What is the difference between a cashiers check and an official check or bank check and why must I have a cashiers check on auction day?
Ans. The terms “cashier’s check,” “treasurer’s check,” and “official check” are often used interchangeably. A cashier’s check is a draft where the drawer bank and the drawee bank are the same. In other words, where the check is drawn by a bank on itself. If so, and if it is not captioned “expense check” or “dividend check” or “payroll check” or in any other way that makes it a special-purpose payment, consider it as fitting the definition of a cashier’s check and making the funds available accordingly. A cashier’s check has availability requirements defined under Reg. CC. and that is why a cashier’s check is required as part of the Earnest Money Deposit.
Related Questions
- What is the difference between a cashiers check and an official check or bank check and why must I have a cashiers check on auction day?
- What is the difference between a cashiers check and an official check or bank check and why must I have a cashier’s check on auction day?
- What is a Cashiers Check/Official Bank Check?
