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 ex-psychiatric nurse was only caught because the hotel manager was suspicious of the British bank cheque Beadle tried to pay with.
The raid on a Securicor van outside the Midland Bank cheque centre in Salford happened on July 3, 1995.
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 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.
He grabbed her blue plastic handbag containing a Midland Bank cheque book and card and pounds 3 before running off.
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.
Value of the document shall be paid in cash or under a bank cheque to
Richard Tyson-Davies is head of the Association of Payment Clearers, which handles bank cheque, debit, credit card and cash transactions.
The company shall deposit the cash dividends in the bank account of the shareholder, or shall post by registered mail a bank cheque of the amount of the dividend to the beneficiary's address as recorded in the market register.
FROM 2006 to 2008, former Paphos municipal councillor Yiorgos Michaelides (DISY) was the beneficiary of three bank cheques worth a total of 27,000 Cyprus pounds (e1/445,900) from one of the companies awarded a contract for the town's sewerage system, a criminal court heard on Thursday as the Paphos Sewerage Board (SAPA) trial got underway.
The owner of said firm Sheikh Zaka-u-Din and Waming Zaka have allegedly settled all the matters with Shahid Chatta, Director Income Tax and settled his case through him (Shahid Jatio) while submitting fake bank cheques, the sources added and maintained that Director Income Tax avoid to take any legal action against fraudsters because fraud case could be registered on submitting fake bank cheques.