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Collecting Bank

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Collecting Bank
A bank that assists in obtaining payment in accordance with draft payment terms.
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1) Collecting banks frequently route checks through intermediaries, such as correspondent banks or Federal Reserve Banks, which ultimately deliver the checks to the payor banks.
Business-to-business payments and the role of financial electronic ... by Young, Florence M. / Federal Reserve Bulletin
KEIC also named Center Bank as a co-defendant in the action based on a claim that the Bank acted negligently in its capacity as a collecting bank for these bills of exchange.
Center Financial Provides Update on KEIC Litigation by Business Wire
A collecting bank could share data and images with the paying bank, allowing fraud review and decision-making to happen in real time.
NCR and Advanced Software Design Corporation Team to Bring Fraud ... by Business Wire
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