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Showing 1–4 of 4 articles for “collecting bank”

Liability for Forged Checks When Collecting Banks Bear the Loss

Philippine Supreme Court ruling on collecting bank liability for forged endorsements, negligence standards, and the fictitious payee rule.

Who Pays When a Check's Payee Is Faked? Collecting Bank's Liability for Forged Endorsements

Philippine Supreme Court clarifies when a collecting bank must return funds paid out on checks with forged endorsements to an impostor.

Check Fraud Liability: When a Drawee Bank Can Recover From a Collecting Bank

Philippine Supreme Court clarifies when a drawee bank can avoid liability for unauthorized check payments and how drawers can recover directly from negligent collecting banks.

Crossed Checks and Collecting Banks: Who Bears the Loss for Wrong Endorsement?

Learn when a collecting bank is liable for depositing a crossed check into the wrong account, and the duty to verify endorsements.