Cryptocurrency Q&A
What is the meaning of onus in bank?
What is the meaning of onus in bank?
Chiara
Thu Oct 24 2024
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5 answers
840
I'm trying to understand the meaning of the term 'onus' specifically in the context of banking. Could someone explain what it signifies and how it applies in financial transactions or agreements between the bank and its customers?
5 answers
QuasarGlider
Sat Oct 26 2024
An on-us item refers to a specific type of financial instrument.
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BitcoinWarrior
Sat Oct 26 2024
It is either a check or a draft that is presented to a particular bank.
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Eleonora
Fri Oct 25 2024
This bank is where the check writer maintains their funds on deposit.
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Enrico
Fri Oct 25 2024
The defining characteristic of an on-us item is that it is not presented to the depositor's bank.
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EmeraldPulse
Fri Oct 25 2024
In some instances, it's possible for both the check writer and depositor to utilize the same bank.
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