On-Us Item

On-Us Item

What is an article about us

An article about us is a check or draft which is presented to the bank where the author of the check has the funds on deposit. The check can be cashed or deposited into another account. Of course, the draw account must have a sufficient balance to pay the check.

DISCOVER the article about us

Items on us can also be debits or wire transfers. As with checks, electronic items on us refer to the draw and payment accounts in the same bank. Checks on site are also called “house checks”.

The articles about us can be very beneficial for the banks that carry out the transactions as they often get income from both the buyers and the issuers side. In transactions with us, it is often not necessary to go to an outside network to obtain authorization or funds for exchanges.

On-Us against other forms of transactions

In addition to the articles about us, there are a number of other categories of banking transactions. These include, but are not limited to, a transaction that is not with us, an international or cross-border transaction and intra-regional transactions. Items unrelated to us arise when the acquirer and the issuing bank are separated. In a typical credit card process, for example, an acquirer (merchant’s bank) both processes and settles a merchant’s credit card transaction. After a merchant swipes a credit card, the merchant’s bank requests a sales authorization. This request is forwarded to the card issuing bank before the end of the sale.

International or cross-border transactions are defined as when an acquirer and an issuer are from different countries. Intra-regional transactions occur when buyers and issuers are from different regions but still within an established geographic group, such as the Single Payment Area in Europe (SEPA) or GIM UEMOA, a banking group of the Economic and Monetary Union of West Africa. GIM UEMOA represents more than eighty regional financial institutions and more than 80 million people.

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