- CASHIER’S CHECK
- a check issued by an officer of a bank to another person, authorizing the payee to receive – upon demand – the amount of the check. It is drawn on the bank’s own account (not that of a private person) and is therefore accepted for many transactions that personal checks would not be [accepted].
- CERTIFIED CHECK
- a check containing a certification that the drawer of the check has sufficient funds in the bank to cover payment.
- MEMORANDUM CHECK
- a bank check with the word “memorandum” written across its face (which is not intended for immediate presentation). The label is intended as evidence of an indebtedness by the drawer to the holder.
- Froogled By:
- Elias Makere, FSA, MAAA
- Last Froogled:
CHECK
Feel free to use it throughout your financial/insurance life.
Sincerely,
www.FroogleMe.com
