Well, maybe I am. I know that sounds dumb. If our bank issued a loan proceeds check to a customer, I would consider that guaranteed funds and an official check from the bank. However, our loan checks do not say "cashier's checks". They say "Loan Proceeds". Could I put a hold on the funds from that check?
That's where I am getting confused here. We have a check from "Hometown Financial" drawn off of "Country Bank N.A" It does not say cashier's check anywhere on the check. But it does state it is for "loan proceeds".
How are we supposed to know if we can hold the funds if I can't identify the type of check?
And am I really over thinking this? LOL