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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]
The BAI format was developed and previously maintained by the Bank Administration Institute (BAI). [1] One common application of the BAI format is for use by banks to transmit returned item data to customers (for example, checks which have been marked insufficient funds (NSF)).
A bearer check is payable to anyone who is in possession of the document: this would be the case if the cheque does not name a payee, or is payable to "bearer" or to "cash" or "to the order of cash", or if the cheque is payable to someone who is not a person or legal entity, for example if the payee line is marked "Happy Birthday".
Check number: Found in both the top and bottom right corners, this number is used for tracking and security purposes. Date line: ... 2024, could work, for example. 2. Write the name of the payee
The categories include type of item, and if it is a cheque or cash and which bank it is from, such as a local bank or not. The bank teller keeps the deposit slip along with the deposit (cash and cheques), and provides the depositor with a receipt. They can be filled in prior to attending the bank, making it more convenient when paying in.
A banker's draft (also called a bank cheque, bank draft in Canada or, in the US, a teller's check) is a cheque (or check) provided to a customer of a bank or acquired from a bank for remittance purposes, that is drawn by the bank, and drawn on another bank or payable through or at a bank. [1]