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Certified Check

A cashier's check (also known as a cashier's cheque, bank check, official check, teller's check, bank draft or treasurer's check) is a check guaranteed by a bank. They are usually treated as cash since most banks clear them instantly. However, banks are permitted to take back money from a "cleared" check one or two weeks later if subsequent processing finds it to be fraudulent. Because customers believe the checks have been found valid and have been converted to cash in hand, customers are readily defrauded by schemes which ask them to part with goods or a portion of the money if it is cleared in a timely manner.[1][2]

Example of a voided cashier's check, this one issued by Integrated Payment Systems (as evidenced in the lower left corner of the check), on behalf of Community Bank. is===1 Lawyers and Law Students! Can you improve this definition? Send us your improvements and we'll provide a link back to your website or blog.