cashier's check

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Related to Cashiers check: money order

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 ?
Lukes operating account ending x1224 and then used $2,500 of those funds to purchase the above described cashiers check made payable to the Esplanade Mall for the benefit of his pizza restaurant.
The money farm was led by a 73-year-old gang member, surname Lai, who earned the group to enormous profits by using intimidation and violence to force victims to sign cashiers checks as well as charging those who borrowed money from the group a steep monthly interest rate, according to CNA.
Survey information on the proportion of banks and savings associations that offered various retail services over time is available for the following services: auto loans, non-interest-bearing checking accounts, negotiable order of withdrawal (NOW) accounts (which are interest-bearing checking accounts), savings accounts, money orders and cashiers checks, the return of canceled checks, automated teller machines (ATMs), and safe deposit boxes.
Cashiers checks that have been missing from the Nashville (Howard County) branch of Diamond State Bank of Murfreesboro for six months have shown up in Tennessee and Florida in recent weeks, bank president John Ross said.
These services include noninterest checking accounts, negotiable orders of withdrawal (NOW) accounts, which are basically checking accounts that pay interest, savings accounts, money orders or cashiers checks (which are aggregated because they are substitutes for each other), and automated teller machine (ATM) services.
After the woman said she had nothing to declare regarding currency, firearms and ammunition, officers looked in her purse and discovered more than $70,000 in cash and $50,000 in unendorsed cashiers checks.