certified check definition

certified check

Check guaranteed by its issuing bank that (1) it carries genuine signature, and (2) it will be paid when presented for payment. The issuing bank takes out the check's amount from the check writer's (drawer's) account and holds it in reserve to ensure the check's payment. A certified check is a cash equivalent, and normally its payment cannot be prevented by a stop payment order. See also cashier's check.

certified check is in the Banking, Commerce & Finance subject.

certified check appears in the definitions of the following terms: stop payment order, cashier's check and bank draft

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