The bank check is particularly useful if you wish to carry out transactions of a large amount between individuals. In fact, it ensures that the seller will be paid. For good reason, a banker’s check is a payment document issued by a bank at the request of the customer. How to verify its authenticity? What are the delivery times? Business Cool answers all questions about this payment method!
Unlike the wooden check, the bank check is particularly appreciated by those who receive it. Here’s why.
What is a cashier’s check?
You will have understood, a bank check is a secure way to carry out a transaction between individuals. It is obtained by a buyer from a financial institution. Please note that the amount indicated on the check is directly debited from the account of the person who made the request. It’s a way for the bank to cover itself. It is therefore the latter who undertakes to remit to the beneficiary the sum indicated on the check.
Obtaining a cashier’s check is considered by banking establishments as a service. For this reason, it is often charged between 10 and 20 euros per check. However, some online banks do not charge for this service.
For what occasion should I use a bank check?
Generally, a cashier’s check is used in a transaction that involves large amounts such as the sale of a car. It can also be used by people in financially fragile situations. However, although it was used when purchasing real estate, this practice has since become prohibited. Indeed, since 2015, any payment of more than 3,000 euros made to a notary must be made exclusively by bank transfer.
Verify the authenticity of a cashier’s check
Although it certainly ensures payment, there are fake bank checks on the market. It is for this reason that we must be able to verify the authenticity of the latter. A bank check like bank notes has a watermark. Identical for all checks, this legible watermark on the back of the check indicates “BANK CHECK”. This mention is framed by 2 sowers whose light and dark parts are reversed from one figure to another. However, some counterfeiters have become experts in the field. It is therefore strongly recommended to contact the bank issuing the check to ensure its validity.
What are the delivery and validity times?
To obtain a bank check, simply make a written request to your banking establishment. In general, it takes one to two days to obtain it and its delivery is immediate. The bank check has a lifespan of precisely one year and eight days. Once this period has expired, if it has not been cashed, the bank check is automatically recredited to the account of the person who requested it.
A cashier’s check cannot be bad
A cashier’s check is issued by the bank itself. It is therefore the banking establishment which pays the beneficiary directly. A reassuring means therefore since it cannot in any way be without provisions. In fact, before receiving a bank check, the banking establishment verifies that the applicant has the necessary funds and debits them as soon as possible.
Beware of the stolen check
If a buyer wants to pay you part of the amount by cashier’s check, you should be wary. And for good reason, this could be a first indicator of a stolen check. It is advisable to never accept a cashier’s check that does not cover the full amount of the transaction. In addition, it is also strongly recommended to verify the identity of its owner and contact the bank issuing the check.
