The bank where the payee or holder of a check has an account is known as the ________.

Question

Quizplus · Accepted Answer

The depository bank is the bank where the payee or holder of a check has an account and deposits the check for payment. The payer bank is the bank where the check was originally drawn from, the intermediary bank is a bank that may be involved in the processing and clearing of the check, and a private bank is a bank that offers banking services to high net worth individuals or companies.

The Bank Where the Payee or Holder of a Check