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Demand Deposit Account
Traditional savings and checking accounts are generally demand deposit accounts.
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Auxiliary On-Us Field
A field on the magnetic ink character recognition (MICR) line of a check or share draft. This is an optional field that can be found to the left of the routing number. The presence of this field makes the check in-eligible to be used as a source document for accounts receivable conversion (ARC), back office conversion (BOC), and point-of-purchase (POP) entries.
Related Terms
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Surcharge
A surcharge is an extra fee that’s added to the regular total amount.
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