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cashier's check
(redirected from Official check)

   Also found in: Financial, Wikipedia 0.02 sec.

cashier's check n. a check issued by a bank on its own account for the amount paid to the bank by the purchaser with a named payee, and stating the name of the party purchasing the check (the remitter). The check is received as cash since it is guaranteed by the bank and does not depend on the account of a private individual or business. Cashiers' checks are commonly used when payment must be credited immediately upon receipt for business, real estate transfers, tax payments and the like.



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Although presented with a large, cardboard $1 million check by Dave Sayer, the head of Publishers Clearing House's famous "Prize Patrol" that had pulled into Pohrman's driveway moments earlier, Pohrman actually received an official check for $25,000.
MoneyGram's investment portfolio largely reflects settlement assets from its official check business and the company is contractually required to maintain a one-to-one balance between settlement assets and settlement liabilities.
 
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