Cashiers Checks – Overview How to Use and Get Cashiers Checks
Cashier’s checks are checks issued by banks. Cashier’s checks are most often used when a payee is not certain that a check will clear, or when rapid settlement is necessary. Here, we’ll cover some of the details on cashier’s checks. Safety and Cashier’s Checks Traditionally cashier’s checks have been among the safest checks to accept. This is because the promise to pay is made by the bank issuing the check – not the person who uses the check. They are sometimes called bank drafts. Let’s contrast a cashier’s check with a personal check. When you write a personal check, you’re supposed to have available funds in your account to cover the check. However, you may know that the payee won’t get the check to the bank for a few days, and that processing will take another few days. Therefore, your account won’t be debited for several business days after you write the check. If you don’t have the funds available today,
