When a bank draws a check on itself, the check is called a cashier’s check. True...

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Question

When a bank draws a check on itself, the check is called a cashier’s check. True...

When a bank draws a check on itself, the check is called a cashier’s check.

True

False

If it is possible, please explain why?

business finance

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Answer 1

Answer #1

Answer:True

Since Bank has drawn the check on itself..it is both drawer and drawee for the check.

Hence the name Cashier's check.

A cashier's check is a check guaranteed by a bank, drawn from its own funds and signed by a cashier or teller. It's a safe way to make a large payment.

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Answer 2

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