Cashier's Check Legal Meaning and Definition
Here is a simplified definition of the legal term Cashier's Check.
Cashier's Check (noun): A cashier's check is a certificate issued by a bank on its own authority. It is a special form of check where the bank acts as the payer, meaning the bank guarantees the funds. This check is given to a customer who has paid the bank an equal amount. The check is made out to a named third party at the customer's request. Unlike a personal check, a cashier's check is considered means of guaranteed payment as the funds are drawn directly from the bank and it's typically credited to the recipient's account immediately. It is also known as a bank draft or banker's check.