certified check


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Related to certified check: 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A bank guaranteed check for which funds are immediately withdrawn, and for which the bank is legally liable.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 ?
A BID BOND, BANK DRAFT, CERTIFIED CHECK, OR LETTER OF CREDIT FOR 10% OF
Buchman took to secure the certified check, the bank's representative telephoned the bank's counsel to confirm the bidding instructions and, for the first time, learned of the error in the bidding.
A bid bond, certified check, bank draft or irrevocable letter of credit must accompany a bid under $250,000.
Certified checks could become a popular means of payment, and banks might see their liabilities shifting to outstanding certified checks from deposits, a development that might make them warier about lending.
Woodbury customers will also be able to take advantage of Sterling's specialized banking and financial services as well as strong technology driven products including Sterling's proprietary EZ Cert[TM] system, which allows attorneys to print signed certified checks from their own desktops, and Sterling's Remote Deposit Service, which enables clients to make deposits by scanning checks and transmitting them via the Internet, allowing them to deposit funds without leaving their offices.
In addition, cash may be used for in-person requests, while certified checks are acceptable for written ones.
In emergency situations, donors should use certified checks.
Over 20 bidders attended the auction with certified checks in the amount of $160,000 as a pre-requisite to bid.
Over 20 bidders attended the auction, with certified checks in the amount of $160,000 as a pre-requisite to bid.
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.
When going to an auction, Martin advised the potential bidder should come with certified checks to cover the downpayment on the initial bid and have on hand incremental checks to cover downpayments up to the highest amount the bidder is willing to pay.
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.

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