What is a Tellers Check?

Answer 1

A teller's check, also known as a bank check or official check, is a type of payment instrument issued by a bank on behalf of a customer. It guarantees the payment amount because the bank withdraws the funds from the customer's account and holds them until the check is cashed or deposited. Teller's checks are often used for large transactions or situations where a personal check may not be accepted due to concerns about insufficient funds. They provide a secure form of payment, as they are backed by the bank's funds.