Learn about the Bank of First Deposit (BOFD) and its role in check processing. Discover key differences between "on-us" and "transit" items and how they affect your transactions.

Organizations representing the payments industry are coming out in support of the federal government’s move to eliminate paper checks for disbursements. Nacha, the governing body that oversees the ACH ...

Hopefully, we'll all learn something. First, banks do not process each individual transaction (deposit or withdrawal) as it happens. As transactions come to the bank during the day, they are collected ...

A transaction account is a bank account that provides individuals with immediate access to money. Transaction accounts have full liquidity to pay bills and make everyday purchases. A common type of ...

Planning a big cash deposit? Here's what to know before you go -- and the transaction amount that triggers a government report.

Online banks typically offer higher interest rates and lower fees than traditional banks, but depositing cash can be tricky without physical branches. If you’re a server, bartender or small business ...

At any ATM, you will find a cash withdrawal machine, a cheque deposit kiosk and a cash deposit machine. Representational Image: Photo: Pixabay Most of us are not aware about portals which makes both ...

In 2008, in the midst of a financial crisis, federal regulators extended bank deposit guarantees beyond the statutory $250,000 limit to cover all “transaction,” or checking, deposits. Later codified ...