treasurer's cheque
Definition
Noun: A treasurer's cheque is a type of check (or cheque) that is issued by a bank's officer and drawn directly on the bank's own funds, not on the personal account of an individual. It is considered a very secure form of payment, as the bank itself guarantees the funds.
Usage
A treasurer's cheque is used when a payment requires a high degree of certainty and security, such as in large transactions like purchasing a car or a house. Because the bank guarantees it, the recipient can be confident the cheque will not bounce due to insufficient funds.
Examples
Advanced Usage
- Legal and Official Transactions: Treasurer's cheques are often mandated for official or legal settlements where a personal check would be considered too risky.
- As Good as Cash: In many contexts, a treasurer's cheque is treated with the same reliability as cash because the funds are immediately secured by the issuing bank.
Variants and Related Words
- Cashier's cheque: This is the most common and direct synonym for a treasurer's cheque. The terms are often used interchangeably.
- Example: She paid with a cashier's cheque from her local bank.
Synonyms
- Bank cheque
- Official cheque
- Cashier's check (alternative spelling)
Notes
- The term treasurer's cheque is less common in everyday American English than cashier's cheque or cashier's check, but it refers to the identical financial instrument. The spelling "cheque" is standard in British English, while "check" is used in American English.
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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