When the persone receiving the check, the payee, wants to ensure that there are sufficient funds and that the check wont bounce. A certified check is as good as cash and a more secure method of payment for the payee.
It is illegal to bounce ANY check.
the cheque is being returned(bounced back) by the bank for non-sufficient funds. To bounce back a check means to To bounce back a check means to
Only the bank can certify a check, or someone at the bank. Usually, the bank will not certify a personal check, they will issue what is called a "certified check". A certified check is guaranteed to have available funds by the bank that certifies it. Certified means the funds are held aside. Anyone with a certified check made out to them can go to that bank and collect cash. In days of banking past, you could have a personal or business check certified by the bank, and they would stamp the check "certified" and hold the funds aside on that item. Now, the bank will just issue a certified check after taking the money from your account and the certified check will be drawn on the bank's account. This answer is for the U.S. banking system.
no
When the persone receiving the check, the payee, wants to ensure that there are sufficient funds and that the check wont bounce. A certified check is as good as cash and a more secure method of payment for the payee.
It is illegal to bounce ANY check.
the cheque is being returned(bounced back) by the bank for non-sufficient funds. To bounce back a check means to To bounce back a check means to
Only the bank can certify a check, or someone at the bank. Usually, the bank will not certify a personal check, they will issue what is called a "certified check". A certified check is guaranteed to have available funds by the bank that certifies it. Certified means the funds are held aside. Anyone with a certified check made out to them can go to that bank and collect cash. In days of banking past, you could have a personal or business check certified by the bank, and they would stamp the check "certified" and hold the funds aside on that item. Now, the bank will just issue a certified check after taking the money from your account and the certified check will be drawn on the bank's account. This answer is for the U.S. banking system.
A certified check, also referred to as a cashier's check, is a check that has already been paid for so you don't have to wait for it to clear your account. Generally, certified checks do not have an expiration date on them.
No, one cannot put a stop payment on a certified check. The point of issuing a certified check is to guarantee that the check can be cashed immediately - like cash.
is there a money amout the bank will no cash on a certified check?
It takes about three to five days before a check will bounce in most banks. That gives a person time to deposit the money to cover the check.
no
A bounce check is also known as a rejected check or a dishonored check. It all means one and the same. A check that was submitted for encashing has not been paid and the check is literally useless or worthless for the person who was paid using that check.
A certified check, also referred to as a cashier's check, is a check that has already been paid for so you don't have to wait for it to clear your account. Generally, certified checks do not have an expiration date on them.
check bounce is when you do not have sufficient balance in your account and check not cleared is when the process is delayed on either end due to some problems