Cashier’s Cheque

Business, Legal & Accounting Glossary

Definition: Cashier’s Cheque



Full Definition of Cashier’s Cheque


A cashier’s cheque is issued and certified by a bank on its own account. A purchaser acquires a cashier’s cheque by paying the bank the value of the cashier’s cheque plus any fees. Often, to obtain a cashier’s cheque, the purchaser must have an account with the bank issuing the cashier’s cheque. Basically, the bank withdraws the funds for a cashier’s cheque from the purchaser’s account and holds the money in an escrow account. The cashier’s cheque will state the name of both purchaser and payee. A cashier’s cheque does not depend on a private account and therefore a cashier’s cheque is received as cash. A cashier’s cheque is particularly useful when, in such transactions as real estate transfers and tax payments, payment must be credited when received.


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Definition Sources


Definitions for Cashier’s Cheque are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 4th February, 2020 | 2 Views.