Hey,
There are various ways to transfer funds, be it certified checks, money orders, wire transfers, fintech payment apps etc. Each form has its pros and cons. If you wish to avail extra benefits and protection while writing a fresh check, you should be aware of what is a cashier's check.
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It is used in cases where you will want the bank to guarantee the payment of the check. This provides assurance that the fund will go through. for example, land purchase or any real estate down payment.
What is a cashier's check and how does it work?In standard practice, checks are drawn against your account. A cashier’s check is drawn against the bank’s account or credit union’s funds. This way the bank is responsible for paying the check to the payee. You just need to give the bank enough funds from your account that the cheque amount is covered. These checks have to be signed by the teller.
In hopes that the Cashier's check definition given above has cleared your confusion. I will tell you the advantages of the check.
It provides a measure of security to all parties involved, especially in business deals.
The check won’t be counterfeited. Since it needs to be signed by a bank employee.
You won't have to share information about your personal checking account with the payee.
This is all from my end on what is a cashier's check.
Read more : What is the charge for cheque bounce? How to withdraw cash from bearer cheque? What is bearer cheque? What is order cheque?Your Feedback Matters! How was this Answer?
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What is a cashier's check ?
Yashika
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2 Year
2022-09-07T19:26:40+00:00 2022-09-08T14:39:45+00:00Comment
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