What Is A Certified Bank Check? -Know More About It

Introduction

Have you ever asked yourself what is certified bank check is? Why is it necessary to know the importance of a certified bank check? Why is it necessary to identify the difference between certified checks with cashier checks? And lastly, Why certified checks are susceptible to fraud? Let’s explore some answers. Let us know about “What Is A Certified Bank Check?”

What Is A Certified Bank Check?

A certified check is a personal check that the payer’s bank has certified to be legitimate and has specified the funds for any particular purpose. Unlike a cashier check, it is signed by the customer which is verified by the bank to proceed with the transaction process for personal interest. A certified check guarantees that a customer can purchase if he/she wants to make huge transactions.

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Difference B/W Cashier And Certified Check

Certified Check

A certified check is verified by the bank via a physical verification process by analyzing the customer’s signature. For this purpose, the bank representative signed it as “certified” or “verified”. After verification, a customer can purchase for himself. 

Cashier’s Check

Cashier checks are backed by the bank and the funds are drawn against the bank’s account. It is signed by the teller and written in the bank’s name and the bank guarantee payment of the check. 

Benefits Of Certified Check

When it comes to the purchase of expensive items, a certified check is very helpful. If someone is buying expensive vehicles, property, or home appliances, it’s dangerous to carry a huge amount of cash. In these cases, certified checks protect against scammers. Here are a few notable steps for verification of checks:

Person’s Handwriting

One of the key steps that are required to confirm a person’s identity is handwriting. The cashier analyzes the customer’s handwriting with the old record. So that the chances of fraud are minimized to an extent.

Check Quality

After the handwriting verification, the cashier analyzes the check whether the check is real or fake by analyzing the verification markers on the check from the naked eye. Once this procedure is complete, the cashier will analyze the paper quality for verification.

Signature Of A Person

The signature of a person is analyzed by comparing the signature on the check with the database to ensure the safety and security of the customer’s account details.

Account Status

For any sort of transaction, the customer’s account status is analyzed to ensure that the account is in use. For this purpose, The bank cashier will check account details to make sure that the account is active and available for fund transfer.

Funds Availability

Funds availability analysis is a final step to approving the transaction. The cashier will analyze the total transactions and balance remaining in the account. 

What If Any Of The Mentioned Above Didn’t Get Approved Then….

After verifying all the above-mentioned steps, the cashier will certify the check, and permission to make the transaction will be granted. But if any of them got rejected, then the cashier will decline your payment. In the case of a fake check, the bank may inform the user about the check and can ask for another check. In case of fake identity like fake signature & unmatched writing, the bank may send an email regarding the check to the user and may also report to the police for investigation. If the status of the bank account is inactive, then the cashier will decline the payment and even offer you a loan.

Beware Of Check Fraud….

As mentioned above, certified bank checks are the safest way to make personal transactions feasible. But still, there are several issues and concerns regarding the integrity of certified bank checks. The most common one is fraud because it’s easy to fake a certified check. Since it didn’t have a watermark feature.

FAQS

Q) How to identify whether the check is certified or not?

A) If the cashier certifies after the verification procedure, then the check is verified. The cashier may sign it or use a stamp for verification. 

Q) How to get a certified bank check?

A) The first step is to verify whether the bank offers certified checks or not. Visit the local branch and ask the teller about certified checks and instructions. Put on the details regarding the transaction and show the ID to the teller. After verification, pay the service fee (which varies from bank to bank). Keep the receipt until the account clearance.

Q) What are the service charges for getting a certified bank check?

A) The charges may vary from bank to bank. Mostly, the bank will charge from $15-$40 depending on the state/bank.

Q) Why certified bank checks are prone to get faked?

A) Because these checks do not have watermarks like the cashier’s check making these check easy to be faked.

Conclusion

Before getting the certified check, a customer should verify the legitimacy of a check. Only then a customer should go for it however if the customers ignore these details. They might become an easy target for fraud.  

What Is A Certified Bank Check? -Know More About It

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