paying bank definition

paying bank

Bank on which a check or draft is drawn; the bank which cashes it. Also called accepting bank, drawee bank, or payer bank.

paying bank is in the Accounting & Auditing, Banking, Commerce & Finance and International Trade & Relations subjects.

paying bank appears in the definitions of the following terms: bearer, bearer check, letter of credit (L/C), advising bank, stale check and presenting bank

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