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A check drawn on the funds of the financial institution, not against the funds in a depositor's account. However, the depositor paid for the cashier's check with funds from their account. The primary benefit of a cashier's check is that the recipient of the check is assured that the funds are available.
- Browse Related Terms: Cashier's Check, Certified check, Certified Check, Treasurer's/Cashier or Other Official Check, Co-Signer, Dodd-Frank Wall Street Reform and Consumer Protection Act, Electronic Funds Transfer Act (EFTA), Forged Check, Official Check, Signature card
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