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It's essentially cash. If you hand someone $50 you don't get a notification if it's not deposited.
by hugh-avherald 3y ago
It's essentially cash. If you hand someone $50 you don't get a notification if it's not deposited.
- newZWhoDis 3y agoIt’s not though, it is a bank essentially holding my funds in escrow for payment to a specified party. If that payment is not executed I want to know.
- lightbritefight 3y agoCashiers checks are not traditional checks that only withdraw funds on deposit. A casihiers check debits the money from you account on issue. As soon as the bank gives you the check, the money is out of your account. A cashiers check cannot bounce for this reason. Its why it or a wore transfer are the required payment type for large purchases of this type.