Business, Legal & Accounting Glossary
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.
BOFD
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This glossary post was last updated: 19th November, 2021 | 0 Views.