Where can you buy cheap personal checks?
It is a means of payment drawn by a bank on itself or on another financial institution.The cashier’s check is a payment document issued by a banking institution (the drawee) at the request of a customer (the holder of an account also called the drawer or the issuer) for the benefit of a named beneficiary. By the client (the beneficiary or the holder who collects the funds).
The settlement is immediate debit of the account. It is often used for large sales.
Definition of cashier’s check
The advantage of the cashier’s check is to ensure the creditor the payment of the amount due, because on issue, the amount is debited to be credited to an internal account at the banking institution.
It reassures the supplier about the outcome of the transaction.
Delivery is quick and easy (within 48 hours) on request at a bank branch.
The payment of the amount to the recipient is guaranteed for one year and 8 days from the date of issue. In general, people use this official payment method because it is requested by the payer as a form of payment. Payers ask for these types of official documents to ensure they are receiving verifiable funds, as funds from personal checks are not always available. Your bank may or may not charge a small fee for its issuance. You should always check with your bank about the fees they charge before you receive it or order checks online.
Be careful, before accepting a payment by checkbook, make sure that it is not a forgery or quite simply stolen.
You can verify its authenticity, you must go to the counter of the bank that issued the check or by calling the financial institution directly after having verified the telephone number beforehand.
To cash the money, you must endorse the check with a banking institution. The endorsement transaction consists of signing the reverse in order to receive the cash.
What is the difference between a personal and a bank check?
A personal check allows you to send someone money from your personal bank account. When it comes from a company, it is drawn from the funds of the financial organization rather than yours. A certified check is another type of special payment that is drawn on your funds with a guarantee from the financial institution that the money is there. Many large purchases, like cars and goods, require certified or bank check books.
Understanding cashier’s or cashier’s checks
A cashier’s check is a transfer transaction document issued on the equity of a banking organization. It is basically guaranteed not to be refused, unlike a personal check. In addition, it is usually settled faster, which means that funds can be available more quickly after deposit at the agency.
These two factors make checkbooks issued by a credit institution advantageous for certain transactions. For example, its use is more convenient for buying expensive items like cars or real estate, where sellers don’t want to worry about money taking a long time to be available or not being available. All.
To obtain this means of payment, you generally have to stop physically at a bank branch, order it online or order it by phone. The funds are transferred from your account to the financial institution. It’s different from personal checks, which you can write or print basically whenever you want. Financial organizations often charge for the issuance and delivery of bank check books. They are generally not used or practical for the needs of everyday life.
In general, issuing personal checks is much cheaper than issuing bank checks. In fact, the former can often be issued free of charge. The case of a bank check is different, because in most cases it costs an average of 0.4% interest on the amount, with a minimum cost of more than 10 euros.