certified check

(redirected from Certified Checks)
Also found in: Dictionary, Thesaurus, Legal.
Related to Certified Checks: certified cheque

Certified check

A bank guaranteed check for which funds are immediately withdrawn, and for which the bank is legally liable.

Certified Check

A check whose payment is guaranteed by a bank. In exchange for a fee, a bank issues a certified check to a person, who is very often both the payer and the payee. That is, a person gives the bank the amount for which the certified check is written, either in cash or by deducting the appropriate amount from the payer's account; the bank then makes the check payable to that person. The person may cash the check at any bank, or deposit it at a different bank without being subject to a check hold. A certified check is also known as a registered check or banker's draft. See also: Traveler's cheque, Commercial draft.

certified check

A check that a financial institution draws on an individual's account and then certifies to indicate that sufficient funds are available to cover the amount of the check when cashed.

certified check

A check drawn on the bank customer's account,with the customer as the drawer and the check certified by the bank as payable.

References in periodicals archive ?
Over 20 bidders attended the auction, with certified checks in the amount of $160,000 as a pre-requisite to bid.
Note: Final regulations on the expanded definition of cash (which includes money orders, certified checks, etc.
The electronic checks will be similar to paper checks in that they are an open payment instrument, which allows for third-party services and a variety of payment options, including travelers', cashiers' and certified checks.
ESNY provides bonded independent security for escrow deposits, assuming direct responsibility for escrow funds at every step of the escrow process, "right through to the delivery of signed and certified checks at closings.
He explained that DOT is working with contractors on such issues as using bid bonds instead of cash or certified checks with bid packages, allowing contractors to transport cranes on at least part of a day before a holiday, expediting payments so that contractors are compensated quicker based on completion of a smaller percentage of work, and setting reasonable goals regarding MBE/WBE contracts and then seeing that the goals are met.

Full browser ?