A(n)________ bank is a bank other than the first bank and the last bank in the check collection process that receives a transferred check.
A)depositary
B)certifying
C)wholesale
D)intermediary
E)on-us

Question

Quizplus · Accepted Answer

When a depositary bank (the first bank in the check collection process)receives a check,it must present the check at the payor bank (the last bank in the check collection process)or send it through intermediary banks to reach the payor bank.

A(n)________ Bank Is a Bank Other Than the First Bank