Depositary Bank; Intermediary Bank; Collecting Bank; Payor Bank; Presenting Bank; Remitting Bank

“Depositary Bank”; “Intermediary Bank”; “Collecting Bank”; “Payor Bank”; “Presenting Bank”; “Remitting Bank.” In this division unless the context otherwise requires: (a) “Depositary bank” means the first bank to which an item is transferred for collection even though it is also the payor bank; (b) “Payor bank” means a bank by which an item is payable as drawn or accepted; (c) “Intermediary bank” means any bank to which an item is transferred in course of collection except the depositary or payor bank; (d) “Collecting bank” means any bank handling the item for collection except the payor bank; (e) “Presenting bank” means any bank presenting an item except a payor bank; (f) “Remitting bank” means any payor or intermediary bank remitting for an item. Source: PL 3-56, § 1 (§ 4105).