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UCC4A definitions: Receiving bank

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Under Article 4A, which bank is the receiving bank?

This term is often misunderstood. Under UCC4A, the receiving bank is the bank to which the sender’s instruction is addressed. In many cases, it is the first bank involved in a transfer subject to UCC4A, and is often the ODFI when a transfer will be sent via ACH.


Learn more about Rayleen Pirnie’s webinar Merging ACH and UCC4A

First published on 07/05/2020

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