Cashier’s Check
Posted in Banking
define: Cashier’s Check
A check for situations that require more security than a personal check. A cashier’s check is issued by a bank or financial institution (even a grocery store) to the purchaser, who pays cash to that entity and sometimes a fee for the service. The check is then drawn upon the funds of the issuer, not the account of the person who purchased the cashier’s check. In recent years numerous scams have been run using fraudulent cashier’s checks.
This definition is filed under Banking.
Comment on this entry
