Certified Cheque

  • (noun): A check containing certification that the person who issued the check has sufficient funds on deposit to cover payment.
    Synonyms: certified check

Some articles on certified cheque, cheque, certified:

Variations On Regular Cheques - Certified Cheque
... When a certified cheque is drawn, the bank operating the account verifies there are currently sufficient funds in the drawer's account to honour the cheque ... Those funds are then set aside in the bank's internal account until the cheque is cashed or returned by the payee ... Thus, a certified cheque cannot "bounce", and its liquidity is similar to cash, absent failure of the bank ...
Certified Check
... A certified check or certified cheque is a form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written ... Thus, a certified check cannot "bounce", and, in this manner, its liquidity is similar to cash, absent failure of the bank ... This regulation is supposed to prevent certified checks from becoming a universal substitute for cash, which is considered the only legal tender ...

Famous quotes containing the words cheque and/or certified:

    Any general statement is like a cheque drawn on a bank. Its value depends on what is there to meet it.
    Ezra Pound (1885–1972)

    Faith means belief in something concerning which doubt is still theoretically possible; and as the test of belief is willingness to act, one may say that faith is the readiness to act in a cause the prosperous issue of which is not certified to us in advance.
    William James (1842–1910)