Collection Items

What is Collection Items?

Collection Items meaning in finance or banking terminology / glossary / dictionary is:
Items-such as drafts, notes, and acceptances-received for collection and credited to a depositor’s account after payment has been received. Collection items are usually subject to special instructions and may involve additional fees. Most banks impose a special fee, called a collection charge, for handling collection items.

 

reference: Dictionary of Banking Terms and Phrases helpwithmybank.gov