certified check
certified check
Definition
☆ certified check
noun
a check for which a bank has guaranteed payment, certifying there is enough money on deposit to cover the check
certified check Finance Definition
A
check guaranteed by the bank it is written on. When the check is certified, it
becomes a legal obligation of the bank. The bank immediately deducts the funds
to cover it from the depositorÂ’s account. A certified check cannot bounce.
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