On-Us Entry

Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

Related Terms

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    Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...

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    The information printed on a check in magnetic ink. The MICR information helps MICR scanners retrieve important information from the check including the routing number, account number...

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