A bank's customer may cash a check or conduct an electronic debit or transfer from his/her account if the funds are available to carry out the transaction. In an on-us item transaction funds are drawn and paid from the same bank where the account is in existence.
Related information about on-us item:
- On-Us Item Definition | Investopedia
A check or draft that is presented to the bank where the check writer has the funds on deposit. The check can be cashed or deposited into another account.
- On-Us Item: Definition from Answers.com
On-Us Item 1. Check payable from funds on deposit at the same bank where it is presented for collection.
- What is on-us item? definition and meaning
Definition of on-us item: A bank's customer may cash a check or conduct an ... In an on-us item transaction funds are drawn and paid from the same bank where ...
- Business Checking - Choice Financial - Banking | Insurance ...
... each additional check $.15; First 50 on us items are free; each additional on us item $.05; First 100 on other items are free; each additional on other item $.07 ...
- Business Checking Account | Park Bank
... fee $17.95 – but with an eStatement it's only $14.95; Check/Debit $0.24; Deposit $0.62; Other credit $.15; Deposit items: on us item $0.09; not on us item $0.12 ...
- handling under - Marquette Law Scholarly Commons
Having discussed the "on us" item where the depositary bank is also the payor bank, the situation of the check drawn on another bank re- mains to be ...
- PAYMENT SYSTEMS CHECKLIST - Webs
(1) Depositary bank receives item and gives provisional credit for the deposit by midnight of the banking day it receives the item (unless it's an "on-us" item) ...
- MidSouth Bank - Business Checking
... 10% reserve on this account offsets any service charge; $10 maintenance fee; $0.25 charge per deposit; $0.065 per on-us item deposited and $0.08 per other ...