cashier's 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.

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.

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.

cashier's check

An official check issued by a bank with itself as the drawer. Contrast with a certified check, which is one drawn on the bank customer's account, with the customer as drawer, but certified as good by the bank. Closing companies usually require a cashier's check for the purchaser's portion of all closing costs and purchase money. A cashier's check can be the subject of a stop-payment order. Because of widespread forgery of cashier's checks, many closing companies will not complete closing until funds are actually collected and in the closing company's escrow account.

References in periodicals archive ?
The caller said once this was done, etisalat would send a text message revealing the bank cheque details and a pin number, which would need to be presented to another etisalat employee at a bank branch, along with an identity proof, in order to claim the prize.
The ex-psychiatric nurse was only caught because the hotel manager was suspicious of the British bank cheque Beadle tried to pay with.
The robbery from a Securicor van outside the Midland Bank Cheque Centre in Salford, Greater Manchester, in July 1995 was the biggest in Europe at that time.
IG Islamabad Aftab Cheema appeared in the court in the matter of levelling wrong sections by Muhammad Raza, ASI Aabpara police against a citizen Noman Qureshi in a bank cheque case.
He changed his return flight to the UK at some inconvenience and expense, and was then told by the developer that a bank cheque was not acceptable, and only cash would do to finish the purchase in the land office.
The concerned institution, taxpayers should present State Bank cheque in order to ensure the crediting of amount to the government account on the same day, it added.
I had been told that almost pounds 2million had been thrown at this former Clydesdale Bank cheque depository by way of conversion into a cool pre-club hang-out.
The caller said once this was done, etisalat would send a text message revealing the bank cheque details and a pin number, which would need to be presented to another etisalat employee at the Dubai Islamic Bank's Deira branch, along with an identity proof, in order to claim the prize.
He spoke with a heavy Dublin accent and had an Allied Irish Bank cheque book in the glove compartment of the jeep.
A CONMAN drove off with Mary Evans' car after handing her a forged bank cheque.
Richard Tyson-Davies is head of the Association of Payment Clearers, which handles bank cheque, debit, credit card and cash transactions.
Cash Collection, Cash in Transit Services and Cash Processing Services including delivery of cheques to the Council~s bank cheque processing centre .