Collecting Bank

Collecting Bank

A bank that assists in obtaining payment in accordance with draft payment terms.
References in periodicals archive ?
Unless the first-endorser is a client of the collecting bank, it would be very difficult for that bank to verify the authenticity of his endorsement, such that if it turns out that the same is a forgery, the bank can be held liable for the amount of the check.
Its corporate finance department has raised over US$6.6bn via IPOs, rights issues, private placements, collecting bank services and mergers and acquisitions.
for the Best Collecting Bank category and to Ventaja International Corporation for the Best OFW Collection Partner category after they have topped these categories for three straight years, See noted.
The utility was charging the bank collection charges from the consumer despite the fact that State Bank of Pakistan (SBP) had restricted all the banks from collecting bank charges from consumers of public utilities.
"Our global transaction services (GTS) and cash management teams are working towards being named the 'collecting bank' for most of the upcoming IPOs," Kundukulam said.
Have a great collecting Bank Holiday and bring fine cameras in to us to sell for you...
CTS is an online image-based cheque clearing system, wherein, the collecting bank branch would deploy scanned images along with the magnetic ink character of the cheque, which will be sent out electronically using their "capture system".
Collecting bank notes and coins has become a hobby for Kenyan expatriate James Mwai, because she realised how the currencies from different countries are unique.
Another trade finance practice is a documentary collection, whereby the exporter entrusts the collection of a payment against shipping documents to the remitting bank (exporter's bank), which sends documents to a collecting bank (importer's bank), along with instructions for payment.
" All cheques are sent to the HDFC, the collecting bank. It then sends them to our Delhi main office branch for clearance.
It is that of a collecting bank receiving funds from the drawee in order to remit them to the payee.

Full browser ?