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

  • ACH Operator

    ACH operator is the term used to describe the switching mechanism within the settlement network that provides information to the network participants. The ACH operator calculates the...

    Learn More
  • Effective Rate

    The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...

    Learn More