Banks in the collection process that are not the depository or payer bank are called ________ banks.

Name: Banks in the collection process that are not the depository or payer bank are called ________ banks.
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Banks in the collection process that are not the depository or payer bank are called intermediary banks. These banks play a role in transferring the funds between the payer bank and the depository bank, but they do not hold the funds themselves.

Banks in the Collection Process That Are Not the Depository