The first bank to receive a check for payment is the intermediary bank.

Name: The first bank to receive a check for payment is the intermediary bank.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

The first bank to receive a check for payment is the depositing bank, which then sends it to the paying bank for clearance. The intermediary bank may come into play if there are multiple banks involved in the process or if funds are transferred internationally.

The First Bank to Receive a Check for Payment Is