collecting bank
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 294 U.S. 216 - Jennings v. United States Fidelity & Guaranty Co. · 1935Most cited · 199 citing opinions
the better doctrine is, where the common law prevails, that the agency of the collecting bank is brought to an end by the collection of the paper, the bank from then on being in the position of a debtor, with liberty, like debtors generally, to use the proceeds as its own
United States Code
12 U.S.C. § 5002 — for purposes of this chapter
The term “collecting bank” means any bank handling a check for collection except the paying bank.