What Is a Certified Cashiers Check?
There is no such thing as a certified cashier’s check. A certified check and a cashier’s check are two separate means used to guarantee money during the course of a payment. Both forms are accompanied by a promise from a bank that the amount for which the check has been written is available and will be paid promptly upon request. Banks typically charge a small fee to process and issue either request. Instead of a certified cashier’s check, an individual could request a certified check from his or her bank. This is signed by both the account holder and the bank in which the account holder has funds. The bank’s signature is a guarantee that verifies the identity of the account holder, and that the money for the amount of the check is in the customer’s account. The check, when cashed, will draw funds directly out of the customer’s account. If a certified check encounters problems and cannot be cashed, both the customer and the bank are held responsible, and the offended party can seek leg
Related Questions
- Why is a Buyer required to provide either a certified check, a cashiers or treasurers check or wired funds at Real Estate Closings where the amount is over $2,000?
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