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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: sshepard/Getty Images September 16, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Matthew Goldberg is a consumer banking reporter at Bankrate. Matthew has been in financial services for more than a decade, in banking and insurance. Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. Kenneth Chavis IV is a senior wealth manager who provides comprehensive financial planning, investment management and tax planning services to business owners, equity compensated executives, engineers, medical doctors and entertainers. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. What is a certified check
A certified check is a personal check that an account holder’s bank has confirmed is backed by sufficient funds and bears a legitimate signature. The amount of money on a certified check is earmarked solely for the payment of that check. The bank stamps the check or adds some other marking to indicate that it is certified. That’s why a certified check is considered an “official check.” When to use a certified check
Certified checks are typically used in large-dollar transactions, such as a down payment on a car. They are also used in transactions when the buyer and seller don’t know each other. If you’re buying an expensive item from an online marketplace, a certified check guarantees a seller that you have adequate funds for the purchase. A standard check doesn’t offer that assurance. How much a certified check costs
A certified check will cost more than some other payment options. Expect to pay $15 to $20. Not only are certified checks more expensive, but it is also difficult to find a bank that offers them. Many banks sell cashier’s checks and , but not certified checks. Even big, traditional banks tend not to offer them. “They’re a feature that banks offer to their customers, but they’re not as readily used, historically, as cashier’s checks (or) ,” says Ben Craigie, a vice president of the Massachusetts Bankers Association. “There’s just some banks that don’t have that service.” If you need an official check, inquire at your bank about the payment options it offers. Certified check vs cashier s check What s the difference
The terms “certified check” and “cashier’s check” are often used interchangeably, but they are not the same thing. A certified check is drawn against the bank customer’s account; a cashier’s check is drawn against the bank’s funds. “Certified [checks] kind of fall into that same umbrella as cashier’s checks in the sense that they’re both considered official check instruments,” says Craigie. A certified check is a personal check from an account that has been certified by a bank. The bank certifies that the account holder’s signature is authentic and that the amount of money needed to make the transaction is in the account and has been set aside for the payment of the check. A signature, stamp or some kind of marking shows that the check is certified. With a , the bank withdraws the money from your account and issues you an official bank check made payable to the person or business you are transacting with. The money is guaranteed by the bank, using its funds. Usually, the bank prints the name of the payee on the cashier’s check before it’s issued. How to protect yourself from fraud
A legitimate certified check is as good as cash because the bank has verified the signatory’s account and signature and set aside the funds to pay it. Even though a certified check is a more secure payment instrument than a standard personal check, counterfeits are possible. When it comes to official checks, which covers certified checks and cashier’s checks, trust but verify, Craigie advises. To protect yourself against fraud, ask the bank that certified the check to confirm that it’s authentic. “You can always call the bank that the check is drawn on and verify the legitimacy of the item in your possession,” Craigie says. Don’t call a phone number that’s on the check, Craigie says. Instead, verify the bank’s phone number on your own. Go to the bank website, visit a branch office or use some other official method. — Bankrate’s contributed to an update of this story. SHARE: Matthew Goldberg is a consumer banking reporter at Bankrate. Matthew has been in financial services for more than a decade, in banking and insurance. Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. Kenneth Chavis IV is a senior wealth manager who provides comprehensive financial planning, investment management and tax planning services to business owners, equity compensated executives, engineers, medical doctors and entertainers. Related Articles