) from the buyer and then transfer the payment(s) to the remitting bank (seller's bank).
The protection to the collecting banker is in no way affected by the cheque being crossed not negotiable, or by the nature of the fraud or crime by which the cheque was obtained by the customer or any previous possessor, ...
In this type of crossing the collecting banker is supposed to credit the amount of the cheque to the account of the payee only.
The largest component of float is federal reserve float , created when a Federal Reserve Bank credits the reserve account of a collecting bank before it has collected from the paying bank.
A service enabling a collecting bank to deposit checks drawn on a limited preselected group of payer institutions.
guarantee
See guaranty.
No Protest
Instructions given to a collecting bank not to protest a specific item in the event of non payment or non acceptance.
Normal annuity form
The manner in which retirement benefits are paid out.
The bank instructed to handle collections, which in turn instructs the collecting bank.
Français: Remitting Bank
Español: Banco remitente
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Instructions given to a collecting bank that drafts falling due for payment are to be formally presented to the drawee by a notary, who is to formally record any default.
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Collateralized Loan Obligation - CLO
Collateralized mortgage obligation
Collateralized Mortgage Obligation - CMO
Collecting Bank
Collection
Collection float
Collection fractions
Collection period
Collection policy
Collection ratio ...
 See also: Banks, Expense, Compensation, Capital structure, Values
  
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