What is the checkout check?

The check of the cash register is a financial certificate or a note that people use instead of cash, regular checks, credit or other types of payment, such as cash orders. It has other names, including banking checks, banking proposal, Teller check, cashier check and official check. Although it works just like normal control, it is different because the issuing financial institutions, not a remitter or a buyer of the document provide money to cover the nominal value. This makes it a safe way to exchange money, although they are examples of fraud on the rise.

Physical description

Although each bank has its own view of official inspections, documents always have the name and placement of a financial institution, including routing information, clearly displayed. Banks often use techniques such as watermark to improve security, and documents are also specially marked as Teller checks.

All official checks include the name and amount, toThe way is to be paid, as well as information about the remitter. Notes must include at least one signature or facsimile signature official from the issuing bank. The date on which the document was issued will also appear, which may affect whether the recipient can earn it.

Purchase of one

In order to obtain check of the cash register, the buyer collects funds from the personal account or has cash available. He then pays this money to an institution that creates a certificate, which is often the buyer's own bank. The Bank will become responsible for paying the amount specified in the bank proposal from now on, so people consider this method of payments safe or certified.

Some banks hesitate to issue a cash check to whether the buyers write a regular check from another financial institution to cover costs. Does not have to make a treasure notation because they cannot easily verify that the buyer has enough money on his account to cover the nominalthe values. However, if a person in the bank has an account that issues a certificate, it is usually not a problem because representatives can easily access the buyer's account to see if enough money is available. Treasurers usually still apply for a personal ID before deducting money on a bank proposal from a personal account.

International cashier checks in large foreign currencies are available in some banks. People use them for tasks such as paying suppliers who are abroad or send money to family and friends. Such checks are as safe as home versions, but they can take a long time to reach the recipient and eventually clean.

In general, regardless of whether a person wants a domestic or international control, a business or an individual usually uses one only if the amount to be exchanged is over $ 1,000 (USD). People tend to want a better guarantee, the more money more money is involved and cashier checks provide it. For smaller amounts instead of nMonetary orders work, but are not guaranteed in the same way.

fees

In most cases, banking proposals have fees attached when purchasing. The fee can either be a percentage of the total control or a flat fee, but is usually relatively small. The policies issued by the bank and the relationship of repetition to the institution affects what the person has to pay.

How Cash

Plasy This type of check does not differ from reimbursement from a personal or business bank account. The recipient must first support the document on the back. He can then put it in his bank account by going to his bank in person or by visiting an ATM. If the recipient wants cash money, he must bring it to the banking treasurer.

Like normal checks, bank designs expire, usually within 90 to 120 days after the release. Usually they are a clear working day, but many financial institutions have filed checks worth more than $ 5,000 due to a fraud increase, which requireUsing the recipient to wait up to two weeks for payment. Hold gives the bank time to verify that the document is valid.

users

Banks usually issue checking the cash register to anyone who can introduce enough cash to cover the processing fee and the nominal value of the document. As a result, they are a good choice for people who no longer have a bank account. Groups and individuals also turn to bank designs when they want the transactions to be completed quickly. Securing this certificate means that the recipient does not have to wait for verification as he could with a personal check. This may matter in areas like a property where the ability to get money quickly can make or interrupt business trade.

demand

Some institutions require checking checks as a secure type of payment. Car dealers could seek one for example for a vehicle deposit or apartment manager if someone rented a place to live. These organizations usually deal with transactionEMI worth at least a few hundred dollars at a time, so they want to minimize the risk that the payment does not pass.

fraud and fraud

Cases of control fraud are growing, mainly to increase the use of the Internet. One example is when the individual sends an e -mail to another of the check that wants the recipient to insert. The person who sends e -mail says that in exchange, all the recipient must do is to transfer funds to the sender from her own account. The document that the recipient receives from the scammer may look very real, but it is worthless.

Another popular fraud is used with online sites. The person sends a fake check to the cash register to pay for the item for sale, and the seller's bank will not initially find out that the document is counterfeit. At a time when the seller knows the tklobouk remark is false, he usually sent the item to Scammer.

people can avoid fraud by rejecting cash checks from individuals, banks or businesses they don't know. If fromThe ease of the issuing bank should still verify that the address and other check information are correct. In general, the reimbursement of one of these notes should not require payment from the recipient, except when it takes it to a check for a paid service or other institution that explicitly states that it charges a fee.