On-Us Item

What is an 'On-Us Item'

An on-us item is 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. Of course, the drawing account must have a sufficient balance to pay the check.

BREAKING DOWN 'On-Us Item'

On-us items can also be electronic debits or transfers. As with checks, electronic on-us items refer to the drawing and paying accounts at the same bank. The on-us checks are also referred to as "house checks."

RELATED TERMS
  1. Bank of First Deposit - BOFD

    The bank where a check is initially deposited to an account. ...
  2. Checking Account

    A transactional deposit account held at a financial institution ...
  3. Negative Float

    The period of time between when a bank customer writes a check ...
  4. Crossed Check

    Any check that is crossed with two parallel lines, either across ...
  5. Check Hold

    Denotes a period of time equal to the maximum number of days ...
  6. Bounced Check

    A slang word for a check that cannot be processed because the ...
Related Articles
  1. Investing

    Banking: Check-Writing 101

    By Amy FontinelleThe ability to write checks from your checking account allows you to pay bills or send money to relatives more securely than using cash and less expensively than using a cashier's ...
  2. Investing

    Banking: Making Deposits

    By Amy FontinelleMaking deposits is a key part of having a checking account. If you don't make deposits, your checking account will eventually run out of money and you won't be able to use it ...
  3. Personal Finance

    What is a Demand Deposit?

    A demand deposit is any type of account where the money in the account may be withdrawn at any time without prior notice to the financial institution.
  4. Investing

    10 Bank Promotions That Pay You To Open An Account

    Find out which banks are running cash promotions this summer.
  5. Markets

    5 Useless Financial Products That Will Disappear Soon

    Bank deposit slip: what's that? Everyday tools of our financial life that went from indispensable to obsolete.
  6. Personal Finance

    Where To Put Your Cash: Call Deposit Vs Time Deposit Accounts

    Time deposit accounts and call deposit accounts allow customers to earn higher interest in exchange for less access to their cash.
  7. Investing

    The Best Small Business Checking Accounts in 2016

    Accounts with big banks offer frills, such as mobile and text-based banking – but for small businesses, local banks and credit unions can save money.
  8. Personal Finance

    Is A Premium Checking Account Worth It?

    Premium checking accounts give you free checking and other perks in return for keeping a certain balance in the bank. Is that the best use of your money?
  9. Personal Finance

    Review: Discover Checking Account

    Will having a Discover checking account save you money? It will save you fees.
  10. Personal Finance

    Understanding Savings Accounts

    A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.
RELATED FAQS
  1. Could I deposit a check I received from Edward Jones, cancelling my IRA account, ...

    I had a SIMPLE Individual Retirement Account through Edward Jones while working for M. Potteiger, Inc. I stopped working ... Read Answer >>
  2. For what types of accounts are demand deposits available?

    Learn about the different types of accounts designated as demand deposit accounts, such as savings accounts and money market ... Read Answer >>
  3. What are the pros and cons of online checking accounts?

    Learn about the ways an online checking account can save you time and money, but understand the drawbacks before signing ... Read Answer >>
  4. What is the difference between a demand deposit and a term deposit?

    Understand the meaning of demand deposits and term deposits, and learn about the major differences between these two types ... Read Answer >>
  5. How liquid are money market accounts?

    Understand the characteristics that distinguish money market accounts from checking, savings account and money market funds ... Read Answer >>
  6. What are the differences between preference shares and bonds?

    Learn what information banks keep on file for their customers, and understand how this information can be used to deny an ... Read Answer >>
Hot Definitions
  1. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  2. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  3. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
  4. Russell 3000 Index

    A market capitalization weighted equity index maintained by the Russell Investment Group that seeks to be a benchmark of ...
  5. Enterprise Value (EV)

    A measure of a company's value, often used as an alternative to straightforward market capitalization. Enterprise value is ...
  6. Security

    A financial instrument that represents an ownership position in a publicly-traded corporation (stock), a creditor relationship ...
Trading Center