 | This article needs additional citations for
verification. (March 2020) |
A transit check or not on-us check is a negotiable item ( check) which is drawn on another bank than that at which it is presented for payment. [1]
For example, a check drawn on Bank of America, presented for deposit at Wells Fargo Bank, would be considered a transit item by Wells Fargo, while the same item presented for cash or deposit at Bank of America would be an on-us check. Routing numbers, as well as the bank name printed on the check, help to determine an item's classification.
- ^ Kagan, Julia. "On-Us Versus Other Forms of Transactions". Investopedia. Retrieved 26 March 2020.
 | This bank and insurance-related article is a stub. You can help Wikipedia by expanding it. |
| This article needs additional citations for
verification. (March 2020) |
A transit check or not on-us check is a negotiable item ( check) which is drawn on another bank than that at which it is presented for payment. [1]
For example, a check drawn on Bank of America, presented for deposit at Wells Fargo Bank, would be considered a transit item by Wells Fargo, while the same item presented for cash or deposit at Bank of America would be an on-us check. Routing numbers, as well as the bank name printed on the check, help to determine an item's classification.
- ^ Kagan, Julia. "On-Us Versus Other Forms of Transactions". Investopedia. Retrieved 26 March 2020.
|
| This bank and insurance-related article is a stub. You can help Wikipedia by expanding it. |