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#952335 - 04/30/08 05:49 PM "Official Check"
Sheldon Hendrix Offline
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Sheldon Hendrix
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Would an "Official Check" from a Bank be considered a Certified Check?

I'm trying to figure out if an "Official Check" falls into the category of checks considered Local under Reg. CC.

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#952344 - 04/30/08 05:58 PM Re: "Official Check" Sheldon Hendrix
John Burnett Offline
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An official check would normally not fit the legal description of "certified check." However, if it's a bank's official check, it most likely will fit the definition of either a cashier's check or a teller's check. That would put it squarely in the category of "next day" items -- not local items -- under Regulation CC.

Ignore the label that the bank put on the check. Instead, look at the parties to the check. If the check is signed by the bank that it's drawn on, it's a cashier's check. If the check is signed by one bank and drawn on or payable at or through another bank, it's a teller's check. As far as Regulation CC's availability rules are concerned, there's not a whit of difference between them.
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#952347 - 04/30/08 05:59 PM Re: "Official Check" Sheldon Hendrix
Linkpars Offline
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Here at the bank I work at we actually stamp personnal checks certified. We don't consider our Official Checks certified.

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#952469 - 04/30/08 07:29 PM Re: "Official Check" Linkpars
Sheldon Hendrix Offline
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Sheldon Hendrix
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Thanks for the feedback, John!

Alright so it's signed with an authorized signature from Bank Personnel. So I'm looking at a cashier's check. This was a check for $4,750. to open a new account, and a hold was placed on the full amount. If I'm assuming correctly, based on the exception rules for new accounts in relation to certain checks, no hold should have been placed on this particular check. Am I thinking correctly?

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#952542 - 04/30/08 08:28 PM Re: "Official Check" Sheldon Hendrix
Skittles Online
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From my understanding you are thinking correctly.
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#952570 - 04/30/08 09:23 PM Re: "Official Check" Skittles
John Burnett Offline
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John Burnett
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Yes. Unless you used a different kind of exception hold (reasonable doubt), which was probably not available to you.
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#952579 - 04/30/08 09:36 PM Re: "Official Check" John Burnett
Sheldon Hendrix Offline
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Sheldon Hendrix
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Nope, it was a New Account exception. I found a couple of more like this, so apparantly I have some training issues. Thanks guys!

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