Payor bank definition

Payor bank means a bank that is the drawee of a draft.
Payor bank means a bank that is a drawee of a draft. 1620
Payor bank means a bank that is the drawee of a draft, including a bank that is identified as the drawee of on a check solely by inclusion of its routing number on the check.

Examples of Payor bank in a sentence

  • RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER 440.4401 Payor bank; charge against customer's account.Sec.


More Definitions of Payor bank

Payor bank means “a bank that is the drawee of the draft.” Ind. Code § 26-1-4-105(3).
Payor bank means, with respect to a Payment Order, a bank or other person (other than a Customer Payor or any branch or other office of Alfa-Bank) that sends or delivers such Payment Order to Alfa-Bank (including to any of its branches or other offices, including any of its Non-Russian Offices), the payment with respect to which Payment Order is to be made to Alfa-Bank through making (or causing to be made) a deposit into (or other credit to) a bank account maintained at a Third-Party Depositary Bank or a Depositary Bank that is a subsidiary of Alfa-Bank (whether such payment is effected through: (a) such Payor Bank crediting such payment to an account of Alfa-Bank (i.e.,such Payor Bank is a Third-Party Depositary Bank or a Depositary Bank that is a Subsidiary of Alfa-Bank), (b) such Payor Bank sending a SWIFT MT202 payment order or similar message to a Third-Party Depositary Bank or a Depositary Bank that is a subsidiary of Alfa-Bank for the benefit of Alfa-Bank or (c) otherwise). For the purpose of clarification, a Payor Bank could be either outside of Russia (including a Non-Russian Office of a Russian Bank) or inside of Russia (including a Russian branch of a Non-Russian Bank).
Payor bank means a bank by which an item is payable as drawn or accepted THAT IS THE DRAWEE OF A DRAFT;
Payor bank means a bank by which an item is payable as drawn or accepted;
Payor bank means, with respect to a Payment Order, a bank or other person (other than a Customer Payor or any branch or other office of Alliance) that sends or delivers such Payment Order to Alliance (including to any of its branches or other offices other than any of its Non-Kazakhstan Offices), the payment with respect to which Payment Order is to be made to Alliance through making (or causing to be made) a deposit into (or other credit to) an account maintained at a Depositary Bank (whether such payment is effected through (a) such Payor Bank crediting such payment to an account of Alliance (i.e., such Payor Bank is a Depositary Bank), (b) such Payor Bank sending a SWIFT MT202 payment order or similar message to a Depositary Bank for the benefit of Alliance or (c) otherwise). For the purpose of clarification, a Payor Bank could be either outside of Kazakhstan (including a Non- Kazakhstan Office of a Kazakhstan Bank) or inside of Kazakhstan (including a Kazakhstan branch of a Non-Kazakhstan Bank).
Payor bank means a bank that is a drawee of a draft. 1616
Payor bank means the United States or foreign bank ordered in a transaction to make payment to the payee(s) named onor for the transaction.