treasurer's check
Definition
Noun: A treasurer's check is a type of secure bank check. It is a check issued by a bank's own officer, drawn directly on the bank's own funds, not on the account of a private individual. This makes it a guaranteed form of payment, as reliable as cash.
Usage
A treasurer's check is used for transactions requiring a high degree of security and certainty of payment, as the bank itself guarantees the funds.
Examples
- The down payment for the house was made with a treasurer's check.
- For large purchases like a car, the dealer often requires a treasurer's check instead of a personal check.
- The auction house stated that all winning bids must be settled with a treasurer's check.
Advanced Usage
- "as good as cash": This phrase is commonly used to describe the reliability and immediate value of a treasurer's check, emphasizing that it carries no risk of bouncing like a personal check might.
- In most financial transactions, a treasurer's check is considered as good as cash.
Variants and Related Words
- Cashier's check (noun): This is the more common and widely used term for the same financial instrument. The two terms are generally interchangeable.
- He obtained a cashier's check from the bank to pay the contractor.
Synonyms
- Bank check
- Official check
- Bank draft
Related Phrases
- Certified check: While also a secure form of payment, a certified check is a personal check that a bank has "certified" by setting aside the specific funds from the payer's account. A treasurer's/cashier's check is drawn on the bank's own account from the start.
Noun
- a check issued by the officer of a bank on the banks own account (not that of a private person)
- cashier's checks are as good as cash
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