For example, a check drawn on Bank of America, presented for deposit at Wells Fargo Bank, would be considered a transit item by Wells Fargo, while the same item presented for cash or deposit at Bank of America would be an on-us check.
To illustrate, a check issued by Bank of America and deposited at Wells Fargo Bank is considered a transfer item, whereas the same check, when presented for payment or deposit at Bank of America, is regarded as an internal check.