The certified cheque is a type of cheque that is bank issued and it guarantees that the account holder’s signature on the cheque will be genuine. The issuing bank also promises there is enough money available in the holder’s account in case the recipient decides to use it.
Frequently Asked Questions
How do I get a certified cheque?
To get a certified cheque, you need to open up a personal checking account. The process requires that the bank verify the cash availability in this account and certify it’s all good before giving out one of these cheques.
Is a money order the same as a certified cheque?
A bank issues and certifies a certified cheque by placing the funds on hold until it is cashed. For a money order, you prepay for an amount that reserves those funds until they are cashed.