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In this Article unless the context otherwise requires: (a) 'Depositary bank' means the first bank to which an item is transferred for collection even though it is also the payor bank; (b) 'Payor bank' means a bank by which an item is payable as drawn or accepted; (c) 'Intermediary bank' means any bank to which an item is transferred in course of collection except the depositary or payor bank; (d) 'Collecting bank' means any bank handling the item for collection except the payor bank; (e) 'Presenting bank' means any bank presenting an item except a payor bank; (f) 'Remitting bank' means any payor or intermediary bank remitting for an item.