1. Definition

A bank check, or cashier’s check, is a written payment promise issued or guaranteed by a bank, allowing the holder to withdraw a specified amount of money from the issuer's account. Unlike a personal check, a bank check provides a higher level of security as it is backed by the issuer’s bank. Bank checks are common for larger payments and serve as a reliable alternative to cash or bank transfers.

2. Application in Industry

Bank checks are used across various industries and have multiple practical applications:

• Real Estate Purchases and Large Investments: For high-value transactions, such as real estate purchases or expensive investments, bank checks offer a reliable and secure payment method.

• Business Transactions: Many companies use bank checks for large payments as they are quicker and less complex than bank transfers.

• International Transactions: In cross-border payments, especially when direct transfers are challenging, a bank check serves as a secure means of payment.

3. Types of Bank Checks

• Crossed Bank Check: This check can only be deposited into a bank account, enhancing security and ensuring a documented money flow.

• Cashier’s Check: A cashier’s check is issued directly by a bank and guarantees that the funds are available, as the bank is responsible for the payment.

• Certified Check: A certified check is guaranteed by the issuer’s bank, giving the payee assurance of full payment.

• International Bank Check: Designed for international transactions, this check can be issued in different currencies to facilitate cross-border transfers.