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BOFD
(redirected from Bank of First Deposit)

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BOFDBank of First Deposit
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In the paper world, the checks must be deposited, which may not happen the same day they are received, and then must go from the bank of first deposit through the clearing system, with mail delivery in between each step.
Check 21 brings financial benefits to owners and managers by Sarich, John / Real Estate Weekly
The study also revealed that approximately 30 percent of checks are "on-us" items, meaning the bank of first deposit for these items is also the paying bank.
Results of study on retail payment systems. (Announcements) by Federal Reserve Bulletin
By eliminating daily paper deposits and instead transmitting them directly to the bank of first deposit via an electronic image file, deposits enter the check clearing process immediately.
FISC Announces FISCheckAccelerator(TM) as New Service for ... by Business Wire
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