If you have the exact amount and the recipient’s name, then you can visit the nearest branch and request the check from a teller.
Since many Americans now make their payments online, the overall use of checks is declining every year. For people, online payments seem easier as there are different types of checks that they know nothing about. You probably don’t come across them that often, but basic information about the different types of checks can help you protect yourself and get an idea how it can be used.
Different types of checks
People see a huge number of check names, such as a cashier’s check, official check, certified check, electronic check, and so on, and they absolutely don’t understand the difference. Study the information on the main types of check in order to understand how to use them.
What is a cashier’s check and how does it work?
A cashier’s check is a secure payment that is most often used to make large purchases. It may also be called a bank check or official check depending on the financial institution. A cashier’s check works the following way: a teller should withdraw money from your personal account and cut a check from the bank to pay the receiver on your behalf. Using this check is less risky than, for example, a personal one. As a rule, a cashier’s check has a fee which may vary depending on your bank, the amount of the check, etc.
What is a certified check definition?
A certified check is a type of personal check guaranteed by the bank. When you write such a check, the bank checks to see if you have enough money in your account to cover it. Also, the bank can block your funds until the check is cashed. This check is usually stamped “certified”. A certified check also has a fee, and its amount will also depend on which bank you use and the size of your check.
What about an electronic check?
Most likely you know that an electronic check is just a digital copy of a paper personal check issued through your bank. Electronic checks help people set up automatic payments so they don’t forget to write a check for recurring bills such as rent.
How is a check different from a money order?
A money order is a prepaid paper certificate that actually works just like a regular check. Thus, the recipient can cash out or deposit them. Money orders are popular because you can buy them from various places convenient for you, such as banks, Credit Unions, as well as post offices and even grocery stores. So if you are not using a bank account it can be very convenient. However, please note that issuers restrict money transfers, most often at $ 1000. Fees can also vary depending on the amount.
What is a bearer check?
A bearer check is a rarely used form of check as no proof of identity is required to cash it. Also, this check can be either cash or personal, but instead of the recipient’s name, it says “cash”. Thus, any owner of a check has the right to cash it out without having to credit it to the account. Despite the fact that this type of check is quite convenient for most people, it is not popular due to the high risk of theft.
How does blank check work?
A blank check is another rare type of personal check since the issuer leaves the amount field blank, so the recipient can enter any amount there and cash it out. However, this type of check is also quite risky, so it has not received widespread distribution.
How to get a check from a bank?
Since most banks offer cashier’s checks to their customers, it shouldn’t be difficult for you to get one.
First, make sure you have the exact amount, recipient’s name and personal identification ready. Next, visit the closest branch of the bank and request the check from a teller. After you pay the check amount and the application fee, you can receive it.
