What is an inward check? What is a debit on-us check?
"Inward check" is probably what most bankers refer to as an "in-clearing check," which is a check that arrives at the bank it's drawn against along with other checks that were deposited at other banks. The process of in-clearing is the way checks "arrive home," and the bank has to decide whether those checks are "good" for posting to the accounts on which they are drawn. Contrast "in-clearing" with "over-the-counter" checks, which are deposited at the very same bank they are drawn against.
The term "debit on-us" is often used by a bank to indicate that the check in question was presented for payment across the bank's teller counter. The term "on-us" refers to checks that are deposited to the same bank they are drawn on.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
"Inward check" is probably what most bankers refer to as an "in-clearing check," which is a check that arrives at the bank it's drawn against along with other checks that were deposited at other banks. The process of in-clearing is the way checks "arrive home," and the bank has to decide whether those checks are "good" for posting to the accounts on which they are drawn. Contrast "in-clearing" with "over-the-counter" checks, which are deposited at the very same bank they are drawn against.