Who is collecting Banker :
The bank which collects the proceeds of cheques, drafts, pay orders and bills etc. from other banks for deposit into the accounts of its customers is called a collecting banker.
Who is Paying Banker :
'Paying Banker' is the 'drawee' bank or in other words the banker upon whom a cheque is drawn. It pays the cheque to the collecting banker who presents those before him on behalf of their customers. He is responsible to the customers and duty bound to make payments to the right persons in accordance with the instructions of the drawer.
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