What is the difference between checking check and bank check?
The check of the cash register is already paid, similar to a cash order. It is also often called a bank check, so cashier checks and bank checks are really just two names for the same thing. Treasureer checks are often preferred over regular personal checks for increased security. When someone issues a personal check, it is supported by their account, while the cashier's check is supported by the entire financial institution because the bank bought it from an emitter. As a result, the payment is guaranteed.
The cash register checks exist because many individuals and businesses are vigilant when taking regular checks, because the writer of the check could erase his account before cleaning the check. If the check is issued, there is no warranty that the means exist, let alone immediately available. So it is a gambling for the party receiving a check, and therefore many people only make personal checks from people they trust.
On the other hand A person who wants to release such a check must go to the bankAnd pay for it and then give it to the recipient. If the banking bank is not threatened the next day, the cash register check is guaranteed. In this way it is as safe as cash, but it is easier to send it.
However, there is a price for this security. While personal checks have only a one -time order fee and do not stipulate anything, cashier checks can be expensive to buy. The price is often worth most people because of comfort, but because of additional costs, some people could rather write regular checks from their account if possible.
Although this method is considered almost as safe as cash, Cashier's check fraud is fraud. Like for creating counterfeit accounts or writing bad controls, some people earn money using the benefit of confidence put into cashier checks. Supaches of CH give the other check of the cash register more than the required amountduring the purchase, and simply ask for a refund from the seller.
In such cases, it will be shown that the cash register check is not valid for the reported amount or not at all. Unfortunately, it may take a few days to realize it, and if it is too late, the recipient must repay the check with a bank that he doesn't really have. Such examples of fraud are usually held online.
Because of these differences, many retailers require cash register checks as a preferred payment method when dealing with people they don't know. It works for many general sales. It may be easier to accept a check from a personal account from someone who knows the seller, but such trust is not recommended online.