What typr of Check do banks often use to pay their own obligations, and often sell to customers who require?

Question

an official insrument of the bank?
a. teller's check
b. cerified check
c. cashiers check
d. substitute check

Answer 1

Cashier's check.

Answer 2

OK well a Teller's Check, Certified Check, and Cashier's Check are, essentially, the same thing. These are often available to customers (though sometimes at a cost).

A substitute check is ... well complicated ... it is a legal paper copy of a check that is used exactly like check. It comes from bank backoffices scanning the original check and disposing it (digital images are easier to work with than the physical check). For more info on this see http://en.wikipedia.org/wiki/Check_21 .

Now as far as what checks banks use to pay their own debts, that falls into the Accounts Payable department of the financial institution, which usually just cuts a standard business check, usually off of a different bank for security sake.

Hope this answers your question.

Answer 3

don't understand the qustion. Banks paying light bills would probably have a business check.

The types of checks they sell is not related to how they pay. A certified check can not be cancelled a cashiers check can. Banks settle accounts with the Federal Reserve differently than with business entities like local utilities office supplies, etc.

Good Luck

Answer 4

cashier's check

Answer 5

c