Bank Of First Deposit

Business, Legal & Accounting Glossary

Definition: Bank Of First Deposit


Bank Of First Deposit

Quick Summary of Bank Of First Deposit


The bank in which a check is originally deposited to an account. If the check is drawn on the bank in which it is deposited, it is settled in house. If it is drawn on a different bank, it is processed through the Federal Reserve System or through a private clearinghouse.




Synonyms For Bank Of First Deposit


BOFD


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Bank Of First Deposit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 08, 2021 https://payrollheaven.com/define/bank-of-first-deposit/.
Chicago Manual of Style (CMS):
Bank Of First Deposit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/bank-of-first-deposit/ (accessed: December 08, 2021).
American Psychological Association (APA):
Bank Of First Deposit. PayrollHeaven.com. Retrieved December 08, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/bank-of-first-deposit/

Definition Sources


Definitions for Bank Of First Deposit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 19th November, 2021 | 0 Views.