Although both are a security, the cashiers check subscribe a money order guaranteed by a bank that allows the beneficiary to transfer large sums of money. Due to its own characteristics as a commercial document, this check type can be negotiable and non-negotiable, while providing security to collect ostentatious amounts.
If you plan to transport a lot of cash from a financial institution, keep in mind the security and protection of your personal integrity. Whether it’s to pay for a service, buy an asset, such as a home or vehicle, or deposit money in a bank, you can consider using a cashier’s check. Its cost will depend on the entity in which you request it.
What is a cashier’s check and how is it used?
- It is a security that establishes a guaranteed payment order issued by a financial entity and that establishes an immediate payment to the drawee or beneficiary specified in the commercial document.
- The cashiers check It allows you to transport large sums of money and can be collected at any of the offices of the issuing bank or deposited in accounts of the bank, as well as another. There is the possibility that a third party will charge it, according to the specifications of this type of check.
Differences between cashier’s check and normal
| Cashiers check | Normal check |
|---|---|
| Type of check that establishes a money order guaranteed by a bank. | Security that loads an unconditional payment order. |
| Drawer and drawee can be the same person or entity. | Librador is the bank; drawee, who establishes a payment order from his funds; and beneficiary or holder, who collects. |
| It can be negotiable and non-negotiable. | There are more than eight types of check. |
| Transferable by endorsement. It cannot be drawn in favor of the bank itself. | If transferred, it can be bearer or nominative. |
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What are the types of checks?
- Check to bearer
- Cross check
- Certified check
- Check to order
- Check not to order
- Cashier’s check
- Traveler’s check
- Cancellation check
- Cashiers check.
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Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
