Bi-wire cable for non-biwire speaker?

Hi,

Can I use a bi-wire speaker cable on a non-biwire speaker? Actually, I just brought a new speaker and the new speakers use non-biwire. So, while I'm waiting for new speaker cable, I want to use the biwire speaker cable on the new speaker by plugging in one banana connector into another banana connector and then to the speaker connector. I'll separate all the black and red like

Black low requency into black high requency and then to the black speaker post

Red low requency into red high requency and then to the red speaker post

Is this the right way to do and my speaker won't be damaged by this setup?

Thanks for your help!
Tran