cashier's check

Cashier's Check

A check drawn by a bank upon itself and thus secured by the issuing bank.

Notes:

An individual could use a cashier's check instead of a personal check to guarantee that his or her funds for payment are available. A cashier's check is secured because the amount of the check must first be deposited by the individual into the issuing institution's account. The person or entity to whom the check is made out is then guaranteed to receive the money when cashing the check.

See also: Bounced Check, Certified Check, Check, Rubber Check

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Cashier's check

A check drawn directly on a customer's account, making the bank the primary obligor, and assuring firm that the amount will be paid.

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cashier's check

A check drawn by a bank on itself. A cashier's check is made out to a designated institution or person and must be paid for before it is issued. See also certified check.