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English definition of “collect”

collect

verb     /kəˈlekt/
[T] to buy and keep a particular type of thing as a hobby or an investment: She mostly collects American art.
[T] to bring information together from different places: collect information/data/evidence Market research companies collect data on consumers' preferences.
[T] FINANCE to ask for and get money that is owed: collect debts/fees/payments/taxes Collecting taxes on services is tricky, and e-commerce can only make it harder.collect revenue/rent Why not buy a property and collect the rent yourself?
[I or T] FINANCE to receive a payment that you have a right to have: collect insurance/a pension/social security Employees with more than 20 years service can collect a full pension.collect on insurance/an investment When he died, she collected on his life insurance.
[T] BANKING to arrange for the amount written on a cheque to be paid out of a bank account: When a bank clerk indorses a check, the bank collecting the check guarantees that the indorsement is genuine.
(Definition of collect verb from the Cambridge Business English Dictionary © Cambridge University Press)
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