On-Us Item

An on-us item is a check that is drawn on the same bank as the payee's account. This means that the check can be processed and cleared much faster than a check that is drawn on a different bank.

There are two main benefits to using on-us items. First, they are processed more quickly. This can be a significant advantage if you need to get paid quickly. Second, they are less likely to be returned for insufficient funds. This is because the check is drawn on the same bank as the payee's account, so there is less chance that there will be insufficient funds to cover the check.

If you are sending a check to someone who has an account at the same bank as you, you should consider using an on-us item. This will save you time and money and reduce the risk of the check being returned.

Here are some additional details about on-us items:

• On-us items are also known as same-bank items or local checks.
• They are typically processed within one business day.
• They are less likely to be returned for insufficient funds than out-of-state checks.
• Some banks charge a fee for processing on-us items.

If you have any questions about on-us items, you should contact your bank.