Who is the payments-related standards group that servers as administrator/coordinator of US private sector voluntary standardization system

What is BOFD (Bank of First Deposit)?

A written order directing a bank to pay money as instructed...

Bank handling an item for collection except the payor bank....

This is describes as a state or nationally chartered bank, state or federally charted savings and loan association, a savings bank, or credit union.

The person ordered in a draft to make a payment

What does ECCHO mean?

This governs the collection of cash items and returned checks through the Federal Reserve Banks and references Regulation J and Regulation CC for related warranties

This is the bank to which an item is transferred in course of collection except the depositary or payor bank?

This is the descriptive information comprised of numbers and special symbols printed in magnetic ink at the bottom of a physical check

This is the bank that is the drawee of a draft

This bank is the bank presenting an item except the payor bank

Federal regulation that governs the availability of funds deposited in checking accounts and the collection and return of checks and substitute checks

Federal regulation the governs the collection of checks/other items by Federal Reserve Banks by establishing procedures, duties and responsibilities among Federal Reserve Banks, senders and payors of checks and other items and senders and recipients of Fedwire funds transfer

Provides general business law of a state regulating sale of goods, commercial paper (checks), bank collections and secured transactions in personal property