Cashier's Check

Cashier's Check
A check written by a financial institution on its own funds. It is then signed by a representative of the financial institution and made payable to a third party. A customers who purchases a cashier's check pays for the full face value of the check and usually also pays a small premium for the service. These checks are secured by the funds of the issuer - usually a bank - and include the name of a payee (the entity to which the check is payable), and the name of the remitter (the entity that paid for the check).

An individual could use a cashier's check instead of a personal check to guarantee that his or her funds for payment are available. A cashier's check is secured because the amount of the check must first be deposited by the individual into the issuing institution's own account. The person or entity to whom the check is made out is then guaranteed to receive the money when cashing the check.

Cashier's checks differ from certified checks in that the funds owing on a cashier's check are taken from the issuer's account, while the funds owing on a certified check are taken from the remitter's account.


Investment dictionary. . 2012.

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Look at other dictionaries:

  • cashier's check — ca·shier s check see check Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. cashier s check …   Law dictionary

  • Cashier's check — Cash*ier s check (Banking) A check drawn by a bank upon its own funds, signed by the cashier. [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • cashier's check — cashier s′ check n. bus a check drawn by a bank on its own funds and signed by its cashier • Etymology: 1865–70, amer …   From formal English to slang

  • cashier's check — ☆ cashier s check n. a check drawn by a bank on its own funds and signed by the cashier …   English World dictionary

  • cashier's check — cashier s checks N COUNT A cashier s check is one which a cashier signs and which is drawn on a bank s own funds. [AM] …   English dictionary

  • Cashier's check — A cashier s check (cashier s cheque, bank check, official check, demand draft, teller s check, bank draft or treasurer s check) is a check guaranteed by a bank. They are treated as guaranteed funds and are usually cleared the next day. It is the… …   Wikipedia

  • cashier's check — noun a check issued by the officer of a bank on the banks own account (not that of a private person) cashier s checks are as good as cash • Syn: ↑treasurer s check, ↑cashier s cheque, ↑treasurer s cheque • Hypernyms: ↑check, ↑bank check, ↑ …   Useful english dictionary

  • cashier’s check —  A check issued by a bank with funds provided by the customer. Many businesses require payment in cash or by cashier’s check, especially when doing business the first time …   American business jargon

  • cashier's check — noun Date: 1867 a check drawn by a bank on its own funds and signed by the cashier …   New Collegiate Dictionary

  • cashier's check — a check drawn by a bank on its own funds and signed by its cashier. [1865 70, Amer.] * * * …   Universalium

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