The cashier's check is known by many synonyms. It can be called a bank check, a teller’s check, a treasurer’s check, or an official check to name just a few. It is different than the type of check you would write from a personal bank account, and usually considered more acceptable for certain transactions, because it provides in most cases, a guarantee of payment to the receiver of the check.

What makes the cashier's check unique is that funds are not drawn from your personal account. As most people know, funds can shift in a personal account on a daily basis. Even if you can prove to someone that you have money in your account to cover a check, that might only be true for a moment or two. Checks are cleared in the order they are received, and if you have other outstanding checks, the value of your checking account will shift when these checks do clear.

In order to get a cashier's check, you withdraw funds from your personal account, or you have cash available. You then pay these funds to the bank that creates the bank check; this is often your own bank. Funds from the check are then drawn on the bank, and not on your personal account. Thus this form of check is considered secure, especially when issued by a reputable bank. There is very little possibility of a legitimate cashier's check bouncing, since the bank is the payer of the check.

If a person fraudulently writes a check to cover the cashier's check, the bank might try not to cash the check. In most cases, this is not an issue, since most people use their own banks to get cashier's checks, and the bank has immediate access to information about the person’s bank account. The bank won’t accept a check from a person to create a bank check if they know there are not sufficient funds to cover the check.

Some institutions will require a cashier's check as a secure form of payment. For instance you may need to get one for deposits on or purchases of automobiles, for deposits or first month’s rent for a newly rented apartment or for a down payment on a house. This really depends upon the institution or business. Some people find the process of obtaining these checks tiresome, and in most cases there is a fee attached to getting a check of this type. This fee may be a percentage of the total check or a flat fee, and this again depends upon the issuing bank, and your relationship to the bank, (such as your being a customer of the bank).

The rise in Internet fraud has prompted many to fall victim to phony or fake check scams. A “private” individual emails you regarding a check they wish you to deposit, and in exchange you will transfer funds to them from your own account. These checks are often cashier's checks and they can look very real.

It’s a good idea first off, to never deposit a check from someone you didn’t know yesterday, and who is claiming to be from a foreign country or some such, especially when these folks contact you via email. Second, if you do accept cashier's checks, be sure it is issued from a bank you know, and verify independently of the address or contact number on the check, that the bank actually exists and is legitimate. If it is a bank you’re familiar with, verify with the bank to be certain the check isn’t a phony. This is especially helpful when it comes to private transactions between individuals, such as someone paying you with a cashier's check to purchase something from you.