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A cashier's check (or cashier's cheque, cashier's order, official check; in Canada, the term bank draft is used, [1] not to be confused with Banker's draft as used in the United States) is a check guaranteed by a bank, drawn on the bank's own funds and signed by a bank employee. [2]
A cashier's check is issued by the bank, signed by the cashier and guarantees payment. It can be used to make large purchases. ... that need to clear quickly. Unlike personal checks, cashier’s ...
A cashier’s check, also known as an official bank check, is a payment instrument issued by a bank or credit union to a third party, usually on behalf of a bank customer who pays the bank the ...
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
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Since the bank has already guaranteed the funds, cashier’s checks usually clear within a business day. Personal checks, on the other hand, could take several days to clear as the bank needs to ...
Check-cashing locations: The fees for cashing a cashier’s check at these locations are generally higher than banks and credit unions. The fee could be a percentage of the check amount, anywhere ...