ELI5: Explain Like I'm 5

On-us check

A check is a piece of paper that you can use to pay for things instead of using money. A on-us check is a special kind of check that is written from one person's bank account to another person who also has an account at the same bank.

When you write a on-us check, you don't have to worry about the money leaving your bank and going to another bank. It stays right in your bank account and goes to the other person's account in the same bank. This is why it's called "on-us" because the money is still within the same bank.

The good thing about on-us checks is that they usually clear faster because the bank doesn't have to send the money to a different bank for processing. This means the person you're giving the check to can get their money faster.

So, if you have a friend who also has an account at the same bank as you do, you can write them a on-us check to pay them for something you owe them. It's like giving them your money directly and they can use it right away.