Stuart Stone
Isn�t this overcomplicating things?
Bottom line for me: If I am given a cheque from ABC Bank, and I do my banking/have an account #000000001 with XYZ Bank, I go to XYZ Bank and PRESENT that cheque for payment into account #000000001.
Whatever XYZ Bank does behind the scenes to have the funds transferred from ABC Bank to XYZ Bank account #000000001 is none of my business.
Section 84 of the Canadian Act and Section 50 of the Australian Bills of Exchange Act says: 50 Rules as to presentment for payment (1)Subject to the provisions of this Act, a bill must be duly presented for payment. If it be not so presented, the drawer and indorsers shall be discharged.
It doesn�t say it has to be presented to the drawee, so present the completed Bill of Exchange/Cheque to the bank you/the corporation is using, for deposit into the designated account. That�s what logic tells me.
The practicalities of the situation may mean that I need to sit down with the bank manager & educate them that the completed bill is now a cheque before they deposit it, but once that relationship is established, they can then instruct their staff accordingly.