Recent Examples of cashier's check from the Web
In turn, prosecutors say, Shain sent approximately 58 cashier's checks to Colello or his girlfriend totaling more than $300,000.
Shain purchased and issued cashier's checks to pay Colello.
Theft by deception, Center Ridge Road: On Feb. 20, a bank reported a customer deposited a cashier's check into his bank account and then withdrew a large sum of money several days later.
Over three years, prosecutors said that Shain sent approximately 58 cashier's checks to Colello or his girlfriend totaling more than $300,000.
The resident refused, and found out from his bank that the cashier's check was fake.
The down payment must be in cash or a cashier's check.
Shain sent 58 cashier's checks to Colello from June 2012 to March 2015, most of them below the $5,000 threshold that requires banks to report the transactions.
The companies then sent cashier's checks to Decatur, who put the money into his personal account, according to a 334-count indictment filed in Geauga County Common Pleas Court.
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Financial Definition of CASHIER'S CHECK
What It Is
A cashier's check is a check that guarantees the availability of the underlying funds because it is drawn upon and issued by the bank itself.
How It Works
To obtain a cashier's check, a person must first deposit funds equal to the check amount with the issuing bank. The bank then generates a check to the payee drawn on the bank's own account. The name of the remitter (the person purchasing the check) is noted on the check. The check is signed by a bank cashier or officer.
Banks typically charge a fee for cashier's checks.
Why It Matters
Only under extremely unusual and rare circumstances will a cashier's check bounce. Because the bank assumes the obligation for payment, thereby ensuring a high degree of safety, some institutions require that payments be made via cashier's check.
CASHIER'S CHECK Defined for English Language Learners
Definition of cashier's check for English Language Learners
: a check that is written by a bank and signed by a cashier
Seen and Heard
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