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English definition of “paying bank”

paying bank

noun [C]
 
 
( also paying banker)
BANKING, FINANCE the bank of the person or company that has written a cheque, that has to pay the amount written on it: A paying bank is under no obligation to pay a forged cheque even though it is supported by the bank's guarantee card.
(Definition of paying bank from the Cambridge Business English Dictionary © Cambridge University Press)
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