money






 

Question by  philosophy (243)

What is the difference between a Bank Check and a Cashier's Check?

I went into my credit union and asked for a "bank check" and the teller corrected me by saying that she could write a "cashier's check" for me. Are they really different?

 
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Answer by  bl834 (1317)

I think a cashier's check is backed by you AND the bank (ie: you're liable for insufficient funds), the other is backed by only the bank (ie: the bank pays out even if the account the check is drawn on is empty).

 
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Answer by  quinn1988j (42)

There is only a small difference between a bank check and cashier's check. A cashier's check offers more security than a bank check because a bank check is only backed from your account, while a cashiers check is backed by the entire institution from where you received your cashier's check.

 
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Answer by  Tallia (18)

A bank check generally refers to a "counter check" which is drawn on your account like a normal check but issued at the branch. A cashier's check is issued by and guaranteed by the bank who writes the check. When you purchase a cashier's check, the money is immediately debited from your account.

 
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Answer by  Liz59 (10966)

Well a bank check is signed out by the bank. The cashier's check is just done by the teller. It is an official authority however.

 
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Answer by  Scott93 (119)

Although the terms are sometimes used synonymously, a legal distinction exists between a cashier's check and a bank check: a bank gets the funds for a "bank check" from its accounts at other banks, whereas, the funds for a cashier's check come from the bank's own funds and must be signed by a bank official.

 
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Answer by  GeorgesBataille (59)

A bank check is a note issued on an account held by a bank, such as a checking account, while a cashier's check is purchased for cash. More often than not a bank check will have more customer information, such as an address and other identification information like a driver's license number or telephone number.

 
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Answer by  Redline (38)

There is no real difference, most banks call them Cashier's checks. All that is different is the name used by the institution in question. The teller may have thought you were asking for a Teller's Check, which is a check written by a credit union, but pulled from funds at another bank.

 
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Answer by  Cathie (670)

You might not think they are different, but they are. A bank check you write on your own personal account that you are guaranteeing yourself, not the bank. With a Cashier's Check, you must give the bank the money first and they write the check so they are guaranteeing that there are sufficient funds.

 
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Answer by  selvarajan (71)

bank check is the cheque is issued by bank . It may be in order. The customer need a bank account or identity froof . The cashier check is the customer issued a cheque to the party .It may be bearer cheque.The customer need not bank account or other formalities.In both case can accept from bank

 
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