What is a Cashiers Check

Would you like to make sure that your buyer’s check is good? Ask this buyer to issue a cashier’s check instead of a personal check. This is as good as cleared since the money will be taken care of by the bank.

If you aren’t yet familiar with the cashiers check, here’s what you need to know. A cashier’s check has many names:

  • Bank draft
  • Bank check (apropos)
  • Treasurer’s check
  • Official check
  • Teller’s check

A cashier’s check is hardly similar to the check you write out from your personal savings or checking account and is more famously and quite fittingly preferred by businessmen and merchants for its successful rates of guaranteed payment once issued by a customer or client. A cashier’s check also speaks volumes about the capacity to pay of an individual because the bank is the assuming payor.

What contributes to the advantage of a cashier’s check is its unique attribute. Since the bank pays for the amount stated on it, your personal account is hardly affected thus earning the rate of interest it’s supposed to earn without being subjected to fluctuations in your account. One of the more realistic scenarios that you have to deal with in your personal savings account is losing track of your balance so when you happen to issue personal checks more than usual at a given time, you might not be aware that your funds have depleted. You can avoid this by looking at purchasing a cashier’s check? Purchase a cashier’s check? Yes. For you to be eligible to get this, you just have to follow these simple steps:

  1. Go to your servicing bank. Hopefully the bank you have is one that can be trusted and has a long and founded reputation for being a banking institution.
  2. Take an amount that is comfortable for you (and make sure you don’t fall below the minimum balance otherwise the purpose is defeated), or you can bring your available cash without withdrawing from your account.
  3. Inform the cashier you intend to get a cashier’s check for the amount you have.
  4. Fill out the bank forms and wait for approval.
  5. Settle the fees involved.
  6. Verify the amount with the cashier and bank manager.
  7. Wait some more until you get your cashier’s check.   

You can begin issuing a cashier’s check as soon as you get it from the bank. In cases where you want to write off a personal check to cover the funds for a cashier’s check, as long as the money will be drawn from your servicing bank, you will be allowed to do so since the bank is fully aware of and has immediate access to your personal information.

Although cases of fraud seldom pose a problem, you still have to protect yourself from very enterprising people who want to scam you off a quick one. If you receive an email from individuals or corporations asking you to deposit a check on their behalf for fund transfers, ask yourself this, “Why on the face of this precious earth would you go and do it?” Correct! So don’t reply and just quickly click on “Delete” when you get this type of email. Another thing is when you are the recipient of a cashier’s check, make sure you know the bank, the bank has a branch where you live, and you can easily verify the legitimacy of the check.


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