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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 cashier’s check is then a legal and valid form of payment. Securely store your check until you plan to use it. Once your cashier’s check is in your hands, treat it like cash.
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 ...
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 ...
A substitute check (also called an Image Replacement Document or IRD) [1] is a negotiable instrument that is a digital reproduction of an original paper check.As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check.
Cashier's check (known as a bank draft in Canada) Money order; Manager's check; Wire transfer; Specifically, personal checks are not allowed, as the account may not have sufficient funds, and credit cards are not allowed, as the transaction may later be disputed or reversed. Checks sent by a bank bill payment service can fall into an ambiguous ...
Funds from certified check vs. cashier's check come directly from the account holder's bank account vs. being drawn from the bank's own account.
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".