During the check payment process which party encodes, proofs, captures, and sorts the check?

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During the check payment process which party encodes, proofs, captures, and sorts the check?

a. payee
b. drawee
c.depositary bank
d. drawer

2006-07-25 12:15:14 · 4 answers · asked by Nice girl 3 in Business & Finance ➔ Credit

4 answers

The depository bank for the payee. The payee deposits the check payment into his account and the bank then processes the check and sends it to a federal reserve bank for return to the bank of the drawer.

2006-07-25 12:25:55 · answer #1 · answered by mamajackie 1 · 0⤊ 0⤋

The bank of first deposit. Sometimes called depository bank.

2006-07-25 19:41:29 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋

c. the depository bank

2006-07-25 19:18:33 · answer #3 · answered by mockingbird 7 · 0⤊ 0⤋

i think it's c.

2006-07-25 19:18:32 · answer #4 · answered by Poet 4 · 0⤊ 0⤋