Cashier’s Check

What is a Cashier’s Check?

In business it is often the case that a supplier will demand payment before supplying goods. One method of dealing with this is for the business to ask it’s bank for a cashier’s check.

The bank will charge the customers account with the amount and then provide the cashier’s check drawn on the bank’s own funds and signed by a cashier.

As the bank has assumed responsibility for the amount, the cashier’s check is in effect guaranteed payment.

A cashier’s check is sometimes referred to using any of the following names:

  • Cashier’s cheque
  • Banker’s cheque
  • Bank cheque
  • Banker’s draft
  • Treasurer’s cheque
  • Official cheque
  • Demand draft
  • Teller’s cheque

For further information on a cashiers check see

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Cashier’s Check March 23rd, 2016Team

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