"AA bank is entitled to receive payment on behalf of company BB." Isn't this a simple (corporate) bank account relationship? If so, then with respect to an incoming payment for company BB, AA bank is simply the beneficiary bank*.
I think! Maybe someone else could confirm..
AA bank receives payment from customers who pay their phone bill to a telephone company. But the customers don't have to go to the telephone company to make payments, and they just have to pay the phone bills when they're depositing money in AA bank. I wonder how to describe the relationship between AA bank and the telephone company.
I think "beneficiary" and "beneficiary's bank" may be ok