Treasurer's check


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Treasurer's check

A check issued by a bank to make a payment. Treasurer's checks outstanding are counted as part of a bank's reservable deposits and as part of the money supply.

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.
References in periodicals archive ?
The invoices remained unpaid until July 24, 1996, when PINEZ withdrew money from his account at Eastern Bank, and obtained Treasurer's Checks which were submitted to Centennial in payment of the invoices.
and Buckley issued Bank treasurer's checks in their names, which he gave to ARILLOTTA.
While ARILLOTTA was identifying his employees and suppliers to Buckley, and receiving the Bank treasurer's checks made out to them from Buckley, he was simultaneously double-crossing Buckley; 150 of the treasurer's checks payable to employees and suppliers that ARILLOTTA received from Buckley were never given to the payees.