depositary bank
Defined in 1 dictionary — U.S. Code
United States Code
12 U.S.C. § 5002 — for purposes of this chapter
The term “depositary bank” means—
(i) the first bank to which a check is transferred, even if such bank is also the paying bank or the payee; or
(ii) a bank to which a check is transferred for deposit in an account at such bank, even if the check is physically received and indorsed first by another bank.