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Wire transfers: Wire transfers are another fast and secure way to send money to someone else, and might be called for if a money order or other alternatives don’t offer sufficient security. You ...
Since the bank guarantees the funds, people commonly use cashier’s checks for large transactions like paying a security deposit for a new apartment, buying a car or making a down payment on a house.
When you buy a big-ticket item like a car or make a large payment, such as a down payment on a house, you may be asked to pay with a cashier's check or certified check. These checks are less ...
Certified check; Cashier's check (known as a bank draft in Canada) Money order; Manager's check; Wire transfer; Specifically, personal checks are not allowed, as the account may not have sufficient funds, and credit cards are not allowed, as the transaction may later be disputed or reversed. Checks sent by a bank bill payment service can fall ...
An EFTS payment is essentially an electronic personal check, whereas a wire transfer is more like an electronic cashier's check. EFTS transfers are often called "ACH transfers", because they take place through Automated Clearing Houses. One important way ACH transfers differ from wire transfer is that the recipient can initiate it.
You might need a cashier’s check to make a security deposit on an apartment, for example, or to cover the down payment on a new car. Consumers often use cashier’s checks to pay a merchant or ...
Cashier's checks, often used for down payments on homes or vehicles, serve as a bank-certified alternative to personal checks. Rather than being drawn from the funds in a personal account, a ...
Check-cashing locations: The fees for cashing a cashier’s check at these locations are generally higher than banks and credit unions. The fee could be a percentage of the check amount, anywhere ...