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 ?
MoneyGram's PrimeLink Official Check outsourcing program provides banks with management of its clients' official checks, including daily balancing and reconciliation, exception handling, inventory management, and real-time updates on official check transactions.
The agreement leverages MoneyGram's PrimeLink Official Check outsourcing solution, which includes daily balancing and reconciliation, inventory management, real-time updates and an online platform.
In September 2008, Jennings took cash from her teller drawer for her personal use and posted a debit to the Money Gram official checks account rather than debiting her personal account.
MoneyGram also offers bill payment services, issues money orders and processes official checks in select markets.
official checks ports of entry ahead of mass returnees from Hajj ***
Baby P was battered to death by those who should have cared for him despite a barrage of official checks and inspections.
EFSA says better veterinary official checks at external borders are required, with better cooperation with customs officers to prevent smuggling.
Official checks should occur across the production process - from treatment and storage to distribution and import of products that likely contain GMOs, including GMO-based foodstuffs and animal feedstocks.
eventually face an inquiry, while Saxon Mist cannot run until blood testing and other official checks have confirmed his identity.
For more than 30 minutes our team roamed private areas of the Royal residence after the most cursory official checks.
In addition, a change in the law requires official checks to be carried out on a wide range of professions considered to work in 'notifiable occupations'.
Official checks of aviation safety standards at regional airlines in central Siberia have led to around 80 pilots and other flight crew being suspended and more than 20 aircraft being withdrawn from service.