windyMagician
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Simple English definitions for legal terms
teller's check
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A quick definition of teller's check:
A teller's check is a type of check that is issued by a bank and drawn on another bank or payable at a bank. It is like a special check that is guaranteed by the bank and can be used for large transactions or when a regular check may not be accepted. It is also sometimes called a cashier's check.
A more thorough explanation:
A teller's check is a type of check that is drawn by a bank on another bank or payable at or through a bank.
For example, if you need to make a large payment and don't want to carry cash, you can go to your bank and request a teller's check. The bank will then draw the check on their own account and give it to you to give to the recipient.
Teller's checks are often used for large transactions because they are considered more secure than personal checks. Since the bank is the one issuing the check, the recipient can be sure that the funds are available and that the check will not bounce.