Fact Pattern 19-3
Ryley draws a check,on his account in Second National Bank in New York,payable to Tuner TV,Inc. ,in San Francisco.Tuner deposits the check in its ac?count at US Bank.US deposits the check in the Federal Reserve Bank of San Francisco,which transfers it to the Federal Reserve Bank of New York.That Federal Reserve bank sends the check to Second National.
-Refer to Fact Pattern 19-3.US Bank (Tuner's bank)is
A)the cashing bank.
B)the depositary bank.
C)the intermediary bank.
D)the payor bank.

Question

Fact Pattern 19-3 
Ryley draws a check,on his account in Second National Bank in New York,payable to Tuner TV,Inc. ,in San Francisco.Tuner deposits the check in its ac?count at US Bank.US deposits the check in the Federal Reserve Bank of San Francisco,which transfers it to the Federal Reserve Bank of New York.That Federal Reserve bank sends the check to Second National.
-Refer to Fact Pattern 19-3.US Bank (Tuner's bank)is
A)the cashing bank.
B)the depositary bank.
C)the intermediary bank.
D)the payor bank.

Quizplus · Accepted Answer

US Bank is the depositary bank because it received the deposit of the check from Tuner TV, Inc.