Depository transfer check(redirected from Depository Transfer Checks)
Depository transfer check (DTC)
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Depository Transfer Check
A check made by a bank to a company. A depository transfer check is useful when a company collects revenue at multiple locations in a given day. For example, if a company has several branches in the same city, the company's bank may collect funds from all locations, amass them in a single location, and then issue the depository transfer check to the company. The company may then deposit the check at that bank or at another one. A depository transfer check physically appears like an ordinary check, with the only difference being that it states "depository transfer check" on it.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved