What is Certified Check?
Certified Check A check guaranteed by the issuing bank, which verifies that sufficient funds exist and sets aside the amount for payment, ensuring payment to the recipient.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Certified Check” Used in Practice?
A certified check ensures payment as the bank verifies availability of funds and reserves the check amount until it is cashed or deposited.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Certified Check?
A check guaranteed by the issuing bank, which verifies that sufficient funds exist and sets aside the amount for payment, ensuring payment to the recipient.
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