2007-04-29 05:38:53 · 6 answers · asked by Protector 2 in Business & Finance ➔ Personal Finance
A cashier's check is where funds are set aside for the sole purpose of paying the cashier's check when the recipient cashes the check.The cashier's check is a guaranteed payment where a check is not, if you do not have the funds in your account when you write the check it will bounce and the bank will charge you fees for writing a bad check..
2007-04-29 05:55:40 · answer #1 · answered by sirmrmagic 6 · 0⤊ 1⤋
A (personal) check (or cheque) is one drawn by an account holder on his account with a bank, whereas a cashier's order or cashier's cheque or bank pay order is a cheque drawn by a bank on its own account.
While a personal cheque may bounce due to inadequacy of funds, it is most unlikely that a cashier's order would be returned unpaid because the bank issuing the cashier's order is bound to honor the order in the normal course of business except for technical reasons. Thus a cashier's order is as good as certain payment in the hands of the beneficiary whereas a personal cheque may sometimes not be honored by the bank on which it is drawn due to insufficient funds or stop payment instructions issued by the drawer.
2007-04-29 06:36:41 · answer #2 · answered by greenhorn 7 · 0⤊ 0⤋
Cheque, in commercial law, a bill of exchange drawn on a banker and signed by the drawer, requiring the banker to pay on demand a certain sum in money to or to the order of a specified person or to bearer.
A cashier’s cheque is a check issued by the officer of a bank on the banks own A check issued by the officer of a bank on the banks own account (not that of a private person)- cashier's check [US], treasurer's check [US], treasurer's cheque [Britain]
A person who issues out a cheque from his own personal current bank account is said to be issuing a personal cheque or simply a cheque.
There is one HUGE difference between a cashier's cheque and personal check, such as you might send out to pay your electric bill. If your cheque to pay your electric bill goes astray, you can stop payment. There is NO way to stop payment on a cashier's cheque.
2007-04-29 05:59:03 · answer #3 · answered by KD 2 · 0⤊ 0⤋
A cashier order (or check) is guaranteed and written by the bank. A regular cheque (check) can bounce since it is a personal account.
2007-04-29 05:45:44 · answer #4 · answered by Barkley Hound 7 · 0⤊ 0⤋
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I don't think one is more secure than the other. Virtually any document can be faked so really, nothing is all that secure anymore! As for a person or business receiving funds, it's going to depend on what they are getting the funds for and where they are coming from which would influence their preference. The differences, as BK22 said, are that a money order has a dollar limit and the payee info is left blank for you to complete yourself, while a cashier's check is completed by the bank when you purchase it.
2016-04-04 06:51:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
What Is Cashier
2016-10-16 06:23:38 · answer #6 · answered by ? 4 · 0⤊ 0⤋
a check is through a bank account that you might have a cashier's check is one given to you by the place you bought it. make sence?
2007-04-29 05:43:08 · answer #7 · answered by ? 2 · 0⤊ 0⤋
sophisticated stuff. look onto yahoo and bing. just that might help!
2015-04-30 17:59:47 · answer #8 · answered by ? 2 · 0⤊ 0⤋