what are the differences and similarities between a cashiers check and
a personal/business check?

Dear martins654-ga;

Thank you for allowing me an opportunity to answer your interesting
question. There are very few similarities between cashier?s checks and
personal or business checks. They are two very different bank
instruments. The differences though are many:


A cashier?s check is purchased. In other words, an authorized
?retailer? or cashier?s checks will sell you a bank draft (or a other
financial draft) that represents the amount of cash money you paid for
it.

A personal or business check ideally represents the amount of funds it
is written for but it is more difficult to readily verify.

. . . . . . . . . . . . . .

A cashier?s check usually bears the name and carried the reputation of
a nationally (or internationally) recognized institution.

A personal or business check might be an instrument of a smaller,
lesser-known institution that may not be as reputable.

. . . . . . . . . . . . . .

A cashier?s check is easier to trace because if it?s sequential number
and third party security control.

A personal check or a business check might be more difficult to trace
because the account might be a new one or the business might have just
been established.

. . . . . . . . . . . . . .

A cashier?s check is not subject to immediate cancellation or ?stop
payment?, as it is sometimes called.

A personal check or a business check can be easily cancelled and a
?stop payment? order could theoretically be placed on the check after
the services are rendered.

. . . . . . . . . . . . . .

A cashier?s check is much more difficult to forge.

Having been in law enforcement myself for more than 20 years
professionally I can tell you from first hand experience that even a
child can forge a personal or business check.

. . . . . . . . . . . . . .

A cashier?s check is remarkably difficult to counterfeit.

Again, because of my law enforcement experience in dealing with this
issue on almost a daily basis, I can attest to the fact that many
people, with little experience and a relatively cheap computer can
duplicate personal and business checks in a matter of minutes.

. . . . . . . . . . . . . .

A ?good? cashier?s check is always worth its face value.

Even a ?good? personal or business check can be ?good? and worth its
face value at the time it is received, but may ?bounce? after the fact
due to insufficient funds in the account upon which it is written.

. . . . . . . . . . . . . .

A cashier?s check is extremely difficult to change (virtually
impossible and still be convincing).

A personal or business check can be easily changed, and there?s even a
process by which professionals can ?wash? a check using chemicals,
that doesn?t have much effect on a cashier?s check.

. . . . . . . . . . . . . .

A cashier?s check has a duplicate copy that is retained by the issuing institution.

A personal or business check is only copied AFTER it is cashed or
deposited and there is little way of knowing what the original looked
like prior to the time the holder drafted it or took possession of it.

. . . . . . . . . . . . . .

Really, the only similarity between the two is that both are ideally
worth their face value, provided that both are authorized instruments.

I hope you find that my research exceeds your expectations. If you
have any questions about my research please post a clarification
request prior to rating the answer. Otherwise I welcome your rating
and your final comments and I look forward to working with you again
in the near future. Thank you for bringing your question to us.

Best regards;
Tutuzdad-ga ? Google Answers Researcher



INFORMATION SOURCES


Personal experience in both personal banking and law enforcement.

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Request for Answer Clarification by martins654-ga on 19 Feb 2004 12:03 PST

thanks for the enlightment.from what i gathered from you one can
conclude that a cashiers check is safer to employ during business
transactions.i will like to employ it for future transactions.where
can i purchase one?thank you.

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Clarification of Answer by tutuzdad-ga on 20 Feb 2004 06:42 PST

Absolutely, in my opinion cashier's checks are significantly safer
that personal or business checks. Buying one depends on where you live
but generally speaking you can purchase a money order at virtually all
banks, most post offices, some grocery stores and service stations,
and few selected local businesses in your area (like Western Union,
Mail Boxes-R-Us, etc).

Your bank or your post office can sell a cashier's check to you or
perhaps provide you with a list of alternate places where you can buy
one.

Regards;
tutuzdad-ga