Cashier and Certified Checks
Cashier’s Check
Check whose payment to the depositor is guaranteed by the bank through an endorsement or real guarantee. It implies a payment obligation for the bank with the charge being immediately made to the drawer’s account.
Certified Check
It is a check whose provision is certified, as guarantee, in the face of the instrument. The certification required by the drawer to the bank (drawee), eliminates the fear of the bearer who would hesitate to accept the check. The drawee cannot deny the certification to the drawer, unless there is proven insufficient provision in the account of the issuer of the check.
