A check is referred to as a(n) ________ when the depositary bank is the same bank as the payor bank.

Name: A check is referred to as a(n) ________ when the depositary bank is the same bank as the payor bank.
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An "on-us item" refers to a check where the depositary bank (where the check is deposited) is the same as the payor bank (the bank on which the check is drawn). This means the check can be processed internally by the same bank.

A Check Is Referred to as A(n) ________ When the Depositary