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Transit_check
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Transit check
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.
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.
See also
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This article is licensed under the GNU Free Documentation License.
Last updated on Tuesday April 25, 2006 at 05:11:45 PDT (GMT -0700)
View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation
This article is licensed under the GNU Free Documentation License.
Last updated on Tuesday April 25, 2006 at 05:11:45 PDT (GMT -0700)
View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation
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