Mar 23 2011

What is a certified check?

Category: Business & Economy,Finance


Certified CheckA certified check is a type check that is typically offered by a financial institution or bank. By issuing a certified check the bank is essentially guaranteeing that the underlying funds will be available until the check is cashed. It is considered a liquid payment method, similar to cash, but more secure since it can only be used or cashed by the payee. Certified checks are often requested for larger sums (down payments on a homes, cars, etc.) or if the credit of an individual comes into question.

Tags: , ,



Challenge this Answer and/or Discuss