depositary bank

Definition of "depositary bank"
  1. The bank that first accepts a negotiable instrument or an order for money payment, unless it's presented for immediate over-the-counter payment
How to use "depositary bank" in a sentence
  1. The check was rejected by the depositary bank due to insufficient funds in the client's account.
  2. To process the international wire transaction, the company contacted their depositary bank.
  3. She was relieved when the depositary bank acknowledged the receipt of her money order for the mortgage payment.

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